Omni-Chain Setup

Bento is a cross-chain protocol enabling the native issuance of bentoX assets across multiple chains. To ensure seamless cross-chain bridging of bentoX assets and maintain a user-friendly experience while upholding stringent security standards, the protocol utilizes LayerZero infrastructure combined with Bento’s customized contracts. Key cross-chain features include:

Cross-chain Asset Transfer: bentoX functions as an OFT (Omnichain Fungible Token), and its bridging is facilitated by LayerZero. Bento's custom contracts allow bentoX to be transferred across different chains without burning tokens on the source chain. Instead, the bentoX tokens are locked on the source chain, and can only be unlocked when bridged back through LayerZero. This mechanism helps preserve price stability for bentoX.

Cross-chain Price Feed: The price of bentoX is determined by the quantity of underlying assets and the circulating supply of bentoX. At any given time, anyone can use LayerZero to feed this price information to the target chain, and developers can directly acquire and utilize this price within the bentoX token contract.

Emerging blockchains face difficulties in securing sufficient stablecoin, ETH and BTC liquidity due to the need to offset the opportunity cost of native risk-free yields on Ethereum and other networks. This creates a collective demand for an omni-chain token representing a basket of yield generating USD stablecoins/ETH derivatives/ BTC derivatives to seamlessly bridge risk-free returns across blockchains. Hence, both bentoX and bentoX+ tokens are built on the Omnichain Fungible Token (OFT) Standard by LayerZero, that supports both assets and prices to be transferred across multiple blockchains seamlessly. As bentoX and bentoX+ tokens gain adoption, Bento-Fi will be the liquidity distribution market connecting protocols and liquidity providers. Meanwhile, it establishes a multi-chain liquidity market based on bentoX and bentoX+ tokens, it also provides Bento users with more use cases and yield opportunities on DEXs, lending protocols, CDPs, and more.