Blockchain of Thing’s Multi-Chain Token Technology enables the Catenis user to take a Catenis Smart Asset (token), export it to a foreign blockchain, and create an equal counterpart of that asset within that foreign blockchain in exchange for the original Catenis Smart Asset.
Catenis supports three popular foreign blockchains currently used in DeFi: Ethereum, Binance Smart Chain, and Polygon PoS Chain. It also supports the Bitcoin Blockchain on which the Catenis Smart Assets run natively. Having access to bidirectional migration support of tokens for all four protocols enables companies to avoid the limitations of being locked into only one specific blockchain or token type.
In order to use this Multi-Chain Token Technology, you must first log into your administrative dashboard. Choose what foreign blockchain you want to export your Catenis Smart Assets to, then provide the token to fund the transaction fees required by the foreign blockchain, based on the fee market at the time of transaction.
Upon entering the admin dashboard, the left-hand side menu will present a “Foreign Blockchains” tab (see figure 1). This tab displays the three blockchains supported by Catenis (Ethereum, Binance Smart Chain, Polygon PoS Chain).
Two main sections are presented, the Consumption Profile, and the Asset Export Admin Account information (see figure 2).
The Consumption Profile determines the number of native coins consumed when a transaction is issued by Catenis. It is expressed in terms of execution speed. The faster the transactions are confirmed on the foreign blockchain, the more native coins are consumed in fees.
The Asset Export Admin Account is owned by Blockchain of Things. It is used to hold the foreign blockchain’s native tokens required to fund the transaction fees. Customers must fund this account (make a payment to the Blockchain of Things account) with the required quantity of foreign blockchain native tokens stipulated by the foreign blockchain’s fee market to be able to export their Catenis Smart Assets. Blockchain of Things does not make any markup on fees charged by the foreign blockchain. All native tokens deposited into this account for tokens, that are exported are non-refundable.
This balance is what will be used when exporting a Catenis Smart Asset (token), to a foreign blockchain to cover the fees required based on the current fee market.