What is Allgate? What is it for and what problems do we aim to solve? Let us briefly introduce ourselves and ignite the new exciting journey.

The Problem

Out of respect for your time, we will not describe here what Web3 and crypto are, and what is its purpose. The most important thing we would like to share at the beginning is our observations about the incredibly large, dynamic, and constantly growing ecosystem of decentralized applications, protocols, and blockchains on which these applications are created - why it's a good thing but simultaneously what problems does it present?

• The growing number of ecosystems makes them by default disconnected and fragmented.

• Web3 protocols are all about composability  -  creating a "Financial LEGO" effect that allows developers to connect applications together. Protocols' inability to communicate with each other due to ecosystems fragmentation leads to decreased composability.

• Most of the projects see that and try to go with a multi-chain approach - deploying contracts and being present on more than one blockchain. These contracts are usually disconnected, and separated. Users connected to Uniswap on Ethereum can't directly trade a token that is available on Uniswap's Polygon instance. That user would have to switch networks in the wallet first. Even then, he/she would still need to have funds there (on Polygon wallet). Usually, it involves for example selling Token A on Ethereum, bridging it using a third-party bridge to Polygon (if supported by any bridge), and trading that bridged, wrapped token on Polygon for Token B. Moreover, if a Token A isn't directly bridgeable, the User would need to trade it first on Ethereum (or CEX) for a tradeable token (most likely ETH or a stablecoin) and only then complete the next steps. A side note here: Allgate will solve this exact problem and more - as Token A will become Omnichain (OFT), there won't be a problem to transfer it (in the background) between chains and trade it for Token B in a single User's transaction (cross-chain composability).

• Trading is just one example that shows how ecosystems (blockchains) fragmentation leads to breaking composability and therefore to the inability to perform certain actions on tokens. The same can be applied to paying for an NFT mint (primary sales) or trade (secondary sales), building liquidity, investing in IDO, and participating in any activity that involves any token usage. In the end, a User needs to be connected and to have funds on the same chain as the application/contract.

• Poor User Experience and steep learning curve  -  currently a new Web3 User has to think about chains, networks, switching between them, and even complex topics like bridging assets. Does a Web2 application user need to know anything about Netflix's backend architecture - for example what is the role of a given microservice? Of course not. It would lead to a horrific UX and a fraction of the usage Netflix has nowadays. And this is the state of current Web3 applications. The solution is to abstract the decentralized infrastructure away and allow Users to focus only on a product. The Omnichain approach and technology developed by LayerZero do exactly that. A User can therefore use application(s) deployed on multiple networks as if they were one.

Our Solution

Our vision at Allgate is to seamlessly connect all fungible tokens with full composability by making them OFTs (Omnichain Fungible Token standard proposed by LayerZero).

Create new or Migrate existing tokens to OFT:
When interacting with Allgate, a User’s first choice is to choose whether to
a) Deploy a new OFT from scratch.
b) Migrate existing token to the OFT standard.

Option A is probably pretty clear — it involves just a few clicks and inputs for the token’s name, symbol, decimals, total supply, etc. After confirmation, the new OFT contract is being deployed.

Option B is easy to understand and use too, but it’s probably the most exciting part of our mission. The ability to make any existing token Omnichainable by making it OFT via customizable Migration. We’ll talk about configurable Migration parameters in detail in a dedicated article but what we’d like to highlight here is just that it will allow all Token Deployers (Founders, Teams, or DAOs that manage the token) to conduct a migration process using our no-code interface. In this process, the OFT’s supply is not minted on deployment — instead, it allows any Migrated Token’s Holder to swap the old token to the OFT in a 1:1 ratio. Describing briefly, we support:

• 13 EVM chains (Ethereum, Polygon, BNB Chain, Avalanche, Optimism, Arbitrum, Moonbeam, Fantom, Harmony, Celo, Klaytyn, Gnosis, Fuse) and 1 non-EVM (Aptos) blockchain. The list of chains will only grow.

• (Optional) Holders Allowlists (allowing you to use a snapshot if needed).

• (Optional) Choose between a Single/Bi-directional migration. Single by default means no coming back after migrating to OFT. Bi-directional allows holders to roll back to the old token. In the case of a Single-directional migration, the Migrated Token is burned with each swap. When using Bi-directional migration, the Migrated (old) Token is not burned, but instead locked in the contract, and burned only after the migration completes with a separate deployer’s transaction.

• Doesn’t matter if your Migrated Token exists on only one blockchain or is deployed on multiple chains — we will connect them natively using Migration for all instances. OFT on each supported chain is set as a “remote” contract.

• You no longer need a third-party, external bridge. Each OFT is transferrable on its own on the contract level across all supported chains.

• We provide a default interface for each created OFT and its Holders to make the bridging immediately available without a need to build a custom UI. But in the end, the OFT is fully decentralized, doesn’t rely on any third party, and can be obviously used even on a code/contract level with full composability or via Etherscan, etc.

The more tokens we’ll be able to connect the closer we will get to the common Web3 ecosystem with many blockchains and applications interacting with each other invisibly for the end Users.

Ultimately, in a perfect scenario and with our end goal realization, wallets could definitely stop showing networks to choose from as all tokens, applications, and protocols would be interconnected at the infrastructure level.

Our Omnichain mission begins now with the Testnet estimated to launch in February.