Shell Trade: A Protocol for Seamless Cross-Chain Transfers between Bitcoin and Solana

Bitcoin is the king of cryptocurrencies, but it has a problem: it is not compatible with most other blockchain networks. This means that you cannot easily transfer or exchange your Bitcoin assets with other crypto assets, such as those on the Solana network, which is one of the fastest and cheapest blockchain platforms in the market. This limits your options and opportunities in the crypto space, as you cannot access and utilize the diverse and innovative services and applications that different blockchain networks offer.

But what if there was a way to bridge the gap between Bitcoin and Solana? What if you could transfer and exchange your Bitcoin network tokens with the Solana network tokens, and vice versa? And what if you could do it in a secure, reliable, and efficient way?

This is the vision of Shell Trade, a protocol that connects the Bitcoin Ecosystem with the Solana Network. Shell Trade enables you to bridge your Bitcoin network tokens to the Solana blockchain without compromising your assets’ security.

What is Shell Trade?

Shell Trade is the first-ever protocol that connects the Bitcoin Ecosystem with the Solana Network, enabling users to transfer and exchange BRC-20 assets between the two networks in a secure manner. It enhances the liquidity and accessibility of Bitcoin network tokens while also increasing their security and reliability.

BRC-20 assets are tokens that follow the Bitcoin Request for Comment standard, which defines a set of rules and specifications for creating and issuing tokens on the Bitcoin network.

Shell Trade Core Vision

Shell Trade’s core vision is to enhance the liquidity and accessibility of Bitcoin network tokens while also increasing their security and reliability. Shell Trade leverages the advantages of both the Bitcoin and Solana networks, such as decentralization, security, performance, and cost-effectiveness, to create a seamless and efficient cross-chain transfer mechanism.

What is Shell Trade Bridge?

Shell Trade Bridge is the core component of Shell Trade, a protocol that connects the Bitcoin Ecosystem with the Solana Network. Shell Trade Bridge enables users to transfer and exchange BRC-20 assets between the two networks, in a secure, reliable, and efficient way.

How does the Shell Trade Bridge work?

Source: Shell Trade website

Shell Trade Bridge works by utilizing a locking contract that enables users to lock and unlock assets between the two networks. The locking contract records the volume of BRC-20 assets involved in the locking process and subsequently mints equivalent representative tokens on the Solana blockchain to mirror the BRC-20 positions. The mirrored BRC-20 tokens can be freely transferred and exchanged within the Solana ecosystem and can be redeemed for the original BRC-20 assets by unlocking them through the bridge.

Shell Trade Bridge also employs monitoring nodes that monitor the cross-chain transfer process and validate the transactions to ensure the validity and security of the cross-chain transfers. Additionally, the bridge uses a confirmation mechanism that combines event-triggered processes with cross-chain confirmation to improve the security and reliability of asset transfer. The confirmation mechanism is initiated by specific events, such as transaction initiation and completion, to ensure that the transfer of assets between different chains is verified, secure, and reliable.

Shell Trade Bridge Security Measures

Shell Trade Bridge takes security very seriously, as it involves the transfer of valuable assets between different blockchain networks. To ensure the security and reliability of the cross-chain transfers, Shell Trade Bridge uses the following measures:

Smart Contract Security

Shell Trade Bridge uses a locking contract that enables users to lock and unlock assets between the Bitcoin and Solana networks. It is tasked with recording the volume of BRC20 assets involved in the locking process and subsequently minting equivalent representative tokens on the Solana blockchain to mirror the BRC20 positions.

The protocol-locking contract adopts highly secure smart contract coding standards and auditing mechanisms to ensure security and resilience against attacks.

Multi-sig Mechanism

Shell Trade Bridge uses a multi-signature mechanism to ensure the security and trustworthiness of the cross-chain transfers. A multi-signature mechanism requires multiple authorized parties to sign on a transaction before it can be executed.

Monitoring and Risk Management

Shell Trade Bridge uses a network of monitoring nodes that monitor the cross-chain transfer process and validate the transactions to ensure the validity and security of the cross-chain transfers. The monitoring nodes are also responsible for detecting and reporting any potential security risks or anomalies, such as network congestion, malicious attacks, or system failures, and triggering the appropriate countermeasures or contingency plans to mitigate or resolve them.

Benefits of Shell Trade

Shell Trade offers several benefits for users, developers, the Bitcoin network, and the crypto space at large such as:

• It enhances the liquidity and accessibility of Bitcoin network tokens, which are often underutilized due to their low scalability and high transaction costs by leveraging the high performance and low cost of the Solana network, which can process thousands of transactions per second with minimal fees and latency.
• It increases the security and reliability of cross-chain transfers, by using smart contracts, monitoring nodes, and confirmation mechanisms to ensure the safety and validity of the transactions.
• Ir enables interoperability and utilization of Bitcoin assets within the Solana ecosystem, which hosts a variety of decentralized applications and services, such as DeFi, NFTs, gaming, and more.
• It creates new opportunities and innovations for the crypto space, by facilitating cross-chain collaboration and integration between different blockchain networks and communities.

Limitations of Shell Trade

Despite its benefits, Shell Trade also has some limitations, such as:

• Depending on the functionality of the locking contract, it is responsible for locking and unlocking the assets between the two networks.
• It requires users to trust the locking contract and the monitoring nodes, which are centralized entities that could be compromised or malfunctioned.

Shell Trade Tokenomics

Shell Trade has its native token, called $SS20, which stands for Shell Solana 20. $SS20 tokens can be freely transferred and exchanged within the Solana and Bitcoin ecosystem.

$SS20 Token Distribution

Source: Shell Trade website

SS20 has a total supply of 1 billion tokens, which are distributed as follows:

• Public Sales: 65% of the total supply, or 650 million tokens, are allocated for public sales, which are conducted through various platforms and stages, such as private sales, public sales, and IDO.
• Partner Sales: 8% of the total supply, or 80 million tokens, are allocated for partner sales, which are offered to strategic partners and investors, such as exchanges, wallets, or validators, who support the development and growth of Shell Trade.
• Liquidity & Yield: 7% of the total supply, or 70 million tokens, are allocated for liquidity and yield, which are used to provide liquidity and incentives.
• Ecosystem Building: 8% of the total supply, or 80 million tokens, is allocated for ecosystem building, which is used to fund and support the development and innovation of the Shell Trade protocol.
• Listing: 7% of the total supply, or 70 million tokens, is allocated for listing, which is used to cover the fees and expenses associated with listing and trading the $SS20 token on various exchanges and platforms.
• Team: 5% of the total supply, or 50 million tokens, are allocated for the team, which are vested and released to the core members and contributors of the Shell Trade project.

Shell Token Utility and Governance Functions

$SS20 has both utility and governance functions, which means that the token holders can benefit from the protocol and participate in its decision-making process. Some of the utility and governance functions of SS20 are:

• Fee Reduction: SS20 token holders can enjoy reduced fees when using the Shell Trade Bridge or other decentralized applications and services on the Solana network, as they can pay the fees with SS20 tokens instead of other tokens or currencies.
• Staking: SS20 token holders can stake their tokens to earn rewards and incentives from the Shell Trade protocol and the Solana network, such as interest, dividends, or airdrops.
• Voting: SS20 token holders can vote on the proposals and changes that affect the Shell Trade protocol and the Solana network, such as the parameters, features, or upgrades of the protocol or the network.
• Governance: SS20 token holders can propose and initiate the proposals and changes that affect the Shell Trade protocol and the Solana network, such as the parameters, features, or upgrades of the protocol or the network.

Future Plans of Shell Trade

Currently, Shell Trade is only a cross-chain bridge that helps users transfer BRC-20 assets from the Bitcoin network to the Solana network and back.

However, in the future, there are plans to broaden its support for additional BRC-20 protocols, such as Atomical and BRC-100. They also plan to integrate NFTs from the Bitcoin network and partner with other projects within the Solana ecosystem to facilitate trades and other utilities, such as lending and farming, for BTC network assets on Solana.

Shell Trade Fundraising Journey

Shell Trade recently conducted an initial exchange offering (IEO) on Gate.io, where it raised $15,000 via public sales of its token.

Is Shell Token ($SS20) a Good Investment?

Shell Token ($SS20) is the native token of Shell Trade, a protocol that connects the Bitcoin Ecosystem with the Solana Network, enabling users to transfer and exchange BRC-20 assets between the two networks.

Shell Token ($SS20) has both utility and governance functions, which means that the token holders can benefit from the protocol and participate in its decision-making process. Shell Token ($SS20) has a relatively low price and market cap, a relatively high trading volume and growth rate, some unique and innovative features and benefits, and some ambitious and exciting future plans and prospects. However, Shell Token ($SS20) also has some risk and volatility, some competition and pressure, and some challenges and limitations.

Therefore, whether Shell Token ($SS20) is a good investment or not depends on your own goals, preferences, and risk appetite. You should do your own research and due diligence before making any decisions.

How to buy Shell Token on Gate.io

To buy Shell tokens on Gate.io, follow these steps:

• Visit the Gate.io website and create an account with your email and password.
• Deposit some funds to your Gateio account.
• Trade your funds for $SS20 tokens, by choosing the SS20/USDT pair, and entering the amount and price.

Useful References

For the latest updates about Shell Trade, you can visit:

• Official Website
• Twitter
• Discord
• Telegram
• General Whitepaper

Take Action on $SS20

Check out the $SS20 price today and start trading your favorite currency pairs:

• SS20_USDT