XION & TOKI to Launch Chain Abstraction to BNB Chain Ecosystem

We’re excited to announce the integration work between XION and TOKI that will bring the first Chain Abstraction solution to the BNB Chain ecosystem. This will be facilitated by the first Inter-Blockchain Communication (IBC) connection between BNB Chain and Cosmos, paving the way for unprecedented interoperability and user-friendly experiences across ecosystems.

Setting the Stage

XION recently launched its first Chain Abstraction integration with the Injective ecosystem alongside Nomos, aiming to enhance blockchain usability by seamlessly connecting users, apps, and liquidity across ecosystems. The goal of Chain Abstraction is to make Web3 more accessible and intuitive for all users by abstracting away cross-ecosystem complexities through XION’s Generalized Abstraction, allowing it to serve as an extension to all major blockchain networks. It seeks to reshape the historically competitive nature of L1s - who typically fight for users, liquidity, and developers - to enable true mainstream adoption.

What is TOKI?

TOKI focuses on expanding the IBC connection to all chains. IBC is widely regarded as the most reliable and successful Interoperability Communication Protocol available, with trust minimization as one of its core properties. As a widely adopted standard with strong community support, this general-purpose messaging protocol is constantly expanding into various ecosystems through its wealth of community-engaged projects.

Enabled by its unique multi-prover security-first model, TOKI leverages TEE, MPC, and ZK to enhance the IBC standards and build unified liquidity on top of the messaging layer - achieving highly secure cross-chain infrastructure without sacrificing composability, gas efficiency, and user experience in an open environment. The innovative combination of TEE enclaves with an MPC validation process, through a unique Light Client architecture, allows for an open cross-chain environment that is both efficient and scalable without compromising TOKI’s security-first focus.

In partnership with Datachain, TOKI has also contributed to the development of ibc-solidity, an IBC core module written in Solidity. Based on this technology stack, BNB Chain, Ethereum, and Cosmos will be the first applicable cross-chain connections.

TOKI & XION Integration: Enabling Chain Abstraction

The integration between XION and TOKI establishes the necessary infrastructure for frictionless cross-chain applications, enabling seamless interoperability and optimal end-user experiences across ecosystems. By combining XION's Generalized Abstraction with TOKI's IBC capabilities, this collaboration will power Chain Abstraction through the first connection between BNB Chain and Cosmos.

This is made possible through the combination of smart contract accounts on both the host chain (XION Meta Accounts) and the destination chain. These smart contracts then communicate through the use of IBC, as zero-knowledge state compression proofs are created via on-chain light clients and passed permissionlessly via decentralized relayers to the destination chain. TOKI will provide its IBC modules with its multi-prover security model (TEE, MPC, ZK) to ensure a robust and reliable infrastructure for cross-chain communication. 

"We're very excited to be working with the TOKI team to further advance cross-ecosystem interoperability through Chain Abstraction. Trustless cross-chain communication is a key part of making this possible, and TOKI is at the forefront of expanding these capabilities," said Burnt Banksy, a core contributor to XION.

This integration will enhance liquidity and create a variety of novel cross-ecosystem use cases, making it easier for non-crypto-native users to onboard and interact with powerful on-chain applications without grappling with the complexities inherent in Web3. Additionally, through the collaboration with Progmat and MUFG, Japan’s largest banking group, TOKI is enabling cross-chain transactions with fully regulated stablecoins, compliant with Japanese legislation. The integration will facilitate the flow of various stablecoin assets, potentially including a Japanese YEN-backed option issued by Progmat.

TOKI recently announced the release of the first open-source ZK-IBC, leveraging Tendermint X by Succinct. It is set to launch its testnet on BNB Chain and Ethereum in the coming months, at which time the integration will go live.

Conclusion

The integration between XION and TOKI represents a significant milestone in the advancement of cross-chain interoperability and user experience in the Web3 ecosystem. XION's Chain Abstraction will make it easier for non-crypto-native users to interact with powerful on-chain applications without the complexities typically associated with Web3. Meanwhile, TOKI's multi-prover security model and ibc-solidity development will ensure a secure and efficient cross-chain environment.

Both projects focus on key pillars that will drive the adoption of the technology and bring Web3 into the mainstream: security and user experience. As XION and TOKI work together to drive adoption and improve the user experience, this integration marks an important step forward in making Web3 more accessible and user-friendly for all.