Ava Labs, Inc. (20250069064). NATIVE TOKEN BRIDGING

NATIVE TOKEN BRIDGING

Organization Name

Ava Labs, Inc.

Inventor(s)

Michael Kaplan of New York NY (US)

Patrick Robert O'grady of Palo Alto CA (US)

Stephen Buttolph of Brooklyn NY (US)

Aaron Buchwald of New York NY (US)

Bernard Wong of Waterloo (CA)

Cameron John Schultz of Chicago IL (US)

Geoffrey Stuart of Toronto (CA)

Matthew Lam of Brooklyn NY (US)

NATIVE TOKEN BRIDGING

This abstract first appeared for US patent application 20250069064 titled 'NATIVE TOKEN BRIDGING

Original Abstract Submitted

various aspects of the subject technology relate to systems, methods, and machine-readable media for bridging native tokens. various aspects may include initializing a first blockchain by allocating a plurality of native tokens. aspects may also include transferring, using a bridge, one or more transactions from a second blockchain to the first blockchain using locked tokens on the second blockchain as collateral. aspects may also include minting new native tokens at the first blockchain when a value of transactions sum to the plurality of native tokens and the plurality of native tokens are backed by the locked tokens. aspects may also include reporting, to the second blockchain, the amount of tokens used for the transaction fees in the one or more transactions. aspects may also include burning, at the second blockchain, tokens corresponding to the amount of tokens used for paying transaction fees.