Bungee is a bridge aggregator built on the SocketLL by the Socket team. Bungee shows users all the routes to seamlessly move Token A on Chain X to Token B on Chain Y and helps them choose the best possible route to bridge. It also considers any token swaps that may be needed while bridging.
Bungee supports Single Transaction Bridging, which shows Swap+Bridge routes which can be initiated in a single transaction on the source chain. Multi Transaction Bungee supports Swap+Bridge+Swap routes, where there is an additional swap tx on the destination chain. Multi Txn Bungee is still in its testing phase. We will soon merge it into the main Bungee app.
We're building the best bridging interface with Bungee and are continually adding new features. We're getting tons of user feedback and constantly iterating on Bungee. Bungee is stable to use but we've kept it in beta until we're. However, SocketLL Contracts/APIs are not in beta and have been in production for 8+ months facilitating a volume of over $450M+
No, Socket does not charge any protocol fees. Users however are charged a DEX fee or Bridge fee which vary depending on the route they choose. They also need to pay for gas fees.
1inch and 0x are DEX aggregators which route liquidity through multiple DEXes for the best swap rates. Hence, swap step in a given route will use 1inch/0x to route liquidity through the DEX that gives the best rates at that moment for a given token. We're also working on adding more customisability to let integrators choose a specific DEX as well.
Yes! The SocketLL contracts allow setting a recipient address, different to the sender address, on the destination chain. The recipient address needs to be passed in the calldata for bridges that support it. Socket’s LL quote API endpoint enables developers to add a param specifying the recipient address on the destination chain.
SocketLL smart contracts are independent routers and aggregators of bridges. These enable directly swapping and bridging in a single transaction. In addition, each bridge contract has different functions and parameters for deposits. Socket abstracts this away with a single easy-to-use deposit function. More on this in How SocketLL works
Yes, Socket smart contracts were audited before going live on Mainnet. The report can be found here. The contracts have been in production for the last 9 months. We’re working towards another audit and launching Immunifi bounties soon.
When integrating new bridges, we focus on parameters such as Security, Performance, Latency and Capabilities. Based on our assessment, we prioritise bridges for integration. In our commitment to provide full transparency to the users about the security of the route that we provide, we are also working on launching a Bridge Evaluation Framework
Bridges support limited number of tokens, but SocketLL's Swap+Bridge+Swap allows bridging of a wide variety of tokens. At times a token might not be in our DB even if a DEX has liquidity for it. Hence, there won't be any routes for bridging it. If you'd like us to add support for a token, reach out to us via our support.