Actually, this has been an ongoing issue

When assets are transferred across chains

Risk 1: Wrapped tokens de-pegging risk

Risk 2: Users must give up native chain functionalities and accept the probability of bridge hacking incidents

But how to solve it

Although there are many cross-chain products on the market with high popularity and good market share

They haven't fundamentally solved the above problems

@moremarketsxyz has provided a good solution

📒 How it works

1. Assets are not moved; they are only locked in the original chain's vault
The locked state is verified through encrypted proofs generated by NEAR Chain Signatures, broadcasted to the target chain via message layers like Wormhole / LayerZero

2. The target chain then mints "credential assets" such as moreXRP, moreNEAR based on the proof

These are then invested in strategies like Aave, Pendle to earn yield spreads

The advantage of this approach is that it avoids shadow asset risks, saves bridging costs and waiting time. The team calls it the “Proof-of-Hold Inspire-to-Earn” scheme, which is quite interesting

💻 Technical solution

1. Implement a fixed core for yield settlement + pluggable Facet modules

Supports sharing a secure boundary for all new strategies after a single audit

2. Cross-chain message layer:
- Wormhole Guardian network responsible for verifying lock proofs
- LayerZero responsible for multi-chain account bookkeeping synchronization

3. Risk control: all leveraged positions default to ≤55% LTV; in case of significant volatility, the Security Council can pause Facet with one click to ensure withdrawal channels

➡ Personal thoughts

MoreMarkets replaces traditional cross-chain bridges with “lock proof + message layer,” upgrading “asset transfer” to “data transfer,” effectively reducing potential costs of cross-chain bridges

For XRP, DOGE assets still residing on native chains, this is an almost frictionless “automatic yield plugin”

With the deployment of products like Mizu Labs cross-chain vaults and NEAR Earn, MoreMarkets is poised to lead in the “DeFi for non-EVM assets” niche.