Mapping Process from Pi Assets to Pite Tokens on the BNB Chain

Mapping Process from Pi Assets to Pite Tokens on the BNB Chain

Mapping Process from Pi Assets to Pite Tokens on the BNB Chain

Asset Verification

1. User Registration and Login:

   • Users first register and log in to their accounts on the Pite platform, ensuring they have valid identity verification.

2. Pi Asset Verification:

   • Submit Pi Asset Information: Users submit their Pi Network asset information, including wallet addresses and asset amounts.

   • Verify Asset Authenticity: The Pite platform uses multi-signature technology and zero-knowledge proofs to verify the authenticity of the submitted Pi assets. These technologies ensure that only legitimate Pi assets can proceed while safeguarding user privacy.

3. Ethereum Address Verification:

   • Bind Ethereum Address: Users need to bind their Ethereum addresses to receive Pite tokens after the mapping is complete.

   • Address Verification: The Pite platform verifies the validity and ownership of the Ethereum address, ensuring the accuracy and security of assets during the mapping process.

Forking Process via Pite Cross-Chain Bridge Protocol

1. Initiate Fork Protocol:

   • User Confirmation: After completing asset verification, users confirm the initiation of the cross-chain bridge fork protocol to map their Pi assets to Pite tokens on the BNB chain.

2. Dandelion Protocol Randomized Propagation:

   • Stem Phase: In the stem phase of the Dandelion Protocol, the verified Pi asset transaction information is relayed through a series of randomly selected nodes, forming a single path that hides the transaction's origin, ensuring privacy.

   • Fluff Phase: After the stem phase, the transaction enters the fluff phase, where the information is broadcast to the entire network, ensuring all relevant nodes are aware of the transaction and final mapping preparation is complete.

3. Cross-Chain Bridge:

   • Bridge Operation: Using cross-chain bridge technology, the verified Pi asset information is transferred from the Pi Network to the BNB chain. This bridge ensures seamless and secure data transmission.

   • Confirm Mapping: Once the bridging is complete, the Pite platform confirms that the Pi assets have been successfully mapped to the BNB chain, preparing for the generation of corresponding Pite tokens.

4. Pite Token Generation and Distribution:

   • Token Generation: Smart contracts on the BNB chain generate Pite tokens equivalent to the user's submitted Pi assets. The use of smart contracts ensures the process is automated and transparent.

   • Token Distribution: The generated Pite tokens are automatically distributed to the user's previously bound Ethereum address. Users can then view and manage these Pite tokens in their wallets.

Process Summary

Through the above steps, the Pite platform successfully maps Pi assets to the BNB chain and generates Pite tokens. This process ensures asset security and privacy while significantly enhancing the liquidity and DeFi application value of Pi assets. By employing the Dandelion Protocol, multi-signature technology, zero-knowledge proofs, and cross-chain bridge technology, the Pite platform provides users with a secure, efficient, and transparent asset mapping solution.

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