🎁 [Feature Request]: Implement Cross-Chain Token Swaps between Ethereum and Polkadot Using Polar Path-like Mechanism via KILT's Pallet-Asset-Switch (as seen in Snowbridge)

[NM2146]

templates

• [ ] Generic Runtime Template
• [X] Evm Template

What is the feature you would like to see?

I propose implementing a cross-chain token swap feature between Ethereum and Polkadot, inspired by the "Polar Path" mechanism currently used by the Snowbridge app. The feature can be implemented via the Pallet-Asset-Switch developed by KILT Protocol.

More info found here: Medium Article

This would involve:

1. Integration of KILT’s Pallet-Asset-Switch: Building on KILT's pallet for managing cross-chain token transfers securely and efficiently, just as Snowbridge uses the Polar Path for token swaps between Ethereum and Polkadot.

2. Ethereum Smart Contracts: Implementing contracts on Ethereum that lock tokens, trigger the swap process, and interact with the KILT pallet on Polkadot to release or lock tokens on the Polkadot side.

3. Cross-Chain Communication: Utilizing Polkadot's XCM (Cross-Consensus Messaging) and Snowbridge’s proven Polar Path approach for seamless interaction between Ethereum and Polkadot.

By leveraging KILT's Pallet-Asset-Switch (already used by Snowbridge’s Polar Path), we can build a secure, decentralized, and trustless token swap solution that ensures smooth cross-chain communication and transfers.

Contribution Guidelines

• [X] I agree to follow this project's Contribution Guidelines