I am interested in tokenizing an existing cryptocurrency based on Bitcoin (but isn't Bitcoin), or somehow creating a Stellar anchor allowing trade of the coin on the Stellar dex. would Bifrost be useful to me to bridge my Bitcoin-like cryptocurrency network to Stellar for tokenization or anchor creation / trading on the sdex? if not Bifrost then what is the best way to achieve this?
I'm operating anchor apay.io and half a year ago I was looking at Bifrost if it can be used for my anchor.
Potentially yes, but:
- it requires some code changes
- you would still need to implement withdrawals, because Bifrost only covers deposits
- you still need to implement API according to standard for anchors https://github.com/stellar/stellar-protocol/blob/master/ecosystem/sep-0006.md
I came to conclusion, that while Bifrost is good - it's a tool for different purpose and easier to implement anchor software without actually using it.
You can still look through the code for inspiration, especially how they deal with potential security vulnerabilities.
I have plans to start open-sourcing my work, but I don't have anything to show you at that time. Not aware of any other open source code for anchors.