Shareslake - Cardano Bridge release!

Today, we are really happy to announce that the Shareslake Bridge goes live! This first release of the bridge allows moving Redeemable between Shareslake and Cardano.

To date, there is no stablecoin on Cardano mainnet, and thanks to the Shareslake Bridge, Redeemable will become the first Cardano stablecoin.

Shareslake - Cardano Bridge Release

Remember what is Redeemable

Although Redeemable is not a pure stablecoin, because its price is not pegged to a fiat currency, gold, or other assets, it is pegged to the "living costs". From our point, a stablecoin that is pegged to a fiat currency, such as USD, is not actually stable since its purchasing power will decrease with time.

This effect is evidenced in recent months, where inflation has rise to levels never seen before. During the current year, 2022, it is expected that the USD purchasing power will fall by around 10%. So if we think of USD-pegged stablecoins, they will behave the same. So, we wonder where is the stability?

We consider Redeemable the real "stablecoin" since its purpose is to always maintain the same purchasing power. If the cost of a pear is 1 RED, it will always be 1 RED, no matter how fiat currencies behave.

All that is achieved by collateralization of the Redeemable into a reserve that generates and accumulates interest, thus, more and more fiat backs up each RED with time, preserving the Redeemable purchasing power.

If you want to learn more about Redeemable check this post describing the new concept or this one, comparing Redeemable with common stablecoins.

How the Bridge works

The Shareslake Bridge usage is really simple, you just select the direction of the transaction, i.e. Shareslake -> Cardano or Cardano -> Shareslake, and specify the destination address.

When you enter the bridge you will see the following screen to select the transaction direction:

Shareslake Bridge home page
Selection of inter-network transaction direction

Once you select the direction, you will see the following screen to connect your wallet, specify the destination address (on the destination network) and the Redeemable amount, and the submit button.

Shareslake Bridge create transction
Wallet connection and destination address

And that's all! Just sit and relax while the transaction appears on the destination address of the destination network. It will just take some minutes required to ensure transaction settlement.

How to get Redeemable in Cardano

There are currently two options to obtain Redeemable in Cardano mainnet. Obtain it by exchanging other assets in Cardano DEXes. Or, obtaining it by interacting with Shareslake reserves through the dashboard and moving it to Cardano through the bridge.

On our website, you will share information about the Redeemable policyID and asset name for Cardano mainnet.

For the technophiles


To limit the impact of possible issues we implemented "firewalls" per network.

The actual home of Redeemable is Shareslake, where the amount of Redeemable is guaranteed to not change. This means, that a user who has Redeemable in Shareslake does not need to worry about any possible errors in a bridge.

Let's suppose we want to send 10 Redeemable from Shareslake to Cardano. The firewall will lock 10 RED in Shareslake and the bridge will mint 10 Redeemable in Cardano mainnet. Then, when we want to move it back, the bridge will burn 10 Redeemable in Cardano and unlock the Redeemable in Shareslake.

Now, let's imagine that a minting issue happens in Cardano, and more Redeemable than the amount that was actually locked in Shareslake is minted. In this case, only 10 Redeemable will be able to come back to Shareslake (the amount that was locked) so the issue does not get propagated to Shareslake mainnet and will only affect the people who moved Redeemable to Cardano.

In that way, Cardano as well as any future network added to the bridge are isolated, limiting the impact of any possible errors.


The bridge makes use of transaction metadata to know the destination network and address. Also, when the minting in the destination network happens, for example in Cardano, the bridge adds the origin network and transaction hash that produced such minting to make easier the transaction traceability.

Bridge processing time

The bridge processing time is highly pegged to the network block production. Before processing a Tx on the destination network the bridge waits for some blocks to be added on top of the origin network transaction. This simple mechanism helps to avoid processing a transaction that can be rolled back later, which would result in a ghost minting (minting Redeemable in Cardano that is not locked in Shareslake).

We hope to see you around the bridge, and as always, our Discord community is open to all of you!

Inflation, stablecoins and Redeemable

The blockchain and DeFi universe continue growing engaging more and more people every day. Nevertheless, what attracts most people is also what keeps others away. We are going to talk about volatility, inflation, stablecoins, and Redeemable, the new coin from Shareslake.

Inflation, stablecoins and Redeemable

There has been a lot of noise regarding the continuous shifts in cryptocurrency and token values, and the majority of people, whether involved or not with this new technology, are aware of it. Nevertheless, there is still a reluctant majority that prefers to stay away from daily changes of 10% of their savings.

Stablecoins, among other things, are meant to solve this issue. Their peg to a traditional currency eliminates the wild fluctuations, allowing cautious people to jump into the crypto world. Nonetheless, stablecoins have the same undesirable trait as regular money: inflation.

Even if the price of a stablecoin is fixed, people will still be unable to preserve their wealth, because the stablecoin will lose value over time as a result of inflation, just as a regular currency would. Thus, stablecoins cannot be considered stable in terms of ‘real value.’

People are forced to lock their savings into investment products if they want to preserve their wealth, and it prevents the owner from using the funds. In order to preserve wealth while still being able to spend the money, Shareslake created the Redeemable coin. It’s the same thing as being inflation-protected without locking up funds.

Redeemable is backed up by a reserve. Users can fund the reserve to obtain RED or burn RED to get back their USD. The reserve relies on the most secure traditional assets (bonds and TIPS) to generate and accumulate interest. Unlike stablecoins, where the issuer takes such interest as profit, the Redeemable reserve accumulates it, increasing the total reserve value. Since the Redeemable supply remains unchanged during this process, each Redeemable’s backing increases, thus its value.

Redeemable is designed to adjust its value with the CPI (Consumer Price Index). The CPI measures the change in living costs. Using Redeemable one can expect to pay always the same amount of RED for a product or service, no matter how its USD price evolves due to changes in living costs.

Consider a $1000 bicycle. You may buy such a bicycle today for $1000 or 1000 REDs. By 2027, if there is a yearly inflation rate of 4%, the same bicycle will cost $1220. However, it will still cost 1000 RED, as the RED value would have changed in line with living costs.

Redeemable stands out for being ideal to maintain treasuries and cash reserves in an efficient way and aims to attract conservative people and institutions to the crypto world.

Shareslake was built as a Cardano-based network. It was the first Cardano fork ever, released on May 1st, 2022. That means Redeemable offers all the Cardano features but with a base coin that enjoys price stability and inflation protection.

Redeemable will also exist in other blockchain networks. Shareslake is building bridges to interconnect the network with other ecosystems and provide them with Redeemable advantages, starting with Cardano.

Shareslake and Redeemable were built to serve as the base for upgrading the traditional stock markets, making them more open, transparent, and accessible, and it follows a special mindset of helping small and medium size companies to grow by providing extra funding.

A new kind of stock market with unlimited potential is being forged by Shareslake.

What is Shareslake's multi-chain Bridge?

One of Shareslake's objectives is to make the Redeemable coin multi-chain. This is, being able to move and exchange Redeemable not only in Shareslake's network but also in other widely adopted networks.

How can Redeemable benefit other networks?

Blockchain users usually exchange coins and tokens with stablecoins for protection during volatility periods. Nevertheless, stablecoins, even if they are pegged to a fiat currency, are still subject to fiat currency inflation.

Redeemable offers a new type of cryptocurrency which allows blockchain users to protect not only from crypto volatility but also from fiat inflation at the same time. This is possible thanks to the unique setup of a reserve that backs up Redeemable value. Such reserve translates holding Redeemable into preserving the purchasing power over time. Read more about Redeemable coin here.

Moving Redeemable between networks opens the possibility of swapping other networks' tokens or coins by Redeemable directly from other networks' decentralized exchanges and token swap platforms. It also makes the listing of Redeemable easier in exchanges when they already support tokens from other networks. And finally and most important, it allows users of any blockchain to preserve their purchasing power when they like to maintain liquidity in their wallets.

How does the bridge work?

Shareslake's bridge works as easily as connecting your wallet to the bridge website. Then, you can select the network and address to which you intend to transfer Redeemable, and, after signing and submitting the transaction, your funds will be moved to the target network and address.

There is a token representing Redeemable on each network supported by the bridge. When the bridge performs the movement of funds between networks it issues and burns the amount to transfer or locks and unlocks the same amount into Shareslake's network.

Shareslake's bridge has been designed in a way that Shareslake's network users are always protected from minting/burning issues. A user who does not move Redeemable outside of Shareslake's network will never be affected by an error in the bridge. This is achieved by letting come back to Shareslake's network only the amount of Redeemable that went out before. Each network added to the bridge implements this same mechanism separately, so users moving Redeemable on network A will also never be affected by an issue on network B.

Current state and future of the bridge

Currently, the bridge is in an advanced development state. Initially, it will support moving Redeemable between Cardano and Shareslake. Then, we will continue working on adding new networks such as Ethereum, Solana, etc.

The bridge initially will support the movement of Redeemable only, but it will be evolving to support multi-asset transactions between networks. In the long term, the bridge will support remote execution of smart contracts, which means calling contracts of any network from Shareslake and vice versa.

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