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$1,200 USD - WrappedHBAR: Create a cross EVM erc20 token transaction solution
hashingsystems
JavaScript, HTML, CSS
### WrappedHBAR - cross EVM erc20 token transaction solution
### Prize Bounty
$1,200 USD (in HBAR).
### Challenge Description
HBAR is not available in the Ethereum network. This limits its utility of the token as it isn't available for Ethereum developers, who could use the File Storage features. Hedera Hashgraph's smart contracts are EVM-compliant
The goal is to produce a procedure to let Hedera users trade their HBAR in the Ethereum network as an ERC20 or ERC777 token.
WBTC provides a way for Ethereum developers to use Bitcoin. This requires a custodian to verify the assets. We envision a solution that allows end-users to create WrappedHBAR via smart contracts hosted on Hedera and Ethereum, without needing a custodian to take ownership of the assets.
This could work in 7 steps:
1. Alice deposits HBAR to a Hedera contract creating a balance for her account.
2. Alice submits her intent to move her hbar to another chain by submitting a secret value along with an identifier of the ETH contract she wishes to redeem the whbar from. This returns a redeemable hash and locks the hbar in the Hedera contract.
3. Alice submits the hash along with the secret value to the ETH contract which mints WHBAR ERC20 in the ETH Network.
4. Alice sends the ERC20 token to Bob.
5. Bob submits his intent to redeem the whbar on the Hedera network by submitting a secret value to the ETH contract. This returns a redeemable hash.
6. Bob submits the hash to the Hedera contract which unlocks and redeems the locked hbar to his account.
7. Bob then transfers the hbar to his account from the contract.
### Resources
This bounty is based on [Hedera Hashgraph](https://hedera.com) and uses the MetaMask-like extension [Composer](https://chrome.google.com/webstore/detail/composer-for-hedera-hashg/hdjnnemgikeoehneddegfcmkljenlean)
You should use the [Console](https://console.hashingsystems.com) to deploy your contracts most efficiently.
### Guidelines
WHBAR should be used as a 1-1 value transfer to tokenize HBAR. There should be 2 contracts, one in Hedera, and one in Ethereum.
Work on your fork of the [WrappedHBAR repository](https://github.com/hashingsystems/WrappedHBAR), implement features, test features, then PR.
The prize will be awarded to the first valid submission.
### Submission Requirements
A client-based solution that provides a 1:1 transfer between HBAR and WHBAR from Hedera to Ethereum and back. Must use MetaMask and Composer for Hedera.
### Submission Deadline
11:59 pm Eastern on December 16th
### Judging Criteria
The prize will be awarded to the individual/team that produces the best approach and the most user-friendly solution while respecting the challenge description.
### Winner Announcement Date
December 18th
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