Anyone can help add data to the CCOP protocol, but the contract does not accept ownership data that it implicitly trusts. Instead, the protocol takes contractAddress
and tokenId
pairs, looks up the ownership on a compliant ERC721 contract, persists it on the Layer 1 protocol and then reports ownership to integrated chains via existing bridges.
Rather than contributing data directly, addresses that interact with the protocol are paying the transaction costs of persisting and broadcasting ownership data. It is up to users to decide if the CCOP data is valuable, and whether it will be beneficial to arbitrage the transaction cost against the protocol rewards.
We believe having L1 ownership data on other blockchains will prove to be incredibly valuable, but interested contributors should reach these conclusions on their own.