Nice to see people working on this idea, great initiative.
Curious if you're familiar with REN VM? (I would guess that you are)
Most of this is way over my head but it might be useful to understand how it functions. It might provide an alternative to a wrapped version while also being a trustless solution.
This video may be relevant to the discussion and breaks down RENVM for laymen like myself.
RE: Decentralization of Wrapped Hive [discussion]