The Cross-Chain Roundup #40
Week Roundup (August 21 – August 27, 2023)
Welcome to another insightful edition of The Cross-Chain Roundup!
In this week's roundup, we delve into the latest advancements in the dynamic world of cross-chain technology. From Optimism's groundbreaking ERC20 token bridge to NF3 Exchange's monumental NFT cross-chain swap, the landscape is buzzing with innovation. Join us as we explore the interconnected realm of blockchain networks, where seamless liquidity, interoperability, and revolutionary solutions are shaping the future of cross-chain technology. As the world of cross-chain continues to evolve, we are excited to present updates, developments, partnerships, and achievements from the past week. Let's dive into the cross-chain universe and discover the transformative potential it holds.
📰 Cross-Chain Updates
In a highly anticipated move, Optimism, a leading Layer 2 scaling solution, has unveiled a new feature that empowers users to effortlessly bridge diverse standard ERC20 tokens to the Optimism Mainnet (OP). Responding to widespread demand within the blockchain community, this development marks a significant stride in cross-chain interoperability empowering users to effortlessly harness the benefits of the Optimism Mainnet for their ERC20 assets. With Optimism's commitment to innovation and user-centric solutions, the future of decentralized finance is looking brighter than ever.
In a groundbreaking development, KiloEx has unveiled its latest integration with the opBNB testnet, enhancing its capabilities within the ever-expanding realm of blockchain innovation. The announcement comes as a momentous step forward for both KiloEx and the BNBCHAIN community. Users are now empowered to participate in seamless cross-chain transactions, as they gain access to the opBNB testnet through the platform. With the introduction of this integration, KiloEx solidifies its commitment to the DeFi sector, gearing up for an imminent mainnet launch while redefining the landscape of decentralized finance on the opBNBchain. Going forward, Rhino.fi has also announced its integration with the opBNB mainnet. This integration stands as a testament to Rhino.fi's commitment to enhancing the blockchain landscape. With this development, users now have the unprecedented capability to effortlessly facilitate deposits and withdrawals between the Binance Smart Chain (BSC) and opBNB chains. The newly introduced rhino bridge serves as the conduit for this frictionless cross-chain movement. As Rhino.fi's bridge goes live, it opens doors to a new era of seamless and secure cross-chain transactions, empowering the crypto community at large.
An exciting collaboration is on the horizon as OriginTrail and GnosisChain join forces for a groundbreaking integration. The partnership's commencement hinges on reaching a significant milestone — the bridging of the utility token $TRAC. Renowned for their pioneering strides in AI-powered prediction market solutions, GnosisChain's involvement stands to elevate the already dynamic Multichain Trusted Knowledge Foundation. The synergy between the technologies of GnosisChain and OriginTrail is poised to benefit users and creators within both ecosystems, promising a new realm of possibilities for cross-chain interactions. As the partnership evolves, users and builders are encouraged to explore additional support avenues via ChatDKG.ai and treasury proposals facilitated by GnosisDAO. Anticipation mounts as this integration marks a significant step towards enhancing cross-chain functionality and collaboration.
A groundbreaking development has taken the cross-chain landscape by storm as Connext Network unveils DND (Delta-neutral Dividend), a revolutionary on-chain synthetic dollar project integrated with Connext's cutting-edge xCall technology. Developed in collaboration with DividendNeutral, DND is set to transform the way users interact with their assets across various supported chains while maintaining a stable dollar value through smart reinvestment of staked $ETH rewards. The integration leverages Connext's xCall, a core cross-chain primitive that harnesses underlying canonical bridges to facilitate secure and expressive cross-chain interactions. DND currently supports seamless deposits of $ETH and $wstETH on platforms like Arbitrum and Optimism, with withdrawal capabilities across Ethereum, Optimism, Arbitrum, BNB Chain, Gnosis, and Polygon. With plans to expand investment limits and the promise of additional networks, DND, backed by Ariadne Labs, embraces decentralization and trustlessness, offering users access to Aave positions and rebalancing functionalities.
In a momentous leap forward, DesigLabs announces its live integration with the Moonbeam Network mainnet, marking the inception of a strategic partnership aimed at revolutionizing the Web3 space. This milestone launch not only solidifies the collaboration between DesigLabs and Moonbeam Network but also underscores the shared commitment to establishing a secure, enjoyable environment within the blockchain realm. Moonbeam's robust ecosystem, powered by Polkadot's infrastructure, brings unparalleled cross-chain connectivity and scalability to Desig, amplifying its capabilities. This groundbreaking integration usher in a new era for the Moonbeam community, enabling them to harness Desig's battle-tested technology to experience multisig functionality like never before. DAO owners, project founders, and treasury managers can now tap into the Desig Wallet, a chain-agnostic multisig solution, and its tailored features on Moonbeam, further enriching the cross-chain landscape.
Prime Protocol introduces a transformative concept with the launch of Prime Points, allowing users to play a pivotal role in driving the growth of an innovative cross-chain ecosystem. By depositing, borrowing, and referring friends, users can amass Prime Points, establishing a quantifiable measure of their contribution. This innovative program builds upon the Prime Early Adopter Program, expanding avenues for earning points and engaging with the platform. Supporting a range of chains including Avax, Arbitrum, Polygon, Ethereum, Moonbeam Network, and Binance Smart Chain, Prime Protocol encourages participation by offering up to 3x points for deposits and up to 9x points for borrows. Additionally, a referral system rewards users with 10% of points earned by their referred individuals, fostering a thriving community.
The Moonbeam Network receives a significant boost as Pyth Network, the pioneering financial oracle, announces the addition of support for $GLMR/$USD price feeds. This integration brings substantial value to developers and DeFi protocols operating across Moonbeam's supported chains, enabling them to harness accurate and real-time price data. The Pyth $GLMR/$USD price feed, now accessible on over 30 blockchains, caters to Moonbeam's native gas token, $GLMR, which fuels the Ethereum-compatible smart contract parachain on the Polkadot network. With this partnership, Moonbeam's ecosystem gains access to a trusted oracle solution, fortifying its position within the ever-evolving cross-chain landscape. The collaboration underscores the continual efforts to enhance interoperability and foster seamless interactions across diverse blockchain platforms.
deBridge, a prominent player in the cross-chain ecosystem, has announced its successful integration with Optimism, a leading Layer 2 scaling solution. The integration brings forth a high-performance interoperability bridge that connects Optimism, Base, Solana, and other supported chains. Optimism's well-established status and innovation in the DeFi landscape made it a prime candidate for integration into deBridge's expanding network. This collaboration allows developers to create lightning-fast, native cross-chain trading experiences with guaranteed rates, eliminating MEV risks and locked liquidity exposure. By leveraging deBridge's generic messaging and DLN API, developers can seamlessly offer top-tier user experiences across the Optimism stack and the supported chains. The integration marks a significant milestone in deBridge's mission to enhance cross-chain value transfers and applications.
Acala Network has unveiled its groundbreaking Acala Multichain Asset Router 1.0, allowing seamless liquidity transfers across various Wormhole-supported blockchains and Polkadot parachains. This innovation marks a significant step towards achieving ubiquitous liquidity in the multichain ecosystem, streamlining asset transfers within a single transaction. Leveraging Polkadot's Cross-Consensus Message Format (XCM) and Wormhole's interoperable messaging protocol, the Router establishes trustless and permissionless connectivity between different chains. This advancement not only addresses the challenges of fragmented liquidity but also enables powerful use cases such as cross-chain interactions for dApps and parachains. With the Acala Multichain Asset Router, Acala Network aims to reshape the landscape of liquidity provision in the Web3 era, fostering cross-chain collaboration and enhanced developer experiences.
DackieSwap has announced that Wormhole Connect is now seamlessly embedded into the DackieSwap interface, bringing effortless Web3 asset bridging across Layer 1 chains to the Base ecosystem. This partnership, powered by Wormhole, enhances the asset flow between different chains and positions DackieSwap as a top-tier DEX on the Base network. Users can now access the power of DackieSwap to swap tokens, stake NFTs, and earn rewards while efficiently bridging their assets to Base through Wormhole Connect. The integration opens doors for a smoother and more interconnected cross-chain experience, paving the way for further advancements in the realm of decentralized finance.
Breaking barriers in NFT interoperability, NF3 Exchange has accomplished a remarkable feat by successfully executing the first-ever cross-chain swap involving an NFT. Leveraging a y00ts NFT on the Polygon network and a DeGods NFT on the Ethereum network, NF3 Exchange employed the capabilities of Wormhole to bridge these distinct ecosystems, marking a significant stride forward. As NF3 Exchange continues its journey, this achievement ignites excitement and anticipation for a future of seamless P2P direct swaps in the NFT realm.
Key data insights from the bridging ecosystem in the past week👇
Disclaimer: Data sourced from DefiLlama
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