The Cross-Chain Roundup #41
Week Roundup (August 28 – September 3, 2023)
From cross-chain swaps to revolutionary bridging solutions, the cross-chain ecosystem continues to evolve, offering more interoperability, accessibility, privacy, and efficiency to users and developers alike. In this edition of the Cross-Chain Roundup, we explore a series of exciting partnerships, innovations, and integrations that are reshaping the way blockchain networks communicate and collaborate. Join us as we explore the most exciting news and partnerships that are shaping the future of cross-chain technology:
📰 Cross-Chain Updates
Celer Network has taken a groundbreaking step in enhancing cross-chain interoperability by integrating its cBridge with Oasis Sapphire. This significant development allows for seamless token bridging, enabling users to transfer popular assets like ETH, USDC, USDT, WBTC, BNB, and MATIC between multiple blockchain ecosystems, including Ethereum, BNB Chain, and Polygon. The integration aligns with the Oasis Network's commitment to privacy and data confidentiality, marking a pivotal moment in their strategic partnership. Celer's support for asset and token bridging is powered by the xAsset model, while the Inter-chain Messaging Framework facilitates the creation of dApps with cross-chain application logic. This empowers developers to build decentralized applications that incorporate personal information securely stored on Oasis Sapphire as confidential NFTs, thereby ushering in a new era of privacy, interoperability, and decentralized innovation in the blockchain space.
DLN, the High-Performance Cross-Chain Trading platform, has introduced a game-changing feature known as Batch Unlocks, offering substantial gas cost reductions of up to 80% for cross-chain trades. This innovation revolutionizes the cross-chain trading landscape. DLN's approach to cross-chain trading eliminates the need for liquidity pools, ensuring native cross-chain trades that confirm in seconds while avoiding wrapped assets, MEV, and AMM slippage. Instead of routing trades through liquidity pools, DLN employs its liquidity network, enabling assets to be sent directly from private market makers to users at lightning speed and optimal rates. Previously, each trade settled on DLN incurred gas costs for the private market maker. However, with batch unlocks, DLN now allows private market makers to bundle multiple transactions, accumulating up to 10 successfully fulfilled orders before unlocking on the source chain. This innovative approach delivers even better rates for cross-chain trades, making DLN a leading player in the cross-chain trading space.
In a bid to simplify the process of transferring assets and liquidity, Guacamole has delivered an exciting sneak peek at the integration of Mayan Finance and Wormhole into its trading section. This strategic move unlocks the ability to bridge assets seamlessly, encompassing Ethereum ($ETH), Binance Coin ($BNB), Avalanche ($AVAX), and Arbitrum ($ARB) to Guacamole's native tokens ($GUAC) and Solana ($SOL). This integration promises to provide users with a user-friendly experience for cross-chain asset transfers, making it easier than ever to navigate the complexities of the blockchain ecosystem. Guacamole's commitment to enhancing interoperability ensures that users can move their assets efficiently across multiple chains, fostering greater accessibility and convenience in the world of decentralized finance.
Nova Wallet has unveiled an exciting update for cross-chain enthusiasts, offering support for a range of new tokens on HydraDX. Users can now seamlessly manage their assets, including Bifrost Finance's BNC, as well as DAI, WETH, and WBTC (Moonbeam Network routed liquidity bridged by Wormhole Crypto), all within the HydraDX ecosystem. This integration enhances the accessibility and convenience of cross-chain asset management, providing a user-friendly experience for crypto enthusiasts. With Nova Wallet's commitment to interoperability, users can effortlessly navigate the intricacies of the blockchain universe, backed by the robust support of HydraDX. This development marks a significant stride towards a more interconnected and user-centric cross-chain landscape.
Wombat Exchange is set to redefine cross-chain swaps with the launch of its groundbreaking feature, enabling users to effortlessly exchange native assets across different blockchain networks through Wombat's cross-chain pools. This long-awaited development is poised to transform the way users navigate the complexities of cross-chain trading. The innovation leverages Wormhole Relayers to ensure secure and seamless transmission of cross-chain messages, guaranteeing the safety and reliability of these transactions. With the Cross-Chain Pool Beta scheduled to go live on September 6th, users can look forward to a host of benefits, including seamless and efficient cross-chain swaps, enhanced liquidity spanning multiple chains, and an exciting cross-chain fee-sharing opportunity for liquidity providers. Wombat's commitment to simplifying cross-chain trading experiences promises to open new doors of opportunity for cryptocurrency enthusiasts.
DerpDEX is set to revolutionize the cross-chain bridging experience with the integration of Wormhole Connect, a game-changing bridging widget provided by Wormhole Crypto. This strategic move allows DerpDEX users to seamlessly bridge assets between major chains without leaving the platform's website, simplifying the process and enhancing the overall on-chain experience. Wormhole Connect, known for its industry-standard cross-chain messaging protocol, links to over 20 prominent blockchain ecosystems, making it a trusted choice for projects like Circle and Uniswap. The integration enables DerpDEX to provide its users with access to liquidity across various chains, eliminating the need for external bridge redirects. Additionally, Wormhole Connect streamlines gas payments and offers customization options, making it a valuable addition to DerpDEX's feature set. This partnership reflects DerpDEX's commitment to enhancing the cross-chain experience for its growing community.
Xenify, a leading blockchain platform, is thrilled to announce its partnership with Swing, a prominent cross-chain liquidity protocol. Swing's cutting-edge technology facilitates frictionless asset bridging and swapping across an extensive network of over 25 blockchain chains. With this integration, Xenify users can now access optimal swap rates and liquidity aggregation, ensuring they always find the best deals, regardless of the blockchain they're on. Furthermore, Xenify rewards users with its native token, $XNF, for cross-chain transactions, enabling them to unlock exciting benefits, including earning BNB and ETH.
In a remarkable showcase of innovation, Avalanche introduces Teleporter, the first native subnet-to-subnet EVM messaging platform on its network, aiming to solve cross-chain challenges. Renowned developer Connor Cheveli demonstrates the power of Teleporter through a user-friendly UI, allowing users to teleport tokens seamlessly between Avalanche Subnets. The open-source codebase offers UI developers the opportunity to explore and contribute to the project's development. Teleporter and AWM (Avalanche Wallet) are in the experimental phase, with plans to roll them out to both existing subnets and the C-chain shortly. Avalanche is dedicated to making Subnet interoperability frictionless, opening new doors for the blockchain ecosystem. This innovative technology is currently in the experimental and testing phases, with plans to further refine and deploy it across existing subnets and the C-chain in the coming months. Teleporter and AWM set the stage for substantial subnet growth, fostering excitement for the new use cases that will emerge on this interoperable platform.
In a significant development, an on-chain vote has resulted in the transition from Optics to Wormhole as the chosen cross-chain messaging protocol for interacting with Uniswap on the Celo network. This decision marks Wormhole's fourth deployment in the Uniswap ecosystem, solidifying its position as the most utilized cross-chain provider for Uniswap. Celo, renowned for its mobile-first international payment infrastructure for digital currencies, selected Wormhole to ensure that the cross-chain governance mechanism aligns seamlessly with Uniswap's recognized structure. The rapid growth of Layer 1 (L1) and Layer 2 (L2) solutions built on the Optimistic Ethereum (OP) stack underscores the necessity of premier decentralized exchanges like Uniswap. Wormhole's ongoing collaboration with Uniswap demonstrates its commitment to facilitating seamless cross-chain interactions within the evolving blockchain landscape.
Polygon CDK (Chain Development Kit) is set to reshape the appchain ecosystem by addressing the "walled garden" issue. Traditionally, appchain ecosystems suffered from fragmented liquidity and interoperability friction, but Polygon CDK introduced a game-changing solution. This open-source and modular codebase empowers developers to create ZK-powered Layer 2 (L2) chains on Ethereum while seamlessly connecting them through a common ZK bridge. This innovation ensures that every chain within the Polygon ecosystem becomes effortlessly interoperable, fostering near-instant finality and cross-chain execution without requiring users to run full nodes.
Connext has unveiled an innovative cross-chain airdrop for their NEXT token, setting a new standard in the crypto space. In a pioneering collaboration with Gelato Relay, users can now claim NEXT tokens on their preferred chain without incurring any gas fees. Gelato Relay's cutting-edge 1Balance system enables users to deposit USDC on the Polygon network to cover relay costs across various chains, ensuring a seamless and cost-effective experience. This integration leverages the sponsoredCall SDK method, ensuring secure and gasless transactions by forwarding user requests to Gelato Relay, with Connext funding the 1Balance to sponsor transactions. Furthermore, Gelato Relay has boosted its transaction throughput, accommodating up to 1,000 relay requests per minute on each chain, ensuring a smooth and efficient NEXT token claiming process even during peak demand.
Stargate, a leading cross-chain platform, has made an exciting deployment to Kava, opening the doors for users to access native USDT within the Cosmos ecosystem. As Kava secures native USDT, Stargate ensures a seamless and secure experience for users looking to transact with the popular stablecoin. Moreover, Stargate's integration with Kava allows protocols built on the Stargate platform to offer effortless one-click cross-chain interactions, enhancing interoperability and usability across the Cosmos network. To leverage this new capability, users can bridge assets between various supported networks, making Stargate a pivotal player in expanding cross-chain functionality. Access to this native USDT on Kava adds a valuable dimension to Stargate's growing ecosystem.
Etherspot, the multi-chain developer platform, has announced its integration with Swing's cutting-edge cross-chain liquidity solution, ushering in a new era of hassle-free, cross-chain swaps for developers in the Web3 space. This groundbreaking partnership enables developers to seamlessly incorporate integrated token swaps, tapping into a vast spectrum of onchain liquidity across more than 16 EVM chains. Etherspot's mission to make Web3 accessible to the masses aligns perfectly with Swing's vision, as it streamlines the process of offering cross-chain swaps without compromising user experience. This integration simplifies the traditionally complex task of accessing liquidity from multiple sources, allowing developers to focus on building core features while ensuring users receive optimal rates. As both Etherspot and Swing share the goal of lowering barriers to Web3 adoption, this collaboration promises to empower developers and enhance the user experience within the blockchain ecosystem.
Key data insights from the bridging ecosystem in the past week👇
Disclaimer: Data sourced from DefiLlama
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