The Cross-Chain Roundup #42
Week Roundup (September 4 – September 10, 2023)
Welcome to the latest edition of The Cross-Chain Roundup. In this electrifying edition, we are thrilled to unveil how Celer Network's cBridge has stretched its wings to include the Optimism Mainnet. It is like adding rocket boosters to your spaceship, now enabling you to hop between different blockchain galaxies seamlessly. But wait, that’s not all! We also explored Across Protocol Expanding Cross-Chain Reach with the Integration of BuildOnBase and Axelar Network Boosting Cross-Chain Interoperability for Mantle and Beyond. But we are not done yet! There’s so much more! So, get ready for an interstellar adventure as we explore in detail the recent developments in the cross-chain ecosystem.
📰 Cross-Chain Updates
In a major development, CelerNetwork's cBridge has announced the expansion of its support for Circle's Cross-Chain Transfer Protocol (CCTP) to now include the Optimism Mainnet. This expansion opens up exciting opportunities for seamless cross-chain transfers within the Optimism ecosystem, with CelerNetwork at the forefront of facilitating these transactions. Users can now leverage cBridge's cross-chain bridge and developer tools to easily transfer assets between different chains, further enhancing the interoperability of blockchain networks.
Across Protocol has announced the integration of BuildOnBase (Base), a new Ethereum Layer 2 solution, into its cross-chain ecosystem, strengthening the bridge between different blockchain networks. With the launch of on-chain transfer routes to and from Base, users can now seamlessly interact with this scalable Layer 2 solution. Base's mission to onboard millions of Web3 users aligns perfectly with Across's vision for improved cross-chain interoperability. This integration is set to have a positive impact on scaling the entire Web3 ecosystem, fostering a more connected blockchain landscape.
Axelar Network has made a significant stride in cross-chain interoperability by extending support to Mantle, a prominent optimistic Ethereum Layer 2 (L2) rollup specializing in liquid staking derivatives. This integration enables dApps on Mantle to tap into a wide array of interoperability tools and services, powered by Axelar's Global Messaging Protocol (GMP). A diverse set of projects like 88x Finance, AGNI Finance, BetBitX, Crust Finance, FusionX Finance, and Lendle.xyz are now leveraging Axelar's technology to facilitate cross-chain data exchange and interoperable services, enhancing their capabilities in the cross-chain ecosystem. Axelar's commitment to making cross-chain interactions seamless continues to foster innovation across the blockchain space.
Wormhole, a prominent cross-chain protocol, has launched a token bridging solution that connects Solana and Cosmos blockchains. Users can now seamlessly bridge canonical tokens like $SOL, $SUI, $APT, and $BONK from Solana to Osmosis, a leading interchain decentralized exchange (DEX) on the Cosmos network. This integration enhances cross-chain liquidity and interoperability, allowing assets to flow effortlessly between these two distinct blockchain ecosystems. Liquidity providers can participate in concentrated liquidity pools for Wormhole assets on Osmosis, marking the beginning of an exciting cross-chain journey with potential incentives in discussion on the Osmosis governance forums.
In a groundbreaking development, Fantom has integrated with Add3, an EVM smart contract management platform, fostering cross-chain collaboration that promises to redefine smart contract deployment. Developers are set to benefit from near-instant deployment, drastically reducing development time and complexity. Entrepreneurs gain access to Add3's Web3 no-code platform, enabling them to harness blockchain's potential without coding expertise. Enterprises can expect enhanced scalability and security, while governments can leverage comprehensive token and digital bond management capabilities. This integration showcases the transformative potential of cross-chain cooperation in shaping a decentralized future across various sectors.
In a significant cross-chain development, Binance has successfully integrated USD Coin (USDC) onto the Optimism network, marking a major milestone for blockchain interoperability. Users can now deposit USD Coin (USDC) on the Optimism network, with the exchange planning to open withdrawal options once a sufficient deposit threshold is reached. To access their respective deposit addresses and the USD Coin (USDC) smart contract address on the Optimism network, users are directed to the Deposit Crypto page. It is essential to note that only native USD Coin (USDC) deposits through the Optimism network will be supported, emphasizing the importance of proper usage of the smart contract address. Binance's move further bridges the gap between different blockchain ecosystems, providing users with cross-chain functionality and greater accessibility to USDC.
LlamaNodes, renowned for its commitment to simplifying DeFi, has made a significant move into the cross-chain arena by launching its RPCs on Arbitrum. The collaboration offers users a multitude of benefits, including unmatched speed, cost savings, and privacy protection. Developers can take advantage of near-instant smart contract deployment, reducing development time and complexities. This integration showcases the potential for cross-chain cooperation to reshape the landscape of DeFi, delivering enhanced experiences and efficiency across multiple blockchain networks.
Deri Protocol has introduced its latest innovation, Deri Chain (d-Chain), a Layer 3 rollup built on Arbitrum, aimed at enhancing cross-chain trading experiences. d-Chain serves as the dedicated AppChain for Deri V4, offering a seamless trading experience with faster order execution and lower gas costs. By harnessing the power of Arbitrum Orbit, Deri Protocol empowers cross-chain innovation, positioning itself at the forefront of the evolving blockchain landscape. The private alpha testing phase of d-Chain is underway, promising further advancements in the world of decentralized derivatives trading.
Espresso Systems has unveiled the Cortado testnet, featuring integration with the OP Stack, a move aimed at empowering developers to decentralize transaction sequencing while fostering cross-chain interoperability. The Espresso Sequencer, at its core, acts as a consensus protocol with remarkable speed, high throughput, and the potential to scale to thousands of nodes. By enabling any rollup to utilize the Espresso Sequencer for transaction ordering and data availability, this initiative aims to reduce reliance on centralized sequencers and enhance credibility, security, and efficiency in cross-chain operations. As part of the OP Stack, this integration signifies a significant step towards achieving decentralization ideals, benefiting developers, projects, and the broader Optimism Collective.
Exciting developments in the cross-chain realm as Krystal Wallet announces its support for opBNB, the latest Layer 2 scaling solution on BNB Chain. This integration empowers users to seamlessly store, receive, and interact with DApps on opBNB, significantly enhancing the user experience and transaction efficiency. By leveraging opBNB's off-chain capabilities, Krystal Wallet aims to provide faster and more cost-effective transactions, reducing gas fees and boosting network performance. With opBNB capable of handling up to an impressive 40,000 transactions per second, this partnership marks a significant step towards a more efficient and speedier cross-chain ecosystem.
In a game-changing move for the cross-chain landscape, Project TXA introduces TXA Network and Tacen Swap, solving critical challenges related to custody risk and cross-chain bridging. This innovation, now live and proudly integrated with BNB Chain, offers an affordable, user-friendly solution with widespread community adoption. Tacen Swap, powered by $TXA Staking, sets a new standard for decentralized exchanges (DEXs) by providing a centralized order book experience while ensuring user self-custody. The TXA Network's community-driven approach incentivizes staking members to enhance network functionality and security, while its architecture mitigates bridge risks, marking a significant advancement in the cross-chain ecosystem.
Key data insights from the bridging ecosystem in the past week👇
Disclaimer: Data sourced from DefiLlama
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