The Cross-Chain Roundup #3
Week Roundup ( 5-11 December 2022 )
Welcome to the latest edition of the Swing newsletter, a weekly digest of everything that’s happening in the rapidly evolving world of cross-chain. New interoperability breakthroughs; integrations; innovative tech and much more. It’s all here, broken down into bite-size chunks for you to digest at your leisure.
This week there’s a lot to cover.
📰Cross-Chain Updates
1. deBridge Launches DLN Educational Course
deSwap Liquidity Network (DLN) is the next major release to be shipped by deBridge. It will be utilized by cross-chain projects including Swing to deliver greater capital efficiency on multiple EVM chains. To help users grasp the workings of DLN, deBridge has launched an educational initiative with the aid of web3 learning platform 101.
2. Hop Protocol Adds Bridging Support for zkSync
Hop Protocol is laying on a bridge to the zkSync ecosystem. Almost 8 million votes were cast in favor of zkSync becoming the next network Hop supports. Hop allows tokens to be sent across rollups and their shared Layer 1 network, supporting the routing of funds to Ethereum scaling solutions including Polygon.
3. DEX Aggregator ZeroSwap Integrates With deBridge
Multi-chain DEX ZeroSwap now supports integrated cross-chain swaps via deBridge. The advantages of this include increased liquidity and better pricing. There’s also the convenience of being able to efficiently move assets across chains. ZeroSwap supports such networks as Avalanche, Polygon, and Ethereum.
4. Astar Network Launches First Blockchain Light Client on Polkadot
Light clients are essential in enabling blockchain users to quickly sync with the network and broadcast transactions. Otherwise, the need to download the entire blockchain’s history can ruin the user experience. Astar has become the first Polkadot parachain to support a light client. Its release should make it easier for devs to create highly scalable dApps.
5. Synapse Protocol Adds Support for Bridging to Canto
Canto is a new layer1 that’s designed for DeFi. It now boasts a better stablecoin bridge thanks to the arrival of Synapse. The bridging protocol allows USDC and USDT to be moved to and from Canto. These stablecoins utilize the native Canto DEX.
6. Rainbow Adds Bridge Aggregator
Ethereum web3 explorer Rainbow has partnered with Socket to launch a bridge aggregator. The service will enable users to quickly determine the cheapest way to move money between networks. Hop and Across’s bridging protocols have already been integrated.
7. Balancer Fork Hodlr Is Coming to Aurora
Aurora Network is getting a new DEX in the form of Hodlr. The newest DEX on the chain will bring boosted capital efficiency and innovative types of pools. These, of course, are features pioneered by Balancer, whose DEX Hodlr is forked from. The DEX is set to launch on December 14.
8. Polygon Launches Music NFT Marketplace
A new music streaming and digital collectible marketplace, LGND Music, has launched on Polygon in partnership with Warner Music Group. LGND Music enables fans to play music as digital collectibles or “virtual vinyl” on the go. Select Warner artists will also launch their digital collectibles and connect fans with special content and experiences. The news arrives at a time when NFT usage on Polygon is hitting new highs.
9. Socket Launches Bridge Protection With Risk Harbor
A new era for bridging has been promised with the release of Socket’s Bridging Protection. The product aims to eliminate bridge risks for protocols and users. The insurance policy provides guaranteed funds even in the event of a bridge hack. There are no hidden losses, with users assured to receive the full amount they were quoted.
📊Bridge Stats
Key data insights from the bridging ecosystem in the past week👇
Total Bridge Volume (7 Days) 👉 ~$813M
Top Bridges with the most Volume (7 Days) 👉 Arbitrum ~$221M
Top Protocols with the most TVL (7 Days) 👉 MakerDAO ~6.27B
Bridge Inflows by Chain
-by DeFiLlama’s Bridge Dashboard
📜Interesting Reads
Synapse Network: How to Achieve Community Growth During the Bear Market
Your Creativity Won’t Save Your Job From AI
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