The Cross-Chain Roundup #30
Week Roundup (June 12 – June 18, 2023)
From June 12th to June 18th, 2023, the cross-chain industry experienced notable developments and advancements. Notably, Arbitrum achieved a significant milestone with the launch of its eagerly anticipated mainnet, marking a major step forward for the Ethereum sidechain, which has been meticulously crafted over the past year. In a thrilling collaboration, the RenVM platform forged a strategic partnership with Synthetix, enabling users to effortlessly create synthetic assets on RenVM, meticulously pegged to the value of real-world commodities like gold and silver. Furthermore, the Cosmos Hub introduced the Stargate upgrade, revolutionizing inter-blockchain communication by establishing an ingenious protocol that facilitates seamless connectivity among Cosmos-based blockchains. This week's whirlwind of developments underscores the increasing significance of interoperability in the ever-expanding decentralized finance (DeFi) landscape.
Moving forward, in this edition of The Cross-Chain Roundup, Celer Network has joined forces with Oasis to empower Oasis Sapphire with an advanced message-passing bridge. Additionally, Stargate has partnered with OKX Wallet, allowing users to seamlessly connect to the multichain platform even as Nexo's integration of Avalanche C-Chain Transfers now enables users to earn an impressive annual yield of up to 12% by putting their $AVAX to work. These integrations and partnerships showcase the continuous progress of the cross-chain industry, and we are thrilled to share the details of this week's developments with you. Get ready to delve into the exciting cross-chain universe as we unpack the transformative events that unfolded in this bustling week.
📰 Cross-Chain Updates
SEI has announced the reopening of their highly anticipated "Sei Bridge Test Event," offering participants an exciting opportunity to enhance their cross-chain experiences. To join in, simply visit the SEI Bridge page on Atlantic 2 using the Chrome browser, ensure you have a Sei-compatible wallet such as Compass Wallet or Fin Wallet, prepare your MetaMask or any EVM-compatible wallet, acquire Matic test tokens from Polygon, connect your SEI wallet to the SEI Bridge page, configure your bridging parameters, and seamlessly complete the bridging process by clicking "Bridge to SEI" and signing the transactions.
Celer Network and Oasis have expanded their partnership to enhance interoperability and privacy in the blockchain ecosystem. Celer's cutting-edge Celer Inter-Chain Messaging (Celer IM) Framework will serve as the message-passing bridge for Oasis Sapphire, an EVM-compatible privacy layer powered by the Oasis Network. This collaboration enables a seamless and secure exchange of messages and data between Oasis Sapphire and other blockchain networks, allowing developers to build privacy-centric dApps or add confidentiality to existing dApps on popular EVM networks using Sapphire as a privacy layer.
Celer celebrates the integration of MetaPath with cBridge, unlocking a world of possibilities for users. This integration provides easy access to cBridge's extensive liquidity, enabling swift and secure bridging across platforms like Arbitrum, Avalanche, Binance Smart Chain, Fantom, Optimism, and Polygon, all at remarkably low costs. Get ready to explore seamless cross-chain transactions with MetaPath and cBridge!
Biconomy has announced its partnership with RampNetwork, bringing seamless in-app crypto purchases to users. With a direct connection between crypto and fiat, Web3 protocols can boost revenue through a simple and free integration, while users benefit from streamlined onboarding and eliminating complex transactions. Experience the convenience of buying and selling crypto without leaving your favorite apps or wallets, thanks to Biconomy and RampNetwork!
Uniswap, the leading decentralized exchange in Web3, has approved Axelar to support the next phase of its cross-chain development. Following a rigorous assessment, Uniswap praised Axelar's proof-of-stake mechanism and highlighted its secure protocol and well-designed codebase. With Axelar's decentralized cross-chain platform and robust security practices, the partnership aims to deliver new experiences securely to a global user community.
Inverter Protocol has partnered with Connext to enable cross-chain payment orders and chain-abstracted project funding. By integrating Connext's toolkit and modules, Inverter Protocol expands its modularity and offers new multichain workflows, simplifying blockchain project development. The partnership includes plans for deeper integration, such as cross-chain deposits, smart contract mixin, and the implementation of cross-chain tokens, fostering innovation in the blockchain ecosystem.
OmniBTC's extension of support to the Zksync Era ecosystem calls for celebrations as Celer is thrilled to contribute to this expansion by leveraging cBridge and Celer IM/MessageBus, thereby enabling rapid cross-chain swap functionality through OmniSwap. Prepare for seamless and high-speed cross-chain swaps, courtesy of OmniBTC and Celer's cutting-edge technologies!
MetaMask, the popular non-custodial web3 wallet, has integrated ConnextNetwork, allowing users to bridge assets through their portfolio app and MetaMask browser extension. The decision to partner with Connext was driven by its security, trust-minimized design, and ability to extend to multiple networks. Connext's recent audits, battle testing, high liquidity, and robust handling of failure cases were also key factors in MetaMask's selection of bridge providers.
Stargate has announced that OKX Wallet has introduced integration with Stargate, enabling users to connect effortlessly to the multichain platform. Additionally, the wallet's native DEX now offers cross-chain swaps, enabling one-click routing and seamless swapping and bridging capabilities across different blockchains via Stargate.
Nexo, the renowned crypto lending platform, has announced the availability of transfers through the Avalanche C-Chain. With the new integration, users can put their $AVAX to work and earn an impressive annual yield of up to 12%. The move further expands Nexo's ecosystem and provides an enticing investment avenue for crypto enthusiasts seeking to maximize their returns.
📊Bridge Stats
Key data insights from the bridging ecosystem in the past week👇
Bridge Volume
2. Bridge Inflows
Disclaimer: Data sourced from DefiLlama
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