The Cross-Chain Roundup #32

Week Roundup (June 26 – July 02, 2023)

Jul 03, 2023

Welcome to our July newsletter! We are thrilled to bring you the most exciting developments from the blockchain and cross-chain world. In this edition, we have news of groundbreaking integrations, seamless interoperability between blockchains, and proposals for advanced protocols that enhance decentralization and cross-chain communication. From Synapse Protocol's slippage-free USDC bridge to PancakeSwap's revolutionizing move to Polygon zkEVM, these updates are shaping the future of decentralized finance. So, grab a cup of coffee and join us as we explore the latest happenings in the blockchain industry.

Let's get started!

📰 Cross-Chain Updates

Synapse Protocol Enables Slippage-Free USDC Bridge Across Avalanche, Arbitrum, and Ethereum: Synapse Protocol has integrated Circle's Cross-Chain Transfer Protocol (CCTP), enabling seamless bridging of USDC between Avalanche, Arbitrum, and Ethereum networks. This collaboration allows users to bridge USDC without experiencing any slippage and also enjoy gas airdrops on the destination chain.
Celer Expands Bridging Support for Aura and Sui Networks: Celer Network has announced the expansion of bridging support for Aura Network, facilitating quick and secure bridging of $AURA and $USDC between Aura and BNBCHAIN. Additionally, Celer now offers bridging support for the Sui Network, enabling swift, secure, and low-cost bridging of popular assets such as ETH, WBTC, USDC, USDT, and DAI to Sui. Moreover, Celer's cBridge extends its support for the Circle Cross-Chain Transfer Protocol (CCTP) to include Arbitrum One mainnet, facilitating native $USDC bridging across Arbitrum One, Ethereum, and Avalanche.
deBridge Launches Seamless Interoperability Between Solana and EVM Blockchains: deBridge, the cross-chain solutions platform, has successfully launched its interoperability feature between Solana and EVM blockchains. This groundbreaking update allows developers to effortlessly transfer liquidity and value across both ecosystems, opening the doors to innovative DeFi applications and creating new opportunities for users.
Polygon Labs Proposes the Architecture for Polygon 2.0: Polygon Labs has unveiled the proposal for Polygon 2.0, an advanced protocol featuring multiple layers to enhance decentralization and cross-chain messaging. With efficient proof generation, secure communication, and easy integration, Polygon aims to create a unified and seamless blockchain network. Community feedback is encouraged to refine the upcoming individual protocol layers.
PancakeSwap Launches on Polygon zkEVM, Revolutionizing DeFi: PancakeSwap v3 has officially launched on the Polygon zkEVM Mainnet Beta, offering seamless token swapping and liquidity provision functionalities. By leveraging Ethereum Layer Two (L2) scaling solution, PancakeSwap brings lower trading fees, enhanced fee returns for liquidity providers, and improved capital efficiency. This move marks a significant advancement in the Multichain DeFi landscape and fosters further adoption of decentralized finance.
ERC4337 Smart Accounts Embrace Polygon, Biconomy Dominates Market Share: In an exciting development, the majority of ERC4337 smart accounts, specifically 97.8%, have embraced PolygonLabs. Additionally, Biconomy has solidified its position, commanding a 92% market share of smart accounts and 76% of UserOps. The integration of Account Abstraction (AA) promises a superior user experience, with leading dApps such as Capx, Obvious, Farcana, Vybe, Xade Finance, and DexWin Sportsbook leading the way.
Duality Labs and Axelar Core Join Forces for Seamless Cross-Chain Communication in DeFi: Duality Labs has formed a transformative partnership with Axelar Core, aiming to revolutionize cross-chain interoperability and composability in the DeFi space. Leveraging Axelar's Generalized Message Passing technology, users will soon be able to initiate arbitrary Duality transactions remotely from other connected chains, unlocking new possibilities for cross-chain DeFi applications and integrations.
xLaunchpad Embraces Liquid Staking Protocols for Fair and Efficient Snapshotting Process: xLaunchpad has made a significant enhancement to its snapshotting process by integrating Liquid Staking Tokens (LSTs). The inclusion of Salsa and VestaX protocols, which meet strict criteria of open-source code and published audit reports, allows token holders of LEGLD and vEGLD to participate in the Hatom launchpad based on their holdings.
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📊Bridge Stats
Key data insights from the bridging ecosystem in the past week👇
1. Bridge Volume