Aptos Mainnet is Here | LI.FI Supports Velas | Umee Cross-Chain Lending | Connext's 1st Community Call | The OP Stack & More!

Last Week In The Multi-Chain Ecosystem (17-23 Oct 2022)

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Oct 24, 2022

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Bridge Updates

1) LI.FI Now Supports Velas Blockchain 🦎

LI.FI has announced support for Velas, an EVM-compatible blockchain with a Solana origin story. This integration is made possible via Multichain and enables Velas users/dApps to interact with all (15) other LI.FI-supported chains.

2) LayerZero Launches Aptos Bridge 💸

LayerZero has launched the Aptos Bridge, enabling bridging between Aptos and L0-supported chains like Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB. Users can now bridge USDC, USDT, and ETH to/from Aptos.

3) Connext Hosts 1st Community Call 👥

Connext hosted its 1st community call to talk about the Amarok upgrade and the future of Connext. Over 1k+ community members joined the call. Check out the summary here.

4) Cetus Partners with LayerZero 🤝🏻

Cetus announces strategic partnership with LayerZero. Cetus users can now access a wider range of on-chain asset categories. Moreover, users and dApps from different ecosystems can now easily utilize the liquidity in Cetus pools powered by LayerZero.

5) Axelar Powers Interop Summit 2023 🎊

Axelar is organizing the Interop Summit 2023, “a 2.5-day event that will bring together the best minds from every ecosystem for workshops, panels, and celebrations from February 20-22.”

Multi-Chain Ecosystem Updates

1) Aptos Mainnet is Here 🔥

Aptos, dubbed the ‘Solana-killer’, recently launched its Mainnet. The launch is the culmination of four years of technical development led by founders Mo Shaikh and Avery Chin. Aptos is currently valued at $1B.

2) Umee Introduces Cross-chain Lending 💪🏻

Umee, a Cosmos-based L1, recently completed its Mainnet upgrade and enabled native lending & borrowing, compatible with all IBC-supported chains. Users can now access all Cosmos and Ethereum-based assets on Umee.

3) Avalanche Banff is Now Live 🚀

Banff, the latest version of AvalancheGo, is now live on Avalanche Mainnet. Banff enables Subnet creators to activate Proof-of-Stake validation and uptime-based rewards using their own token on their own Subnet.

4) Optimism Launches the OP Stack 🔴

Optimism has announced the OP Stack, a modular, open-source blueprint for all kinds of highly scalable, highly interoperable blockchains. With the OP Stack, Optimism envisions a future where other chains (called op-chains) are built on top of it, resulting in a composable network of chains that feel like a single logical chain to end-users: the Superchain.

5) Avalanche Launches Core App 🔺

Avalanche has launched Core, a portfolio management application that enables users to seamlessly add tokens, swap, send, receive, and plug into dApps across Avalanche, Ethereum, and Bitcoin ecosystems.

What’s Popping on Twitter?

In crypto, communities are everything. You've struck the crypto jackpot if your project has a strong community that supports its growth.

The bridging ecosystem is dynamic — many teams are fighting for the same users and community members. Moreover, since most of these projects are new, there’s always the airdrop rumor which attracts transient users looking to farm the airdrop. Thus, especially in the bridging ecosystem, if you have a strong community, you’ve assembled a solid base to build on.

Why are we talking about communities and bridge projects? Because, this week, Connext held its first-ever community call, and 1300 members joined!

Connext | The 🏠 of ✖chain @ConnextNetwork

🚨COMMUNITY CALL ALERT🚨 Get ready for our First Community Call happening here on Twitter, where we will be presenting & talking about the upcoming Amarok upgrade & the future of Connext, on Tuesday 18th of October at 4 PM CET: https://t.co/QH2DxyXv9m

Connext is a project that has been building in the interop space since 2017. They have an experienced team, including members of the first L2 R&D team. Over their journey, they’ve faced several ups and downs, just like any other project. Most importantly, they’ve successfully built a strong community — they have some of the most active and passionate community members in the ecosystem who have stuck with the project through the bear market.

Last week, LI.FI proposed a framework for users in crypto — Locals vs. Tourists: A Framework.

“There are two types of users:

Tourists: These are seasonal visitors. They’re here for a good time, not a long time. When the excitement fades, they leave.
Locals: These are the residents of a certain vertical (dApp, protocol, blockchain, idea). They believe in the ethos of DeFi and are in it for the long haul – they plan to stay regardless of conditions.”

Extending this framework to Connext, we could say their community has several locals who plan to stay with the project regardless of the conditions, as they believe in the team’s vision.

This is what every project should aspire to do: attract locals. Therefore, specially in the bridging ecosystem, if you have built a strong community without a token, then you’ve most likely assembled a solid base to build on.