DeFiLlama Bridge Dashboard | BobaBNB Scaling Solution | LI.FI Powers ETHIndia'22 | JPM's First Tx on Polygon & More!

Last Week In The Multi-Chain Ecosystem (31 Oct - 06 Nov 2022)

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Nov 07, 2022

Welcome to LI.FI’s Cross Chain Insider newsletter. If you want to join this community of cross-chain aficionados learning about bridges, interoperability, and the multi-chain ecosystem, subscribe below:

You can also check out LI.FI’s research articles, and follow us on Twitter!

Bridge Updates

1) DeFiLlama Introduces Bridge Dashboard 🌉

To unify bridge metrics and analytics, DeFiLlama has introduced a bridge dashboard focusing on “easily identify inflows, recent large transactions, and which tokens have recently been bridged across chains.” The team plans to rapidly add more chains and bridges to expand the dashboard's scope.

2) Rubic’s Admin Wallet Compromised ⚠️

Rubic’s admin wallet, which managed the RBC/BRBC bridge and staking rewards, was compromised and exploited for around 34M of RBC/BRBC. The team suspects the admin wallet’s private keys were compromised using malicious software.

3) Succinct Labs Demo Proof of Consensus Bridge 🧐

In a blog post, Succinct Labs outlined their vision for SNARK-ed proof of consensus bridges and have now released the first demo showcasing a trust-minim zed bridge between Goerli and Gnosis Chain powered by zkSNARK Ethereum PoS light clients. Check out the demo here.

4) Multichain Now Supports Aptos 🤝🏻

Multichain announced its integration with Aptos Network, enabling the bridging of 5 assets (USDC, USDT, ETH, DAI, WBTC) from 15+ chains supported by Multichain to/from Aptos.

5) LI.FI Announced as ETHIndia’22 Official Partner 🦎

LI.FI, a bridge aggregation protocol with DEX connectivity and cross-chain data messaging capabilities to drive users' multi-chain strategies, has partnered with ETHIndia’22 to power Asia’s biggest Ethereum Hackathon from Dec 2-4. Teams can now build multi-chain products with LI.FI at ETHIndia and win prizes.

Multi-Chain Ecosystem Updates

1) ATOM 2.0 Vote is Now Live 🧐

The vote for approving the Atom 2.0 proposal, which puts forward a new vision for the Cosmos Hub, is now up for a vote. For the vote to count, it needs a 50% quorum. The vote will end on November 14th.

2) Boba Launches BobaBNB 🔥

Boba, a multichain L2 network, announced the launch of BobaBNB, a scaling solution for BNB Chain. With this integration, several DeFi projects, such as Sushiswap, NOVA, etc., will be deployed on BobaBNB over the coming weeks.

3) Avalanche NFTs Live on Shopify 🔺

Avalanche has partnered with Venly, a wallet, and NFT solutions provider, to launch Avalanche NFTs on Shopify. Shopify+ users in the US, UK, EU, and Japan can now purchase Avalanche NFTs like any other good.

4) JP Morgan Executes First DeFi Transaction on Polygon 💜

JP Morgan has executed its first live trade in DeFi using a modified version of AAVE on Polygon. The trade came about as part of The Monetary Authority of Singapore’s (MAS) Project Guardian, a collaborative initiative with the financial services industry to explore the potential and use cases of asset tokenization and DeFi.

5) Google Cloud x Solana 🚀

Google Cloud has partnered with Solana to officially participate in and validate the Solana network by running a block-producing validator. Additionally, Google Cloud is working closely with Solana to launch Blockchain Node Engine on Solana in 2023.

What’s Popping on Twitter?

When it comes to bridging data, there’s no comprehensive resource that provides all the essential bridge information. If you thought liquidity in the crypto ecosystem was fragmented, wait till you explore bridge analytics. To address this pain point, the Llamas have introduced a new product: the Bridge Dashboard!

Cocoahomology @cocoahomology

Today DefiLlama is launching a new product: the Bridge Dashboard! Bridges are an integral part of DeFi and their analytics are fragmented and often use conflicting methodologies. This dashboard is a good first step towards fixing that. Thread on the dashboard and its direction:

In its current state, the Bridge Dashboard covers the following:

8 EVM-chains — Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Fantom, Gnosis, Aurora.
16 Bridges — Multichain, Polygon PoS Bridge, Arbitrum Native Bridge, Stargate, Synapse, Hop, cBridge, Core Bitcoin Bridge, Rainbow Bridge, Portal (by Wormhole), xDai Bridge, Orbit Bridge, Poly Network, ChainPort.

and provides bridge analytics such as:

Bridge Volumes — 24h, 7d, 1mo.
Large Transactions — via x bridge, deposit/withdrawal, token, value.
Total inflows for chains and movement of assets across chains.
Large Transactions Data as on the Bridge Dashboard

This is an excellent initiative by DeFiLlama and a much-needed dashboard for the bridge industry. At first glance, the dashboard showcases how fragmented the volumes are across bridges, highlighting the need for such a tool that enables users and cross-chain aficionados to learn more about which bridges are being used the most to move funds across chains.

At LI.FI, we’re all about providing insights and spreading awareness about bridges. Thus, we’ll utilize DeFiLlama’s bridge dashboard to provide key bridge and chain-related analytics and data points from the past week!