LI.FI x imToken | Multichain Fee Reduction | AAVE's GHO | IBC on OKXChain & More!
Last Week In The Multi-Chain Ecosystem (4th to 10th July 2022)
Bridge Updates
1) Ren Bridge Integrates Optimism 🔴
Ren, a bridging protocol, has added support for Optimism. Users can now bridge BTC, USDC, ETH, and between Optimism and Ren-supported chains.
2) LI.FI Now Supports imToken 🦎LI.FI has integrated imToken, an easy and secure digital wallet trusted by millions of users in more than 150 countries. imToken users can now bridge and swap across 15 chains via transferto.xyz, powered by LI.FI.
3) Connext Listed on Token Terminal 🧐
Connext Network is now live on Token Terminal, a data platform for blockchains and decentralized applications. Users can now access data on Connext, such as Annualized total revenue, transaction volume, Total value locked, etc.
4) cBridge Adds Support for Ontology Network
Celer’s cBridge has added support for Ontology Network. Users can now bridge USDT, USDC, ETH, and WBTC between Ethereum and Ontology Network via cBridge.
5) Biconomy’s OP Token Request 💸
Biconomy has launched a proposal on Optimism, requesting 750,000 OP tokens to reward dApp users and dApp Builders — 500k tokens will be distributed as Ecosystem grants + Gas grants to new projects looking to go gasless on Optimism whereas 250k OP tokens will be distributed for liquidity mining on Hyphen.
6) Multichain Reduces USDC Fee for EVM Chains 👏🏻
Multichain is offering USDC Transaction Fee Adjustment For EVM Chains starting from 1st of July, 2022, to better serve its users. Fees for some routes have been reduced by almost 50%.
7) Nomad Introduces Bridge Direct Links 🎉
Nomad has introduced a new feature called Bridge Direct Links that allows users to bridge in fewer clicks by navigating to the exact link needed for a specific cross-chain transfer.
Multi-Chain Ecosystem Updates
1) Polygon Mobile Integration 📱
Polygon announces its first major mobile integration with HTC — HTC launched a metaverse mobile device, “Desire 22 Pro”, which comes with a digital assets wallet that supports crypto assets and NFTs on Ethereum and Polygon.
2) Permissionless Smart Contract Deployment on Flow 🎉
Permissionless Smart Contract Deployment is live on Flow, a gaming and NFT-focused L1 blockchain. Now anyone can deploy a contract to the Flow mainnet without review.
3) WOOFi Expands to Polygon 👏🏻
WOOFi, a multi-chain DEX, is now live on Polygon. It now allows users to swap assets across EVMs, including BNB Chain, Avalanche, Fantom, and now Polygon. This is made possible by their integration with LayerZero, a cross-chain messaging protocol.
4) Optimism with Celestia for Data Availability 🤔
Celestia Labs has kicked off a proposal on Optimism’s governance forum for using Celestia for data availability on Optimism. The team has proposed to create Celestium Testnet, a testnet chain based on a fork of Optimism.
5) OKXChain to Integrate IBC 🌉
IBC is now live on the OKCChain Testnet and is confirmed to go live on mainnet within 1-2 months.
6) Aave Introduces GHO 👻
Aave Companies has proposed to launch GHO, a native decentralized, collateral-backed stablecoin, pegged to USD. The team plans to use Aave V3’s Portal feature to scale GHO in the heterogeneous multi-chain world by distributing GHO trustlessly across networks. This will be done via simple message passing and not using bridges.
7) Reddit Launches NFT Marketplace on Polygon 💜
Reddit is launching an NFT-based avatar marketplace that allows users to purchase blockchain-based profile pictures for a fixed rate. Users can buy NFTs using their credit or debit cards, and store the NFTs on Reddit’s own wallet product.
8) Aztec Connect is Now Live 🥳
Aztec Connect, a private zk rollup that allows users to access Ethereum dApps while keeping activities private, is now live on mainnet.
What’s Popping on Twitter?
The Cosmos ecosystem is expanding rapidly with big dApps like dYdX migrating to Cosmos and many DeFi, gaming, NFTs, privacy-focused, and metaverse projects building on it. However, what’s been even more impressive lately is the explosion of IBC adoption across the ecosystem to enable seamless connectivity with the Cosmos ecosystem.
IBC is a core piece of Cosmos’ roadmap to achieve its vision of creating the "internet of blockchains". It is considered the holy grail of interoperability, being one of the safest implementations for cross-chain activity. It is currently primarily used by blockchains in the Cosmos ecosystem. However, major ecosystems across the crypto industry have either begun implementing IBC or are exploring the possibilities.
OKXChain — IBC is now live on the OKCChain Testnet and is confirmed to go live on mainnet within 1-2 months.
NEAR Protocol is exploring IBC.
Avalanche — In an interview with Cryptocito, Emin Gün Sirer, the Founder and CEO of Ava Labs, said he has "thought quite a bit about" exploring an IBC integration.
Composable Finance is onboarding substrate-based chains like Polkadot and Kusama parachains to the IBC economy.
There have been rumors about a Polygon integration as well. Additionally, Sifchain has requested a grant to build a bridge between Cosmos and Cardano.
The future of the Cosmos ecosystem looks extremely bright, one with seamless cross-chain transfers powered by IBC.
It will be interesting to see how and when some of these plans for major ecosystems to integrate IBC and enable connectivity with Cosmos, go live in production.
Interesting Reads
1) Honk if you like Hub & Spoke
2) Guide to cross chain bridges
3) Profiling cross-chain messaging protocols
4) Blockchain bridge security guide
5) Blockchain interoperability and cross chain communication
Additionally, here are some Youtube videos/Twitter Spaces you must check out!
1) Axelar Learn AMA Series
2) Arjun Bhuptani - Why Secure Bridging Matters
If you Liked What you Read
Follow us on Twitter for daily updates and announcements 👐🏻
Join us on Discord to hang out with the Lizard family 🙌🏻
Join us on Telegram for your weekly dose of the multichain ecosystem! 🌌
Disclaimer: This newsletter is only meant for informational purposes. While many projects featured in the newsletter are our partners, we encourage you to do your own due diligence before using or buying tokens of any protocol mentioned above.
Get Started with LI.FI Today
To learn more about us,
Head to our link portal at links.li.fi
Read our SDK ‘quick start’ at docs.li.fi
Join the official Discord server
Follow our Telegram Newsletter
or try our any-2-any swaps NOW at transferto.xyz