zkSync Era Mainnet Alpha | Magic Eden on Bitcoin | LI.FI Supports Boba Network & More!

Last Week In The Multi-Chain Ecosystem (20 - 26 March '23)

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Mar 27, 2023

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) Celer Introduces Brevis: A ZK Omnichain Data Attestation Platform 🔥

Celer Network has launched Brevis, a Zero-Knowledge (ZK) omnichain data attestation platform that enables dApps to access, compute, and utilize arbitrary data across multiple blockchains. Brevis unlocks use cases like data-driven DeFi, zkBridges, on-chain user acquisition, zkDIDs, social account abstraction, and more.

2) LI.FI Now Supports Boba Network 🦎

LI.FI now supports bridging and swapping to and from Boba Network, an EVM-equivalent Layer-2 Optimistic Rollup. Boba Network users/dApps can bridge and swap their assets across all (15) LI.FI supported chains using cross-chain swapping interface jumper.exchange.

3) Optimism Mainnet Bridge to Add Two-Step Withdrawals 🔴

OP Labs has announced that the Bedrock upgrade will introduce a new two-step withdrawal process (proving and finalizing) to the Optimism Mainnet bridge. This will improve the bridge’s security and make exploits more difficult.

Read more about how the new withdrawal process will work here.

4) Hyperlane is Expanding to Solana VM 🔀

Hyperlane announced that it is expanding to the Solana VM universe in collaboration with Eclipse, a customizable rollup provider. The aim is to bring Hyperlane’s Permissionless Interoperability solution to Solana Virtual Machine (SVM) based blockchains.

5) Symbiosis Retrodrop Distribution & OpenOcean Integration 🤝

Symbiosis launched the $SIS token, the governance token of its ecosystem, on BNB Chain earlier this month and conducted a retroactive airdrop which has now been distributed. Check your eligibility here.

OpenOcean has added Symbiosis to its cross-chain swap aggregator adding more routes and better rates on Ethereum, BNB Chain, Polygon, and Avalanche.

6) LI.FI to Offer Immutable Smart Contracts & Support for zkEVM Chains 🔜

Philipp Zentner, the CEO & co-founder of LI.FI, announced that LI.FI will introduce an immutable contract very soon, marking a significant update in the project’s security offerings. The team also teased support for zkEVM chains on the platform in the near future.

Multi-Chain Ecosystem Updates

1) $ARB Airdrop Live: Spikes Gas Fees on Arbitrum One 🧡💙

Arbitrum’s $ARB airdrop is now live and can be claimed here (eligible users have six months to claim their tokens).

Here are some of the note-worthy stats from Arbitrum’s ARB airdrop day:

On March 23, 2023, Arbitrum surpassed Ethereum by 2.5 times with 2.73M transactions on the network compared to Ethereum’s 1.08M. On that day, Arbitru, One accounted for 66% of the total activity on all Layer 2s.
Arbitrum One had 611k active addresses on the day of the airdrop (the previous record was held by Optimism with 53k addresses).

2) zkSync Era Mainnet Alpha Launched 🔥

zkSync Era Mainnet Alpha is now live and open to all users. Now developers, projects, and users can build on and bridge funds to experience zkSync Era. You can explore zkSync Era by bridging here.

3) Immutable x Polygon zkEVM 🤝

Immtable X has partnered with Polygon to announce Immutable zkEVM, a new zkEVM chain powered by Polygon that will be dedicated to accelerating the development and adoption of Web3 gaming.

4) Magic Eden is Now on Bitcoin 👏

Magic Eden is live on Bitcoin. Users can now trade 70+ Bitcoin NFT collections on Magic Eden’s Bitcoin marketplace.

5) Zilliqa Turning EVM-Compatible 🧐

Zilliqa announced that it is turning EVM-compatible on April 25th to bring enhanced interoperability and accessibility to the ecosystem.

What’s Popping?

Tanken is Here, LI.FI is Excited

Introducing Tanken. It’s a company built for a multi-chain world, powered by LI.FI!

Tanken automates the process of wallet refills. This is a massive upgrade to the crypto experience. With Tanken, you will never again have to visit a bridge, on-ramp, or CEX for gas, as Tanken allows users and protocols to effortlessly add funds to their wallets in just a few clicks.

The Details

Through a Tanken subscription, users can set certain wallet balance thresholds to trigger a refill once hit. Along with refilling wallets, Tanken offers a variety of notification methods to track address balances, events, and more.

There are two entities that automatic gas refills should lead to major, major user experience upgrades.

Protocols — dApps that use any form of on-chain distribution to users from protocol-owned wallets can automate gas refills to ensure that airdrops, staking rewards, DAO payments, and/or NFT mints.
Multi-chain crypto users — anybody worth their Degen Score in crypto is using multiple chains at this point. One of the biggest pain points for the entire space is getting gas on a new chain or adding gas to a wallet on a chain when you are running low. Tanken can automate this, starting with support on Ethereum, Polygon, and Avalanche.

Let’s dive a little deeper into the second use-case, which most readers here will be able to relate to personally:

Explaining Tanken in English

Simply enough, users can set rules like “if my MATIC wallet balance on Polygon is worth less than $5, please refill my wallet with an additional $5 in MATIC.” Another example would be: “if I am about to get liquidated on Aave, please top up my position with $5,000 in USDC.”

This is quite powerful. Especially in a cross-chain world, where bridging can make refills even more necessary.

An even simpler example:

Imagine. You are on BNB Chain, making a swap on PancakeSwap. You trigger a trade with the last of your gas to swap from CAKE to USDT because you are a trading genius. But then, a few days later, ARB drops and you want exposure.

Your USDT is now stranded on BNB Chain. What do you have to do? You have to buy BNB from a CEX, withdraw to BNB Chain, and then bridge your USDT to Arbitrum.

And then, once on Arbitrum, you have to make sure you have enough ETH to swap the USDT to ARB.

If you don’t have enough ETH on Arbitrum, you have to go buy ETH from a CEX, withdraw to Arbitrum, etc.

You see the issue?

Tanken = problem solved. It is a cross-chain wallet refiller.

Here’s How Tanken Works

Ok, so how does Tanken work?

Refills are simple.

Select the wallet you want refilled. Create a source wallet that will fund the refills. From there, Tanken leverages LI.FI to automatically bridge and refill the destination wallet from the source chain.

From there, you can program your refills by…

currency
on-chain vs off-chain settlement
wallet balance to trigger refill
value of refill
max refill

Join their whitelist now and be one of the first users to test it out!

Conclusion: LI.FI x Tanken is Fantastic

The entire point of LI.FI is abstraction. We are a liquidity router for crypto businesses. LI.FI is one API that connects tokens across 20 blockchains. LI.FI is an out-of-the-box solution for crypto businesses to connect liquidity across any blockchain without interacting with bridges, DEXs, or chains – our contracts do all this automatically in the background. We offer users and developers a super streamlined interface for interacting with cross-chain transactions; be it swapping, purchasing an NFT, or bridging some type of data.

But we can’t do this ourselves. LI.FI is not really meant for users, it’s meant for crypto businesses to come in and build new use-cases on top of.

So far, these use-cases have been limited to existing businesses adding LI.FI into an already-built application.

Wallets can embed LI.FI to power cross-chain swaps (like BlockWallet has done). dApps can integrate LI.FI to implement cross-chain deposits (as Superfluid has done). On-ramps can use LI.FI to expand their token offerings to low-cap tokens on L2s (which Kado recently did).

But that changed today.

Because finally, FINALLY, someone (Tanken) has built something entirely new on top of LI.FI.

And we think it’s pretty cool.

So go join Tanken’s whitelist to try out their application. And come tune in to our Twitter spaces later this week for more information.