Nervos Blockchain Launches First Cross-Chain Bridge with Binance Smart Chain » CryptoNinjas


Nervos, a collection of protocols and public blockchain networks, today announced the launch of a new cross-chain bridge with Binance Smart Chain (BSC), developing its multi-chain strategy as the network seeks to expand its ecosystem.

Starting today, BSC assets can be transferred to the Nervos ecosystem, and developers and projects building on BSC will be able to start porting their decentralized applications (dApps) to Nervos using their existing codebase, allowing them to Expand user reach and adoption.

Additionally, users in the BSC ecosystem will also be able to take advantage of yield farming opportunities offered by YokaiSwap, the first decentralized exchange (DEX) launched on Nervos.

Extending the Nervos Ecosystem with Force Bridge

The completion of the Nervos to BSC bridge marks a milestone as it unlocks new options as BSC’s Total Value Locked (TVL) is the largest of any blockchain other than Ethereum.

Developers and teams building on BSC can port their dApps to Nervos and access projects, tools, and resources available in the emerging network focused on DeFi development.

Additionally, dApps on Nervos, such as YokaiSwap, a next-generation interoperable AMM decentralized exchange (DEX) built on Nervos, will gain liquidity through the BSC ecosystem.

The bridge is made possible by the force bridge, A trustless cross-chain bridge This allows seamless transactions between the Nervos ecosystem and other public chains, as well as Godwoken, the first EVM-compatible layer 2 blockchain on the network.

“Bridges are one of the most fundamental components of a blockchain application. By enabling cross-chain interoperability with BSC, we are unlocking a lot of value that can now be transacted in the Nervos ecosystem.”
– Chris Khan, Senior Product Manager, Nervos

Nervos’ layer 1 blockchain supports future layers and makes it easier to build EVM-compatible cross-chain bridges, such as Nervos-to-BSC bridges from the Nervos network to other chains.

Seamless Token Transfer

This new bridge will enable the seamless transfer of tokens between the Nervos and BSC networks.

When launched, the native tokens and stablecoins of the Binance ecosystem, Binance Coin (BNB) and Binance USD (BUSD), will be supported for asset transfer and cross-chain swaps, and more BEP-20 tokens will be supported in the future.

High-yield farming on YokaiSwap

As part of their expanded dApp access in the Nervos ecosystem, BSC users will also be able to monster swap (The first DEX on the Nervos network) through yield farming.

As an Automated Market Maker (AMM), YokaiSwap enables users to easily and efficiently exchange $CKB and any whitelisted tokens on the Ethereum network, as well as BNB and BUSD.

Starting Saturday, January 15, 2022, the BNB/CKB and BNB/YOK trading pairs will be listed on YokaiSwap with yield farming opportunities.



Source link

You May Also Like

Leave a Reply

Your email address will not be published.