Crypto Market

Solana-based cross-chain bridge Allbridge raises $2M to help development

Written by James Smith

Allbridge, a cross-chain bridge that lets customers switch property between totally different blockchain networks, in the present day introduced $2 million in funding led by Race Capital. Allbridge presents a easy solution to bridge tokenized property between Ethereum Digital Machine (EVM) and non-EVM suitable blockchains.

Within the seven months since launch, Allbridge has bridged over $4.8B in property, making it the biggest cross-chain asset bridge supporting Solana, Fantom, Avalanche, Celo, Polygon, Ethereum, BSC, Terra, and extra.

Based by Andriy Velykyy and Yuriy Savchenko, who’ve labored collectively since 2016 on many various crypto funds integrations and non-custodial multi-chain crypto wallets, Allbridge goals to attach all types of layer-1 and layer-2 networks to carry extra interoperability to DeFi.

Not solely does Allbridge allow customers to work together with and switch property between EVM-based blockchains like Ethereum, Polygon, and BSC, it additionally bridges non-EVM suitable blockchains like Solana and Terra.

“We need to be the go-to platform that bridges each in style blockchain and digital asset in the marketplace, enabling billions of token transfers each day. We’re additionally engaged on APIs that may allow builders to construct dApps on prime of Allbridge. Cross-chain swaps constructed on Allbridge are the simplest solution to change any asset between any networks, enabling new performance like cross-chain lending the place customers can leverage collateral on one chain as a way to obtain an asset on one other chain.”
– Andriy Velykyy, Co-Founder of Allbridge

Allbridge permits customers to pick out the community they need to present the liquidity to with simply a few clicks–at any time when and wherever they need.

Source link

About the author

James Smith

Leave a Comment