February 17, 2022

deBridge crosschain protocol has launched a mainnet

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deBridge crosschain protocol has launched a mainnet

deBridge crosschain protocol has announced the launch of mainnet, which currently supports Ethereum, BNB Chain, Huobi Eco Chain, Arbitrum and Polygon blockchain networks. 

Any projects and protocols can use deBridge's decentralized infrastructure to implement crosschain operations: token exchange and transfer, management, implementation of farming strategies, NFT transfers, oracle data exchange, etc.

The deBridge protocol was audited by security companies Halborn, Zokyo and Ackee Blockchain. In addition, the project team has launched a community and white-hat rewards programme on the Immunefi platform.

deBridge is ushering in a new era of multichain interoperability that will open up opportunities for explosive technology development in the areas of deFi, NFT and DAO, built on top of multiple blockchains and Layer 2 solutions. deBridge aims to become the standard for crosschain interoperability and liquidity transport between blockchain networks, combining existing innovations with each other and making crypto and deFi ecosystems more balanced, said deBridge co-founder and CEO Alexey Smirnov.

In addition to launching the core network, Bridge announced a partnership with decentralized exchange aggregators ParaSwap and 1Inch. The joint work of the three teams is aimed at creating an infrastructure for efficient crosschain exchange of assets. One of the first solutions to be introduced is the exchange of crypto-assets from different blockchain networks (crosschain swaps). The tool will be based on deBridge infrastructure.

deBridge is a protocol that enables the decentralized movement of assets, data, and commands between different blockchains. The project won first place in the Chainlink hackathon in the spring of 2021, and in September 2021 it received $5.5m in investment in a seed round led by venture capital fund ParaFi Capital with participation from Animoca Brands, Huobi Ventures, Lemniscap, Crypto.com Capital, MGNR, IOSG and bitScale.

deBridge allows any existing protocol or application to scale across any Tier 1 or Tier 2 network and be represented across different ecosystems. This solves the problem of concentrating liquidity in one of the blockchain networks. For example, Solana users will be able to interact with protocols created in the Polygon network directly from their Phantom wallet without having to switch between networks or wallets.

Presently, deBridge does not yet have its own token, but there are plans to issue one in the future.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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