Bitcoin News and Finance
Terra’s Cross-Chain Bridge Now Supports Solana, Avalanche, Fantom, Moonbeam, Osmosis Skip to main content

Terra’s Cross-Chain Bridge Now Supports Solana, Avalanche, Fantom, Moonbeam, Osmosis

Terra's Cross-Chain Bridge Now Supports Solana, Avalanche, Fantom, Moonbeam, Osmosis

Terra Bridge, the cross-chain bridge protocol now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche according to Terraform Labs CEO Do Kwon. “Easiest way to move funds in crypto,” the Terraform Labs CEO explained in a tweet.

Terra Bridge Adds 5 New Chains

  • On April 12, 2022, Terraform Labs co-founder Do Kwon told his 352,800 Twitter followers that Terra Bridge, otherwise known as bridge.terra.money, now supports five new blockchain networks.
  • Cross-chain bridge technology has come a long way over the last 12 months and in mid-September 2021, there was over $7 billion total value locked (TVL) across several bridges to Ethereum. Today, cross-chain bridges to ethereum hold $19.51 billion in value across over a dozen blockchain networks.
  • “Bridge.terra.money now supports Avalanche, Solana, Osmosis, Fantom, and Moonbeam Network. The easiest way to move funds in crypto,” Do Kwon said on Tuesday. The Terraform Labs co-founder also shared a screenshot of the protocol in action.
  • In addition to the newly added Solana, Fantom, Moonbeam, Osmosis, and Avalanche networks, bridge.terra.money also supports Ethereum, Binance Smart Chain (BSC), Harmony, Secret, Injective, Cosmos, and Polygon.
  • The Terra (LUNA) network has been a prominent fixture in decentralized finance (defi) in recent times as the network is the second-largest blockchain in terms of defi TVL, according to defillama.com stats. The value locked in Terra today is $26.14 billion or 12.52% of the $208 billion locked in defi on April 12.
  • Anchor is the largest defi protocol on Terra with $14.38 billion locked and Lido is the second-largest defi protocol with $7 billion locked. Terra (LUNA) is also the fifth-largest smart contract platform coin by market capitalization with $29.8 billion today.
  • Anchor recently added support for the Avalanche (AVAX) blockchain and the Luna Foundation Guard (LFG) recently explained it planned to purchase $100 million in AVAX, in addition to the non-profit’s bitcoin (BTC) reserves.

What do you think about Terra Bridge adding five support for five new blockchains? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory