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- The bridge aims to facilitate transactions between Ethereum and TON.
- Three prominent blockchain security companies, CertiK, Quantstamp, and Hexens, were involved.
To facilitate the transfer of ERC-20 tokens from Ethereum to natively wrapped fungible tokens (Jettons) on TON, the TON Foundation, a non-profit group of developers and enthusiasts supporting The Open Network (TON), has announced the launch of a two-way bridge.
Additionally, the press release indicates that the bridge will provide a straightforward method for executing transactions between Ethereum and TON. Furthermore, this development marks a “significant milestone” in the evolution of the TON ecosystem.
Additional Bridge Tokens Anticipated
Described as “the first unlimited bridge,” the new service enables users to convert between Wrapped Bitcoin (wBTC), Tether tokens (USDt), USD Coin (USDC), and Dai (DAI).
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Moreover, the initial release will permit users to transact across four distinct assets. The TON Foundation intends to introduce more bridge tokens in the near future. In 2022, the foundation organized a hackathon inviting white hat hackers to assess the security of the unlimited bridge.
Justin Hyun, Head of Incubation at TON Foundation, stated:
“We are pleased with the launch of this two-way bridge, the first unlimited bridge to become operational on TON. We expect that this bridge will attract a variety of new users to the TON ecosystem. By establishing closer connections with other layer one blockchains through such bridges, our users will benefit from the advantages that TON offers over its rivals.”
The announcement further noted that the bridge underwent smart contract audits by three distinguished blockchain security firms: CertiK, Quantstamp, and Hexens. While validators considered the formation, comprehensive audits of the TON blockchain were conducted by CertiK and Quantstamp.
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