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BNB Chain Introduces Its Cross-Chain Bridge in Collaboration with Celer, deBridge, and Stargate
BNB Chain has revealed that the BNB Chain Bridge is now operational, allowing it to connect with various other blockchains.
As stated in the press release distributed to Cryptonews, the new bridge has been introduced in partnership with cross-chain technology providers Celer, deBridge, and Stargate.
Specifically, it has incorporated Celer’s channel-based cross-chain network, deBridge’s interoperability framework, and Stargate’s cross-chain liquidity solution.
The aim of the BNB Chain Bridge is to link Binance’s blockchain platform with others, while also improving cross-chain interoperability, liquidity, and user experience (UX).
These integrations will facilitate this objective, thereby broadening the scope and capabilities of BNB Chain, according to the team.
Moreover, they will enhance the capital efficiency of assets based on BNB Chain. They will also support the creation of a wider array of decentralized finance (DeFi) products and services.
Additionally, the team anticipates that this initiative will draw more projects to BNB Chain.
In summary, the announcement stated that the collaboration aligns with BNB Chain’s “vision of supporting developers and startups to cross the chasm and mission to drive global Web3 adoption.”
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Liquidity Pool to Grow Stablecoin Ecosystem
The new wallet is not the only update from BNB Chain today.
The team has also indicated that it is setting up a liquidity pool. This initiative aims to facilitate transfers from other chains to the BNB Chain.
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According to the team, this step is “part of a broader drive to grow a fast-growing stablecoin ecosystem on BNB Chain.”
BNB Chain Bridge will offer “ample liquidity” and “an enhanced user experience” by allowing rapid asset bridging and competitive rates.
The announcement further highlighted that blockchain technology continues to progress. Consequently, there is a rising demand for “efficient, convenient, and cost-effective cross-chain interoperability services.”
This is the objective that the new bridge seeks to fulfill, as per the team.
Celer Network co-founder Mo Dong expressed that BNB Chain Bridge will provide “expanded cross-chain interoperability and improved UX.”
Alex Smirnov, co-founder of deBridge, noted that BNB Chain will become “part of a single unified DeFi market through real-time cross-chain transfers, guaranteed rates, and institutional liquidity.”
Meanwhile, BNB Chain is marking its anniversary.
Don’t forget your chance to win a share of $4,000 USDT by @four_meme_ & @flapdotsh!
Check the details below and enter before Sept 2https://t.co/VAmczaAWaA
— BNB Chain (@BNBCHAIN) August 28, 2024
It is a community-driven blockchain ecosystem consisting of the governance chain known as BNB Smart Chain (BSC), a scalability layer-2 opBNB, and BNB Greenfield for decentralized storage and data marketplaces.
Angus Lamps, Foundation Lead at Stargate Foundation, remarked that BNB Chain “has consistently been one of the most popular ecosystems on the bridge.”
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The post BNB Chain Launches Its Cross-Chain Bridge with Celer, deBridge, and Stargate appeared first on Cryptonews.
