Tag: Wormhole

Wormhole Expands Its Bridge To Polygon and Solana

by Cryptobriefing


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Wormhole has integrated Polygon to its multi-chain bridging solution.

Multi-Chain Bridge Adds Polygon

Wormhole, a popular multi-chain bridge protocol, has announced support for a new bridge to Polygon—the top sidechain on Ethereum.

On Tuesday, the Wormhole team revealed that starting today users will be able to transfer assets between Polygon and other Layer 1 blockchains like Solana, Ethereum, Binance Smart Chain (BSC), and Terra Network. Polygon is the first sidechain added to Wormhole.


Wormhole’s cross-chain wrapping protocol allows users to send cryptocurrencies and non-fungible tokens across different chains. The project has $540 million in total value locked in wrapped assets, the team claims.

According to Hendrik Hofstadt, the lead contributor to Wormhole, the project has been executing its “vision of bridging together a more decentralized and resilient network.” Further commenting on Polygon’s integration with Wormhole, Hofstadt said:

“The addition of Polygon brings a diverse set of users and applications to Wormhole, and we’re excited to see how the synergies play out.”

Several interoperability bridges have taken off over the last six months, accompanying the rise of the multi-chain era.



Notably, Wormhole is one of the most widely used solutions for bridging crypto assets to Solana. By supporting a high-value chain like Polygon, it has expanded its capability to connect Solana with a rapidly-growing ecosystem.

The sidechain has over $5.22 billion in total value locked, and hosts some of the top dApps on Ethereum, including Aave, OpenSea, Curve, Balancer, and many more. Since its mainnet launch in May 2020, Polygon has seen over a billion total transactions on its network.

Disclosure: The author owns ETH, MATIC, and SOL.

This news was brought to you by ANKR, our preferred DeFi Partner.


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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Solana Launches an Ethereum Bridge Called Wormhole

Solana, a blockchain aimed at being the first web-scale blockchain, has announced an Ethereum bridge called Wormhole. How Wormhole Works The Wormhole protocol connects its SPL token standard with Ethereum’s…

The Top Bridges for Interoperability With Ethereum

Bridges offer a way to migrate assets between blockchains. Crypto Briefing unpacks some of the top bridges offering interoperability between Ethereum and other chains. Ethereum Bridges Usher in Multi-Chain Era…

O3 Swap: A Cross-Chain DEX Aggregator for Tomorrow’s DeFi

The DeFi space is booming, with total value locked soaring to new all-time highs in May 2021. With more and more liquidity entering the space, the issue of interoperability becomes…

How SocialGood Is Offering 100% Crypto Cashback on Online Shopping

In recent years, the rise of Bitcoin and tokenized assets has made the cashback vertical ripe for disruption. Within the cashback market, blockchain-based loyalty networks are rising in popularity among…



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Wormhole Expands Its Bridge To Polygon and Solana (04:50 EST)

by Cryptobriefing


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Wormhole has integrated Polygon to its multi-chain bridging solution.

Multi-Chain Bridge Adds Polygon

Wormhole, a popular multi-chain bridge protocol, has announced support for a new bridge to Polygon—the top sidechain on Ethereum.

On Tuesday, the Wormhole team revealed that starting today users will be able to transfer assets between Polygon and other Layer 1 blockchains like Solana, Ethereum, Binance Smart Chain (BSC), and Terra Network. Polygon is the first sidechain added to Wormhole.


Wormhole’s cross-chain wrapping protocol allows users to send cryptocurrencies and non-fungible tokens across different chains. The project has $540 million in total value locked in wrapped assets, the team claims.

According to Hendrik Hofstadt, the lead contributor to Wormhole, the project has been executing its “vision of bridging together a more decentralized and resilient network.” Further commenting on Polygon’s integration with Wormhole, Hofstadt said:

“The addition of Polygon brings a diverse set of users and applications to Wormhole, and we’re excited to see how the synergies play out.”

Several interoperability bridges have taken off over the last six months, accompanying the rise of the multi-chain era.



Notably, Wormhole is one of the most widely used solutions for bridging crypto assets to Solana. By supporting a high-value chain like Polygon, it has expanded its capability to connect Solana with a rapidly-growing ecosystem.

The sidechain has over $5.22 billion in total value locked, and hosts some of the top dApps on Ethereum, including Aave, OpenSea, Curve, Balancer, and many more. Since its mainnet launch in May 2020, Polygon has seen over a billion total transactions on its network.

Disclosure: The author owns ETH, MATIC, and SOL.

This news was brought to you by ANKR, our preferred DeFi Partner.


Share this article



The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Solana Launches an Ethereum Bridge Called Wormhole

Solana, a blockchain aimed at being the first web-scale blockchain, has announced an Ethereum bridge called Wormhole. How Wormhole Works The Wormhole protocol connects its SPL token standard with Ethereum’s…

The Top Bridges for Interoperability With Ethereum

Bridges offer a way to migrate assets between blockchains. Crypto Briefing unpacks some of the top bridges offering interoperability between Ethereum and other chains. Ethereum Bridges Usher in Multi-Chain Era…

How SocialGood Is Offering 100% Crypto Cashback on Online Shopping

In recent years, the rise of Bitcoin and tokenized assets has made the cashback vertical ripe for disruption. Within the cashback market, blockchain-based loyalty networks are rising in popularity among…

O3 Swap: A Cross-Chain DEX Aggregator for Tomorrow’s DeFi

The DeFi space is booming, with total value locked soaring to new all-time highs in May 2021. With more and more liquidity entering the space, the issue of interoperability becomes…



Source

Tagged : / / / / / /

Solana announces DeFi hackathon offering $200k in seed funding

by Cointelegraph

Solana has announced an upcoming DeFi hackathon offering $200,000 in seed funding from the Solana Foundation.

The hackathon, which is scheduled to take place from Feb. 15 through March 1st, will be hosted in partnership with Sam Bankman-Fried of FTX’s Project Serum.

Bankman-Fried will also offer mentorship to hackathon participants alongside Solana CEO Anatoly Takovenko. Bankman-Fried stated:

“A lot of an ecosystem’s success depends on how much the community builds on it. I’ve been really happy with the growth of Solana so far building out the world’s fastest, most scalable on-chain ecosystem; I’m excited to see some projects come to market!”

Participants will also compete for a $200,000 prize pool, with the event’s judges including crypto-notables Circle CEO Jeremy Allaire, Aave CEO Stani Kulechov, CoinShares CSO Meltem Demirors, and CoinGecko Co-Founder Bobby Ong.

The announcement encourages developers to explore Solana’s bi-directional Ethereum bridge “Wormhole”, in addition to Solana’s new Chainlink oracle integration.

Speaking to Cointelegraph, Takovenko noted his excitement to see what recurring participants who took part in Solana’s Q4 2020 hackathon will build in the upcoming event. Takovenko emphasized that Solana offers benefits to developers through its support for traditional compiler toolchains like Rust, making it “more accessible for folks outside of crypto.”

On the subject of DeFi adoption, Solana’s founder emphasized the need for the sector to “break out among general consumers:”

“This could be as simple as: I get a Wrapped BTC savings account, but in the background, it’s earning a DeFi yield. And the end-user, a general consumer, isn’t really dealing with smart contracts or the complexity of [DeFi], but they actually get access to all of the entire pipeline.”

Takovenko predicts that such a “BTC savings account” could exist within the near future, stating: “That one use-case would require the entire stack to work […] I don’t know if this is going to happen in 2021, but it feels like everything is ripe for that.” 

“The tools are much better, key management is much better, you can ship applications on iOS and Android with secure keys […] I’m excited to see who actually pulls it off and scales [DeFi] to one million or ten million users.”