Hyphen now allows secure, capital-efficient cross-chain transfers for BNB users to the likes of Ethereum, Polygon, and Avalanche.
Frictionless Bridging for BNB Users
BNB Chain has launched on Biconomy’s cross-chain bridge Hyphen, allowing users to move the capital to and from the likes of Ethereum.
Confirmation of the development came through an exclusive press release shared with BSC News on May 5 and will see users able to access more Decentralized Applications (dApps) frictionlessly. Cross-chain movement remains an important focus in the space, and with the isolated nature of chains at present, users still endure difficulty navigating the entire space.
“It is clear the future of web3 is multichain and will be necessary to onboard the next billion users. For this to become a reality Layer 1s, side chains and other scaling solutions need to be integrated. This removes friction for the end-user and makes interacting with crypto a more seamless experience. Hyphen provides this fast, seamless bridge that provides the infrastructure needed to ensure a collaborative and connected web3,” says Ahmed Al-Balaghi, co-founder of Biconony.
Hyphen describes itself as the missing cross-chain superhighway network that is working to unify and create a seamless multi-chain world. It looks to combat the issue of low composability and weaker network effects experienced on native bridges. By enabling transfers across chains quickly and in a cost-effective manner, the project is making life easier for users
With BNB Chain now available on Hyphen, this further indicates the tilt toward a multi-chain future. The most used chain in crypto joins the likes of Polygon, Ethereum, and Avalanche that have successfully been added to Hyphen.
The team has reiterated that transfers are not the only benefit this integration will provide. Liquidity providers will be able to earn fees and BICO rewards for adding liquidity to these BNB pools: BNB – BICO, BNB – ETH, BNB – USDC, and BNB – USDT.
BSC News will follow the impact that BNB Chain will have on Hyphen, as volume will likely be affected.
What is Biconomy:
Biconomy provides plug-n-play APIs to make Web3 user-friendly & frictionless. We are on a mission to make the decentralized web accessible to everyone. We are the missing piece to crypto adoption for onboarding the next billion. Our APIs & SDKs transform any DAapp to become usable for anyone regardless of their crypto knowledge and experience. Our multi-chain relayer infrastructure processes almost 50K daily transactions for 40+ DApps to ensure all the benefits of Web3 come with the intuitiveness of Web2.
Where to find Biconomy:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
