Celer Network has successfully implemented bridging support for Aurora, an EVM scaling network that runs on NEAR Protocol and takes advantage of its many unique features, including sharding and fast finality.
Aurora provides the Ethereum 1.0 development experience, with layer-2-like speed and scalability. Developers may enjoy familiar Ethereum tooling such as Etherscan, Truffle and Infura when working with their Solidity smart contracts on Aurora. The base token of Aurora is ETH and users can access the network with familiar wallets like MetaMask and Imtoken, providing a smooth onboarding experience for dApp users.
Through the partnership, users will be able to bridge USDC, USDT, and WETH in a liquidity-pool-based model directly between Aurora and 11 other chains supported on cBridge. To bootstrap liquidity, Celer will launch liquidity mining programs for these pools when they launch. Going forward, Aurora will join Celer in promoting the Open Canonical Token Standard to its ecosystem. The standard enables protocols and chains to onboard multiple bridging solutions at the same time, as well as managing cross-chain transfer quotas on the different solutions by assigning and adjusting transfer caps according to their preferences on fees, finality speed and the statuses of the bridges. Celer’s cross-chain support on Aurora following the standard will start with tokens including $BUSD, $BNB, $MATIC, $AVAX, $FTM, $CELO, $MOVR from their respective native chains, outlining a more secure and flexible approach to facilitate interoperability between Aurora and the broader blockchain space.
Under the Open Canonical Token Standard, projects and chains are no longer bound to one specific bridge in cross-chain asset transfers, and can quickly adapt to new interoperability advancements. With more protocols applying the standard as a default deployment model in their multi-chain strategies, Celer envisions systematically reduced security risks for the entire blockchain space.
Aurora is an Ethereum Virtual Machine (EVM) built on NEAR Protocol, providing a solution for developers to deploy their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users. Aurora is backed by top VCs such as Pantera Capital, Electric Capital, Dragonfly Capital, Three Arrows Capital, and Alameda Research.
About Celer Network
Celer Network is a layer-2 scaling platform that brings fast, secure and low-cost blockchain applications on Ethereum, Polkadot and other blockchains to mass adoption. Celer launched the world’s first Generalized State Channel Network and continues to push the frontier of Layer-2 scaling with advanced Rollup technology. Core applications and middleware like cBridge, layer2.finance, and more ecosystem applications built on Celer have attracted large audiences in the DeFi, blockchain interoperability, and gaming spaces.
Learn more about Celer: https://www.celer.network
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