Celer Network is excited to announce the successful implementation of bridging supports for REI Network. Users can now bridge WBTC, USDT, USDC, WETH and DAI between Ethereum and REI Network in a fast, secure and low-cost fashion.
Celer-bridged token addresses on REI:
REI Network is a lightweight EVM compatible blockchain framework featuring 3000+ transactions per second and no transaction fees. When envisioning the ecosystem landscape, interoperability has been one of the key things REI takes into account. With a deep understanding of the current vendor lock-in risks induced by third-party canonical token bridging practices, REI has joined Celer in an effort to promote a more secure and flexible Open Canonical Token Standard for their ecosystem. The standard enables protocols 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.
Following the Open Canonical Token Standard, Celer’s bridging support for REI has started with WBTC, USDT, USDC, WETH and DAI, and will extend to other tokens going forward, outlining a more secure and flexible approach to facilitate interoperability between REI and the broader blockchain space.
Celer will keep working with other core interoperability contributors to promote the standard as a default deployment model. Massive efforts are seen from different chains and protocols like REI Network in raising the awareness to phase out bridging practices that come with innate vendor lock-in implications, and this will mean a future blockchain space with not just workable interoperability, but more decentralized, secure and upgradable cross-chain potentials.
About REI Network
REI Network (GXChain2.0) is an EVM-compatible public blockchain. As an Ethereum para chain, it owns the features of lightweight, free and dev-friendly. REI Network is to effectively solve the current high cost and low-efficiency problems of public chains. Therefore, REI Network can achieve free, low-cost development, and rapid migration of applications, and can be shared and symbiotic with the EVM ecosystem, also supporting the development of DeFi, GameFi, and NFT.
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About Celer Network
Celer is a multi-chain operating system that allows the various application logic, liquidity and states, normally segregated across different chains, to communicate with one another and enables seamless inter-chain composability for dApp developers and projects. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK with efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX from a single chain.
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