Celer Network is excited to announce the successful implementation of bridging support for Klaytn. Users are now able to bridge USDT, USDC, WETH, DAI, and WBTC via the Open Canonical Token Standard between Ethereum and Klaytn in a fast, secure and low-cost fashion!
Celer-bridged token addresses on Klaytn:
Klaytn is an Ethereum-equivalent L1 open-source public blockchain that connects Web2 enterprises to Web3 with a focus on providing access to all who wish to build, work, or play in the metaverse. Developed by internet giant Kakao Corp in 2019, Klaytn has achieved success domestically through integration with the KakaoTalk messenger app. It is also the blockchain platform for the Central Bank Digital Currency (CBDC) project with the Bank of Korea, by way of private blockchain deployment. Their solution to providing the benefits of decentralization without sacrificing scalability or performance is their Governance Council (GC)—an alliance of leading DAOs and multinational organizations that operate their consensus node network and drive ecosystem growth. As the metaverse matures and DAOs rise to prominence, Klaytn will onboard more DAOs to their GC to create a DAO of DAOs that will lead Klaytn’s governance. Their end-to-end ecosystem is setting the stage for a vibrant, interconnected metaverse and we are excited to be supporting them!
By following the Open Canonical Token Standard, Celer’s bridging support for Klaytn has initially begun with USDT, USDC, WETH, DAI, and WBTC, and will extend to other tokens going forward, outlining a more secure and flexible approach to facilitate interoperability between Klaytn and the broader blockchain space.
Celer will keep working with other core interoperability contributors to promote the open standard as a default deployment model. Massive efforts have been seen from different chains and protocols like Klaytn in raising the awareness of phasing out bridging practices that come with innate vendor lock-in implications. What this will mean is a future blockchain space with not only just workable interoperability, but more decentralized, secure and upgradable cross-chain potential.
About Klaytn Foundation
Klaytn is the bridge that connects Web2 enterprises to Web3. It is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea supported by internet giant, Kakao Corp, and is now undergoing global expansion from its international base in Singapore, led by the Klaytn Foundation, a non-profit organization to accelerate global adoption and ecosystem maturity on Klaytn. Klaytn Foundation manages the Klaytn Growth Fund.
Learn more here: https://www.klaytn.foundation/
About Celer Network
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to 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, all from a single chain.
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