That was me earlier today when I realized something VERY BIG happening with Cardano right now. Before I tell you what that is. Let me show you some really impressive Cardano numbers.
Cardano DeFi has had the highest total value locked (TVL) growth rate over the last 1 year. It is more than 198%. Another big win is that the average daily dapp transaction in the Cardano ecosystem was up 49% in the last quarter. What does all this indicate? It clearly indicates more user adoption. And now all of you using Cardano more often can bridge back and forth between it and other chains with our most reliable bridge solution. Wanchain. Wanchain bridges for Cardano are now OPEN! In this bull run both ADA and WAN can turn unstoppable!
The Big Announcement
As I said at the top, Wanchain has YET another big ecosystem that will come into the fold. We are talking about Cardano. The new Wanchain Cardano Bridges lets you bridge Cardano ecosystem tokens back and forth with any EVM token Wanchain already supports along with Bitcoin, Tron, and other networks.
The big deal for Cardano users is that USDT and USDC will be available to them for the first time.
Given Cardano’s technological differences, you can’t just plug and play like with an EVM network. Cardano uses similar UTXO transactions to Bitcoin and has other different tech too. That means this took some time for Wanchain to do AND that Cardano users have few bridging options. And none are as good as this one.
What Else Has Wanchain Been Up To?
The Multichain hack and its effect on many different chains including Fantom are a scary reminder. It’s a reminder that while necessary for cross-chain transactions, all bridges are not created equal.
We’ve been covering the best, safest, and lowest-cost bridge for quite a while here at Altcoin Buzz. And we are talking about Wanchain. Their bridges are the best and a few of us at Altcoin Buzz swear by them. And in the first 2 quarters of the year, Wanchain has been VERY busy. Busy making interoperability and cross-chain functionality better, safer, and cheaper for everyone.
Let’s see what Wanchain has been up to apart from this massive Cardano bridge update. Many of you may not know this but Wanchain is the original bridge platform in crypto. They’ve been doing decentralized bridging since 2018. And they’ve never been hacked.
So naturally, Wanchain is looking to grow its bridging services and influence. How do you do that? They already offer great bridging services across more than 25 chains so how do you get more people to bridge their tokens? Well, the answer is simpler than you might think. Wanchain is concentrating on the 4 most important coins in crypto. Let’s see what they’ve been up to.
🗣️ #Wanchain has deployed new decentralised, non-custodial bridges connecting the #Cardano mainnet to 11 other networks!
💡 #BTC, #ETH, #USDC and #USDT are all now accessible on Cardano!
📚 More: https://t.co/IwCvL40wm3
🌉 Try the Cardano Bridges: https://t.co/wXcSFHjwT4
— Wanchain (@wanchain_org) August 8, 2023
USDT XFlows
First, we have USDT XFlows. The big deal, like with all the XFlows programs, is that you are bridging but you start with native USDT. And end with native USDT on another chain. No wrapped, synthetic, or uncommon token versions here.
The last big chain addition is Polkadot. So now you can move native USDT from Polkadot to Polygon. Or Arbitrum to BNB Chain. The most recent addition of all L1s and L2s that have native USDT is the Optimism Layer 2. Also during the spring.
USDC XFlows
I recently heard a comparison that USDT is like the Eurodollar (offshore dollar) market while USDC is the domestic dollar market. Within crypto that is. And I think that’s a great way to think of these 2 most important stablecoins.
Yes, they are centralized with an issuer. But there is no denying their importance. Starting in May, Wanchain is working with Circle to bring native USDC to native USDC bridge transactions across all the chains that USDC supports. That covers 2 of crypto’s most important coins. Let’s go to the other two.
Have you tried Wanchain’s fast cheap bridges for native USDT or USDC transfers? Let us know in the comments below.
✍️ Decimal Display Issue ✍️#Cardano wallets and explorers are displaying an extra eight zeros for these assets. The actual assets are unaffected.
A request has already been submitted to the Cardano Token Registry. Thank you for your understanding.
📚 https://t.co/n0J6rmFZNN pic.twitter.com/B3OvLApnT1
— Wanchain (@wanchain_org) August 8, 2023
ETH XFlows
Starting this spring, ETH XFlows are available too. Now you might be thinking, why is this one necessary? I get why between Arbitrum and Polygon it’s great to have native USDT on both sides. But all EVM networks and L2s can bridge to and from Ethereum, right? Well yes, they can. But Wanchain does have something that makes this offering unique and different.
Understandably L2 like Polygon or Arbitrum has a one-way bridge to and from Ethereum. That makes sense because:
- They need to bridge with their Layer 1.
- It earns the bridge more fees just going back and forth between the two.
But Wanchain doesn’t care about that and they know you don’t either. Using conventional bridges, you’d have to go from ARB to ETH and then ETH to Polygon. Why do that with 2 bridges, 2 transactions, and 2 gas fees? Well with Wanchain’s XFlows, you can now go direct.
A bridge between ARB and Polygon? Yes. A bridge between ARB and Optimism? Yes. Any L2 and any EVM without having to convert to ETH first. That’s the edge. And all in one transaction.
BTC XFlows
We can’t talk about the most important coins and not mention Bitcoin. And there’s a Bitcoin XFlows program too. Announced in May, you move between native Bitcoin and BTC.b on Avalanche, BTCB on BNB Chain, wBTC on Ethereum, or Wanchain’s wanBTC. Again, no wrapped coins, native versions only.
This article Wanchain wrote for us on our website is a great breakdown of the limitations of existing Bitcoin bridges. It shows why Wanchain’s bridging solution is the fastest, cheapest, most secure, and best choice of all the ways to bridge your Bitcoin.
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