‘The Bridge to Nowhere’ is a phrase used to describe Government waste and funding for projects with no purpose. And unlike those, blockchain bridge builder Wanchain seems like it’s building a bridge to everywhere.
Let’s see what new chains they are connecting.
Wanchain Going Deep Into DOT Ecosystem
Wanchain is now working with Moonbeam, MoonRiver, and Polkadot. And this makes a lot of sense. Polkadot is a Layer 0 and is all about interoperability. So is Wanchain with its bridges. That makes this an easy partnership. Let’s see why Wanchain is working with these 3 chains specifically.
- Moonbeam is an EVM-compatible smart contract platform. It’s built on a DOT parachain.
- MoonRiver is Kusama’s version of the same thing as Moonbeam. In fact, MoonRiver acts as a testnet for Moonbeam. After passing the test, the code goes over to Moonbeam. They are very closely related as you can see.
- And DOT. The last bridge will connect with Polkadot’s main relay chain. The chain that connects to all the other parachains.
The last important piece about this development is that Wanchain’s bridges will allow all Substrate-based assets on these chains to move between:
- DOT’s relay chain
- or other parachains.
This ease of movement of assets across chains is what both DOT and Wanchain are shooting for now and into the future.
Two Other Big Developments for Wanchain
And that’s not all that’s going on. So just working with Polkadot is a big deal. But the bridge builder has been busy elsewhere too.
As we covered just recently, Wanchain now has a deep collaboration with Cardano. It includes:
- Connecting Wanchain and Cardano (of course)
- Allowing Cardano to connect and bridge to other Layer 1 chains
- Allowing Wanchain to act as an EVM compatible sidechain for Cardano
Like I said. It’s a deep collaboration between the two.
Then, Wanchain is partnering with XinFin too. XinFin is a mix of public and private blockchain with a singular focus on trade and finance. It’s EVM compatible and has smart contracts. Thanks to Wanchains bridges to up to 15 other Layer 1 blockchains, XinFin’s XDC token can now bridge to many of these networks helping grow its value and its use case.
Do You Know Wanchain’s WAN Token?
You may not know it yet but guess what token people pay to use all these Wanchain bridges? It’s their native WAN token. And as popular as these bridges are, somehow WAN is only the #461 project in market value, according to CoinGecko. That value is $77.8 million but it seems like it should be higher for all the value they are providing. Plus you can stake it and earn or earn fees by staking with Storeman node, a key feature of their vaulting and bridging technology.
We think it’s likely undervalued here although all alts have really taken a beating in the last few months. Some will recover faster than others and you need to do your own research.
But we like the fundamentals of what Wanchain offers. They are one of the top bridges in the industry and It seems like partnerships like these just keep on coming. Eventually, everything will be interoperable and cross-chain. And if you think multi-chain is the future, then Wanchain and what they are doing should be on your radar.
Wanchain Price Activity
Per CoinGecko, their market value of $77.8 million translates into a current price of $0.403 or 40.3 cents. It’s traded $6.7 million in the last 24 hours and 193 million of a total 210 million WAN tokens are in the circulating supply.
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