DeBridge cross-chain protocol team announces mainnet launch

The deBridge cross-chain interoperability and liquidity-transfer project announced its mainnet launch. Its infrastructure is available on the Ethereum, BNB Chain (formerly Binance Smart Chain), Huobi Eco Chain, Arbitrum and Polygon networks, ForkLog representatives said.

DeBridge provides users and other protocols with the ability to send assets and arbitrary data between different blockchains. This enables a range of cross-network interaction scenarios, including token transfers, cross-chain governance, and oracle data exchanges.

The deBridge team believes the protocol addresses liquidity and technology fragmentation. According to the project’s website, it is a unified standard in which “interoperable transfers and swaps between any blockchains can be executed from a single interface.”

“With the launch of the protocol in mainnet networks, deBridge officially enters a new era of multi-chain interoperability, unlocking opportunities for rapid technology development in the realms of DeFi, NFT and DAOs built atop multiple blockchains and layer-2 solutions,” said co-founder and CEO Alexey Smirnov.

The deBridge team also announced partnerships with DEX aggregators ParaSwap and 1inch. Together they will work on building the infrastructure for efficient cross-chain asset exchanges. Cross-chain swaps will be among the first applications built on the deBridge platform.

The project has undergone security audits by Halborn, Zokyo and Ackee Blockchain, and also launched a bug-bounty program on Immunefi.

In September 2021, deBridge raised $5.5 million as part of a seed funding round, with ParaFi, Animoca Brands, Huobi Ventures, Crypto.com and other investors participating.

Earlier, Vitalik Buterin stated that he supports the concept of a multi-chain ecosystem, but is pessimistic about cross-chain bridges. Specifically for ForkLog, Alexey Smirnov examined the Ethereum founder’s theses and explained why 51% attacks are not a death sentence for such protocols.

Earlier in February 2022, cross-chain protocol Axelar raised $35 million at a valuation of $1 billion.

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, prices and analysis.