DeBridge launches cross-chain protocol on Solana

The deBridge team announced the deployment of an EVM-compatible cross-chain protocol on the Solana blockchain.

1/ After 1+ year of development, deBridge is live on @solana, bringing seamless interoperability and liquidity transfers between Solana and EVM blockchains.

The opportunity with Solana changes today? pic.twitter.com/wR6M8eN1XI

— deBridge (@deBridgeFinance) June 29, 2023

The service enables seamless movement of assets between the Ethereum and Solana networks.

“Users and projects needing to move liquidity into Solana have always faced limitations due to a lack of liquidity in Wormhole inter-chain pools and high slippage when exchanging wrapped assets, which has forced developers to deal with illiquid cryptocurrencies,” — заявил head of deBridge Alex Smirnov.

deBridge uses the DLN Trade system, which relies on a decentralized order book, enabling direct exchanges of cryptocurrencies across different blockchains. In addition, to preserve the value of coins, the project uses the x-chain utility.

“Excluding liquidity pools from the equation, our asynchronous approach enables exchanging via x-chain without slippage or transfer restrictions,” the protocol team explained.

In April, the developers launched a cross-chain bridge between Polygon and zkEVM based on zero-knowledge proofs.

Earlier, OpenOcean announced an integration with the multichain liquidity protocol Symbiosis Finance.