DAI stablecoin to bridge Ethereum Classic and Ethereum blockchains

The developers of Ethereum Classic Labs and ChainSafe Systems announced the launch of a new bridge between the Ethereum Classic and Ethereum blockchains. With the DAI stablecoin, users will be able to exchange assets.

The goal of the partnership is to make the DeFi sector more accessible to the ETC community.

The new instrument uses technology similar to renBTC: assets are locked in smart contracts with the issuance of a corresponding amount of tokens.

The launch of ChainSafe Systems’ managed bridge is planned for November 18.

Moving DAI to the Ethereum Classic blockchain will give users access to the third-most-popular stablecoin after Tether and USDC, used in DeFi applications.

“The bridge that makes DAI easier to use advances our core mission of creating equal access to financial instruments globally,” ETC Labs said in a statement.

Earlier, Ethereum Classic Labs developers decided to strengthen the network’s defenses against future 51% attacks by engaging law enforcement and regulators.

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