Ontology and Waves announced the creation of cross-chain infrastructure for the field of decentralized finance. The collaboration aims to advance blockchain applications (DApps) in the DeFi sector.
Ontology’s blockchain will serve as one of the key chains in Waves’ Gravity Hub protocol, launched at the end of last year.
Under the partnership, a number of capabilities are expected to emerge:
- ONT and ONG tokens will become compatible with the Waves protocol, allowing them to be listed on decentralized exchanges built on the Waves blockchain.
- The WAVES token will be available for use and staking on the Ontology blockchain.
- All tokens created on the Waves and Ontology networks will be fully compatible.
- Data providers in Gravity will be able to deposit in ONT and pay transaction fees in the protocol.
- External developers will be able to create cross-chain DApps.
According to the statement, the announced solutions are only a small part of the innovations and features jointly planned by the companies.
In July, Microsoft and Waves signed a memorandum of cooperation to develop blockchain solutions and cloud technologies in Russia’s corporate sector.
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