WAVES token goes live on the Ethereum network

The Waves.tech ecosystem released the native WAVES token on the Ethereum blockchain. ForkLog was told by company representatives.

WAVES holders will be able to use decentralized applications, exchanges, and DeFi protocols on the Ethereum blockchain, while Ethereum users will gain access to Waves’ functionality.

WAVES pools will be available on Uniswap, 1inch and Curve exchanges.

“Ethereum is the leading blockchain by the number of dApp users. Launching the WAVES token in ERC-20 format opens new possibilities for interaction between the two ecosystems,” comments Waves founder Sasha Ivanov.

You can use the Waves–Ethereum bridge on the Waves.Exchange platform. To issue a single WAVES ERC-20 token, you must lock 1 WAVES on the Waves blockchain, the developers note. Reverse conversion of tokens is possible.

Since 2021, the bridge has operated via the Gravity protocol, which connects various blockchains and acts as an oracle between systems.

The Waves team also plans to enable staking of tokens directly from Ethereum wallets.

Earlier in September Waves.Exchange launched a stablecoin-based DeFo ecosystem with support for six coins built on the Neutrino protocol.

In October Waves announced the integration of the Solana blockchain into the Gravity protocol to advance DeFi.

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