Web3 Aggregator Tezsure Launches Bridge Between Ethereum, Tezos
2022.06.01 17:15
Web3 Aggregator Tezsure Launches Bridge Between Ethereum, Tezos
- Tezsure has launched its Plenty bridge to create a link between Ethereum and Tezos.
- Crypto transfers will just take five minutes, according to the Tezsure team.
- Aside from Ethereum, the team is also working on having a bridge for other networks.
Tezsure, the developer behind DeFi platform Plenty, has launched its Plenty bridge, linking Ethereum and Tezos to allow crypto transfers between both networks.
Through the Plenty bridge, Tezsure users can now transfer their stablecoins, particularly USDC, DAI, USDT, and BUSD, between the Tezos and Ethereum networks. Aside from these tokens, wETH, LINK, and MATIC can now also be moved to and fro the said networks.
In addition to bridging the two networks, Tezsure’s Plenty bridge will enable a transfer that will allegedly take just five minutes.
According to the information shared with CoinQuora, Plenty bridge is a decentralized protocol that relies on the Signers Quorum, a group of Tezos community members. Quorum members interact with both Ethereum and Tezos networks and create bridge transactions based on user activity. Their purpose is to assure the stability of the bridge.
Apart from Tezsure, the group is comprised of Integro Labs, Codecrafting Labs, MIDL.dev, Baking Bad, Madfish, and Tezos Ukraine — all of which are reputable members of the network’s community.
With the new protocol, users will receive “bridge rewards.” Notably, bridge tokens are representations of ERC20 tokens on the Tezos blockchain. These tokens can be used on Tezos, and their values are pegged to the original tokens.
Bernd Oostrum and Om Malviya, co-founders of Tezsure, also revealed that they are planning to roll out bridges for other networks, such as Avalanche, Polygon, and Binance Smart Chain, soon.
The Ethereum bridge and the upcoming bridges from chains like Polygon, Avalanche, and BSC are key for the growth of the entire Tezos ecosystem. More bridges enable users from other chains to easily migrate their assets and try out all the innovation happening on Tezos.
Continue reading on CoinQuora
