Harmony Network Bridging Partnership With RelayChain
The Harmony Network and RelayChain have entered into a bridging partnership that will allow token transfers between Harmony and other popular blockchains, including; Ethereum, Avalanche, Polygon, BSC, Moonriver, Shiden, HECO, IoTeX, and Fantom. In addition to being able to send tokens from these networks into Harmony, you will also be able to bridge the ONE tokens to the other networks.
Harmony has gained major traction in the last few months since the announcement of its massive $300 million incentives program. The incentives are intended to attract developers and creators to build on the protocol. The network recently reached a peak of $380 million in TVL.
Harmony is an open and high-throughput blockchain. The mainnet runs Ethereum applications with 2-second transaction finality and 1000 times lower fees. Harmony was the first blockchain to combine PoS (Proof of Stake) and sharing. Unlike other PoS blockchains that give out higher rewards to large stakers, Harmony uses effective PoS to make sure that the smaller stakers are also rewarded. It is an open platform for assets, collectibles, identity and governance.
RelayChain enables fast, secure and low cost cross-chain token transfers between the worlds leading blockchains. The platform offers Bridging as a Service (BaaS) to partner networks and dApps wishing to expand their footprint beyond a single chain. RelayChain currently supports bridges between any combination of Harmony, Moonriver, IoTeX, Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, Shiden and HECO. Multiple popular networks will be added in the near future. A unique feature of RelayChain is that once a token exists on our platform, it can be bridged to any other EVM in our list of networks. This can be done in one step without needing to return to the parent chain first. This represents a major feature of speed and convenience for all of the users. The RELAY token holds high utility as it will be used to reward stakers with a share of the native gas tokens collected from bridging fees. RelayChain can enable any project’s tokens to be bridged at no cost to the project.
While Harmony has some existing bridge connections, RelayChain will be able to give their TVL a major boost with the wide array of bridging of new bridging options. Traders and yield farmers looking to bridge assets into harmony will be happy to know that Relay bridged tokens will have liquidity, incentives, and auto-compounding with our partners Artemis (MIS), Farmers Only (FOX), ViperSwap (VIPER) and DeFi Kingdoms (JEWEL). LPs and farms will be available tomorrow.
RelayChain will also be bridging MCN incubated projects to the Harmony Network.
About Harmony
Harmony is a sharding protocol with a trustless Ethereum bridge. Harmony developers can use Ethereum tooling such as Solidity and Ethers.js. Users can also seamlessly swap Harmony and Ethereum assets. Harmony is able to achieve 2-second finality for fast transactions and is able to support 1000 delegating stakers for secure shards. Similar to layer 2 protocols, Harmony is now fully interoperable with the Ethereum ecosystem.
About RelayChain
The race to bridge DeFi is over with RelayChain. Almost instantly add cross-chain swaps to any DEX or dApp. Earn bridge fees in ETH, MATIC, DOT, BSC, AVAX, HECO, MOVR, FTM, SDN and more.
