Composable Finance Announced That Mosaic Will support Moonbeam

Composable Finance is excited to announce that Mosaic will support Moonbeam as one of its connected networks. This integration will allow users to seamlessly transfer tokens between Moonbeam and Ethereum, Fantom, Avalanche, Arbitrum, Polygon, Moonriver, and upcoming integrations such as Optimism and Starknet. Additionally giving developers the ability to now access Moonbeam through the Composable SDK for cross-layer transfers, swaps, and function calls.

Mosaic is Composable’s cross-layer asset transferral system. Initially introduced in September as a proof of concept (PoC), Mosaic has since grown to help facilitate millions of dollars in daily trade volume. With the launch of Mosaic’s Phase 2, integrated projects can look forward to expanded benefits helping drive more users to their network. This integration will also bring about Mosaic’s first connection to Polkadot.

A partnership bringing liquidity to one of the most promising projects on Polkadot

Integrating Moonbeam with Mosaic’s Phase 2 will open new opportunities to bring in significant liquidity from other ecosystems to Moonbeam. Moreover, the integration will provide Moonbeam users with a low-cost, simple method of bridging assets between its network and outside scaling solutions.

While the significant advantage of this collaboration is the ability to complete asset transfers, Moonbeam will also become integrated within the Composable SDK allowing developers on the platform to access Mosaic and its underlying technology when building cross-chain projects.

Thanks to Mosaic’s infrastructure, developers on other Ethereum virtual machine (EVM) ecosystems will now be one of the first entry points to Moonbeam. Additionally, Moonbeam native projects will now have access to liquidity and functionality from all other layers on Mosaic.

About Mosaic’s Phase 2

Mosaic is Composable’s liquidity layer, serving as a bridge to several EVM-compatible scaling solutions. Phase 2 of Mosaic will bring about the next generation of this infrastructure.

An objective of Mosaic is to ensure adequate liquidity across the increasingly fragmented and siloed DeFi industry. The most prominent aspects of Mosaic are its dynamic fee model (which saw an average 0.32% user fee during our one-month PoC), single-sided liquidity provisioning, and active management.

In the second phase, new arbitrage opportunities will be unlocked. Beyond that, we will introduce turbo-charged bridge capabilities for complex swaps and transfers. These features will help enable large swap transactions on Mosaic. To pile on the advantages, our new asset management strategies will allow bots to facilitate the best transfers assisting our users in earning more passive yield.

About Moonbeam

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. The project believes in the multi-chain future and provides the easiest path to help that future become realized.

About Composable Finance

Composable Finance is a cross-layer and cross-chain interoperability platform for Layer 2 Ethereum and Polkadot/Kusama.

Source:
https://medium.com/composable-finance/mosaic-to-support-moonbeam-enabling-evm-l1-l2-transfers-between-polkadot-58abfd891f6c

DeXe Network In 2022

DeXe Network is an ecosystem of various tools and platforms coming together as the go-to one-stop-shop for DeFi trading. Its keystone is a decentralized social trading platform that operates via…

YDragon and Realm Partnership

Continuing on the YDragon metaverse journey, they have another partnership finalized and ready to announce. This time, it’s with the soon to be launched, multi-chain, play-to-earn game, Realm. Teaming up…

Market Stats:
BTC Dominance: 40.23%(+0.54%/24h)
ETH Dominance: 18.77%(-0.18%/24h)
Defi Market Cap: $129B(+3.75%/24h)
Total Market Cap: $1949.81B(-3.13%/24h)
Total Trading Volume 24h: $81.29B(+7.78%/24h)
ETH Market Cap: $366.63B
Defi to ETH Ratio: 35.18%
Defi Dominance: 6.26%
Altcoin Market Cap: $1165.45B
Altcoin Volume 24h: $58.27B
Total Cryptocurrencies: 16950
Active Cryptocurrencies: 9219
Active Market Pairs: 52750
Active Exchanges: 453
Total Exchanges: 1580
Share via
Copy link