The launch of dForce Bridge, a cross-chain bridging tool facilitating the instant and low-cost transfer of $USX and $DF across blockchains and layers deployed with dForce protocols.
As they continue to prepare for massive growth in 2022, it’s important to bring the best of all worlds and connect users of multiple chains with the earning potential of dForce.
Initially, dForce partnered with Celer’s cBridge to power cross-chain bridging of $DF and $USX with a liquidity-pool-based model. With cBridge functioning as the underlying infrastructure, $DF and $USX tokens can be exchanged directly with each other on Ethereum, Arbitrum, Optimism, Polygon, BSC, and Avalanche with lower fees and faster transaction speeds. The cross-chain liquidity flow will be mainly powered by the PDLP module (Protocol-Direct-Liquidity-Provision).
Following cBridge, They are now launching a customized bridge (aka dForce Bridge) to further power the multichain expansion. Through dForce Bridge, $USX minted on Ethereum will be locked in a smart contract with the equivalent amount of $USX minted on Arbitrum and Optimism Rollup to maintain 1:1 peg, which will effectively remove the liquidity cap (size of $USX pool and $DF pool) of the pool-base model with more flexibility and enhanced efficiency.
Moving forward, they will look for more collaborations and will introduce dForce customized bridges to facilitate cross-chain bridging of more assets in a decentralized manner, serving as general public infrastructure to power the growth of DeFi.
About Celer Network
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, and more across multiple chains.
Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
dForce is an integrated and interoperable platform of opening finance protocols, covering lending, assets and trading has launched