New HRMP Channels Between Interlay And Astar Network

Published on: 08.10.2022
New HRMP Channels Between Interlay

Allowing Native Movement of the ASTR, INTR, and interBTC Tokens Between Chains.

With the Polkadot ecosystem of parachains and cross-consensus messaging (XCM), not only do we have multi-chain assets, but we can also leverage functional interoperability. At Astar Network, we believe that this is the key to creating the next generation of innovative dApps and further progressing Web3.0. By opening the latest HRMP channel with Interlay we created a new chapter in our mission.

By opening the HRMP channels between Interlay and Astar Network interBTC, the 1:1 Bitcoin-backed asset, will be able to enter the Astar DeFi ecosystem in a trustless and secure way. Users will be able to utilize the BTC-pegged asset without worrying about bridging risks, and developers will be able to build DeFi protocols with the power of interBTC.

HRMP channels between Kintsugi and Shiden canary networks have also been opened. KNT and kBTC are now available on Shiden.

About Interlay

The idea of Interlay is simple: use your Bitcoin on any blockchain. Under the hood, Interlay is a decentralized network for creating cross-chain, asset-backed stablecoins and synthetics. interBTC (iBTC), Interlay’s flagship product, is Bitcoin on any blockchain. A 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant. Interlay is hosted as a Polkadot parachain and will be connected to Cosmos, Ethereum and other major DeFi networks.

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About Astar

Astar Network — The Future of Smart Contracts for Multichain. Supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM).

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