Saber Launches First Avalanche DAI Pool on Solana with Allbridge

Saber is excited to launch an Avalanche DAI pool on Solana in partnership with Allbridge! The first Avalanche DAI / USDC pool on Solana is live now, with SBR rewards going live in the next 24 hours.

DAI is the largest decentralized USD stablecoin, with over $6 Billion in circulation. DAI is collateralized fully by a mix of other cryptocurrencies that are deposited into smart contract vaults through MakerDAO. Learn more about DAI’s mechanism and collateral ratio in MakerDAO’s docs.

Allbridge provides the bridging solution that makes this pool possible, enabling trustless cross-chain exchange between networks like Avalanche, Solana, Ethereum, and Celo. Saber is excited to enable $7.5 Billion in DeFi TVL on Avalanche to interact directly with Solana applications.

With this pool, users can bridge their DAI to Solana and provide liquidity or exchange for any other Solana stablecoin via Saber’s router. Saber is excited to continue supporting cross-chain decentralized stablecoins.

About Saber Labs

Saber is the leading cross-chain AMM for pegged assets on Solana, such as stablecoins and wrapped assets. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.

About Allbridge

Allbridge is a decentralized, modular, and expanding token bridge with on-chain consensus. It’s a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.

📰 INFO 

https://blog.saber.so/saber-launches-first-avalanche-dai-pool-on-solana-with-allbridge-543f39b941e4