Allbridge Core is excited to announce that Wormhole’s messaging protocol is now the default option for all Core swaps and integrates Wormhole as its default messaging system. This significant transition underscores their commitment to providing users with a secure, efficient, and decentralized cross-chain experience. Wormhole, known for being the most decentralized cross-chain messaging protocol, operates with a network of 19 validators, known as Guardians. These Guardians play a crucial role by observing the Core Contract on each supported chain and producing verifiable approvals when those contracts receive messages from the Wormhole Messaging protocol. By adopting Wormhole, Allbridge Core is poised to enhance the overall functionality and security of its platform.

Leveraging Wormhole’s Guardian Network

Building with Wormhole brings numerous advantages, particularly in terms of security and decentralization. The Guardian network ensures that every transaction is verified and secure, minimizing risks and enhancing trust among users. This decentralized set of validators meticulously observes the Core Contract, ensuring that every message sent through the Wormhole Messaging protocol is legitimate and secure. Consequently, Allbridge Core users can now enjoy a more robust and trustworthy cross-chain experience. This integration marks a pivotal step in our journey to deliver top-notch services while adhering to the highest standards of decentralization and security.

Seamless Transition to Wormhole Messaging

The transition to Wormhole messaging as the default option is being implemented smoothly across all mutually supported chains, including Solana, Base, and Arbitrum. This strategic move ensures that as new chains are added to Wormhole, Allbridge Core will promptly deploy and shift to using Wormhole as the default, maintaining a seamless and efficient user experience. By making Wormhole messaging the standard, they are not only enhancing the interoperability of our platform but also future-proofing it against the rapidly evolving blockchain ecosystem. Users can look forward to exploring swaps across eight different chains, all facilitated by the robust Wormhole messaging protocol.

A New Era for Allbridge Core Swaps

This integration signifies a new era for Allbridge Core swaps, characterized by improved security, efficiency, and decentralization. The adoption of Wormhole messaging as its default protocol enables us to provide a more seamless and reliable service to its users, reinforcing their commitment to innovation and excellence. As they continue to expand and integrate new chains, their users can expect consistent improvements and a continually evolving platform that meets their needs. Enter into this new phase with Allbridge Core and experience the benefits of Wormhole messaging across multiple chains, paving the way for a more connected and decentralized blockchain future.

Conclusion

In conclusion, Allbridge Core’s adoption of Wormhole messaging as the default protocol marks a significant milestone in our mission to enhance cross-chain swaps. By leveraging the decentralized and secure Guardian network of Wormhole, they ensure that its users receive the best possible experience. This strategic move not only improves current functionalities but also prepares their platform for future expansions. As they embrace this new era, they invite their users to explore the enhanced capabilities of Allbridge Core swaps across multiple chains, confident in the security and efficiency provided by Wormhole’s innovative messaging protocol.

SOURCE

https://allbridge.medium.com/wormhole-becomes-default-messaging-for-allbridge-core-c4cab6f3c9fc

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This strategic move revolutionizes secure Web3 application communication, unlocking vast potential across diverse sectors including DeFi, NFTs, and governance. The integration represents a tangible stride towards a less abstract and more interconnected, trustless Web3. By incorporating Wormhole’s technology, NEAR Foundation envisions a practical shift where cross-chain transactions become efficient, secure, and user-friendly.

In this integration, Wormhole’s role is vital, employing its advanced technology to connect the NEAR ecosystem with over 20 other high-value blockchain networks.

The integration enables synergy of Wormhole Connect’s technology with NEAR’s Blockchain Operating System (BOS) to enhance developer access to multiple chains and diverse liquidity. It will also serve to break down barriers for casual users, blending complex blockchain tech with a user-friendly experience.

Born from this integration is the trustless NEAR <> ETH corridor, an innovation powered by Wormhole and secured by Zero-Knowledge (ZK) Proofs.

The NEAR <> ETH corridor represents a new class of zk-enabled bridges, offering heightened interconnectedness between the NEAR ecosystem and a multitude of Wormhole-facilitated applications. This trustless corridor is poised to catalyze more efficient and secure transactions, symbolizing a substantial stride toward a fully interoperable Web3 ecosystem.

Also, as part of the integration work, developers are building the first ZK light clients, which will play a crucial role in supporting the trustless NEAR <> ETH corridor.

About NEAR

NEAR is a carbon-neutral layer-1 blockchain network that is scalable and secure thanks to its unique implementation of sharding called Nightshade. NEAR is built with a focus on usability and ease of use, for both developers and users.

About Wormhole

Wormhole is a cross-chain messaging protocol. It allows different blockchain networks to communicate with each other and is often used to bridge assets from one network to another. For example, if users wanted to transfer Ether (ETH) from the Ethereum network to the Solana network, they could do so using Wormhole.

SOURCE:

https://near.org/blog/near-integrates-wormhole-to-launch-zk-enabled-cross-chain-communication-with-ethereum/

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The platform offers a range of financial products, including trading, lending, farming, staking, prediction markets, and launchpad, making it a comprehensive solution for DeFi users. Its team has put great effort into developing innovative and carefully designed mechanisms to enhance the user experience and maximize returns.

The Partnership

WispSwap has integrated with Wormhole, enabling users to seamlessly allocate their assets cross-chain. This integration represents its commitment to offering a superior service to its users.

With the one-stop service provided by WispSwap, users can transfer their assets freely between different blockchain networks, directly from the WispSwap platform. This advancement in technology will further streamline the user experience, providing greater efficiency and convenience.

Integrating Wormhole Connect also enhances the liquidity depth of its Asymmetric Concentrated Liquidity Market Maker (ACLMM) DEX on WispSwap, enabling efficient trading with minimized slippage. This leads to increased trading volume and more transaction fees for liquidity providers.

What is Wormhole?

Wormhole is a revolutionary cross-chain messaging protocol shaping decentralized applications’ future. It has become the industry standard for powering applications across Web3, providing developers access to liquidity and users on over 20 leading blockchain networks.

With its ability to enable use cases that span DeFi, NFTs, governance, and more, Wormhole is paving the way for the next wave of decentralized applications. The platform offers a growing suite of products that can be built on its messaging layer, with Wormhole Connect being a key asset layer product. It provides developers with an in-app bridging widget that can be easily integrated into just a few lines of code.

RESOURCES

WispSwap

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This integration of Unique with Wormhole will allow investors and founders to manage their assets seamlessly across different networks without the need to bridge assets.

Unique’s on-chain governance layer facilitates secure and transparent capital management and deployment, ensuring that users have a trustless environment to handle their assets. Through automation of investment execution, fundraising, and asset management processes, angel investors, investment syndicates, venture funds, and startup founders can effectively manage their assets with Unique.

Wormhole’s messaging protocol provides a crucial component for Unique’s platform by enabling inter-network operability, allowing compatibility between different blockchain environments. The messaging layer allows for the exchange of arbitrary data between blockchains, including tokens, NFTs, governance decisions, and more, which will be beneficial for Unique users.

This integration offers Unique users a seamless and efficient way to access a broader range of investment opportunities on different blockchain ecosystems. By sending instructions to execute transactions across supported chains, users can manage their assets in a trustless environment, ensuring a high level of security and speed.

In conclusion, Unique’s integration with Wormhole’s messaging protocol offers a significant advantage for investors and founders seeking to manage their assets across different blockchain ecosystems. By automating investment execution, fundraising, and asset management processes, the platform provides a secure and transparent environment for its users. With the added benefit of inter-network operability through Wormhole, Unique users can easily access a wider range of investment opportunities on different blockchain ecosystems.

About Wormhole

Wormhole, an interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration.

Website | Twitter

About Unique

Unique is a platform that allows people to quickly and securely pool resources, establish customizable on-chain governance structures and collectively own assets without knowing a single line of code.

Website | Twitter

SOURCE

https://uniquevcs.medium.com/unique-inter-network-compatibility-powered-by-wormhole-dbba88aa5f74

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Kana Labs  Cross Chain Solutions, built using both proprietary tech and integrations with multiple bridges. Make Cross-Chain transactions with faster speed and lower costs powered by a layer of bridge networking together with a proprietary smart routing algorithm.

Cross Chain

Kana Labs’ Cross-Chain solution is based on unique technology as well as interfaces with different bridges. They are collaborating with numerous protocols for third-party bridge solutions, including Wormhole, LayerZero, Axelar, the Celer network, and other proprietary bridges established by some of the blockchain networks themselves.

The layer of aggregated bridges is integrated into their UI alongside proprietary Kana technology to facilitate a true on-chain cross-chain transaction environment across various DeFi and DEX platforms from different blockchain ecosystems. As a result, we are one of the few service providers in the present blockchain industry that offers full on-chain DeFi operations.

On top of this layer of networked bridges, they have managed to integrate multiple non-EVMs such as Aptos&Solana as well as EVMs such as Neon&Polygon with the intention of continuing to integrate more bridges into the underlying core layer of bridges as well as multiple networks on top of this layer to provide a true networked and multi-chain/cross-chain environment for both retail users and dapps to build on.

The Disadvantages in Existing Cross-chain Solutions

Users must either manually exchange assets across different DeFi and DEX dApps or utilize cross-chain supported dApps that provide swap services to move assets between several blockchains. This results in a broker UX, making it even more difficult for novice users in the web3 ecosystem to become accustomed to many transactions, signs, confirmations, and a broad range of various UX across multiple dapps and networks.

There has been an exponential increase in the number of blockchain networks over the last couple of years, and it currently stands at 45+, with this number expected to rise in the coming years. As a result, web3 must learn to live in this multi-chain world and strive to make the experience across these chains as seamless and intuitive as possible if it is to onboard the next billion users.

A few protocols have attempted to address this issue by constructing numerous copies of their platform over many networks, however this approach is not scalable and just contributes to the dispersion of liquidity and users across multiple blockchain networks.

Other protocols have attempted to address this issue by building cross-chain products across multiple blockchains using bridges such as LayerZero/Wormhole, but this results in a centralized cross-chain functionality that is highly dependent on specific bridges, resulting in higher transaction costs and inefficient, time-consuming transactions.

What’s special about Kana Labs Tech?

Kana Labs is preparing for a multi-chain/cross-chain world that will give a highly frictionless experience for new and existing Web3 users, as well as a platform for dapps to gain extra liquidity regardless of the network on which they are built. These dapps would also be able to tap into consumers from many networks and grow over numerous chains without the need to grasp and comprehend intricate blockchain technology and development.

This is made feasible by their layer of networked bridges, which combines several bridges such as LayerZero, Wormhole, Celer, Axelar, and others, and serves as the foundation of our platform. This, in conjunction with their smart routing technology and a complementary suite of cross-chain products such as swap, lends, borrow, yield-farming, and a multi-chain wallet, would provide users with a seamless UX that abstracts away the complexity of dealing with multiple networks, transaction costs, delays, and broken UX across different dapps. Other dapps would be able to simply build on top of this aggregated bridging layer using our SDK, allowing them to grow across various networks and access more liquidity.

Their technology and routing algorithm ensure that the user or dapp receives the optimum pricing/rates/yields across several networks for every cross-chain transaction, maximizing their earning potential.

About Kana Labs

Kana Labs is a wallet-based multi-functional product suite that caters to all key DeFi needs in Solana, Neon and many more ecosystems. Swap, stake, farm, lend, borrow, and more in a single multi-chain wallet-based application.

Website | Twitter

SOURCE

https://docs.kanalabs.io/products-and-features/cross-chain

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Injective offers developers out-of-the-box modules such as a completely decentralized order book that can be utilized to build a diverse array of sophisticated applications. This modular system allows new and exciting products to be built in a fast and secure way that maintains composability.

Because Injective is built using the Cosmos SDK, it can achieve instant transaction finality using the Tendermint proof-of-state consensus framework. More on that later.

Exclusive Focus on Finance Products

Furthermore, Injective is focused on providing capital efficiency and the best-in-class user experience. Injective strives to accomplish this by providing people with an interoperable decentralized infrastructure layer that gives people unprecedented access to decentralized financial markets, products, services, and tools.

Extremely Developer-Friendly

With the IBC (Inter-Blockchain Communication protocol), the Cosmos SDK, and full Ethereum compatibility, the Injective blockchain can be easily connected to other chains, allowing for easy cross-chain migration and interoperability. CosmWasm, a novel smart contracting platform built for the Cosmos ecosystem, gives developers the ability to easily launch their smart-contract-powered applications on Injective while seamlessly migrating smart contracts from other chains using CosmWasm.

Utilize Cosmos’ Security

Injective is built with Tendermint, a state-of-the-art blockchain engine, that allows the software to be securely and consistently replicated.

But what is meant by “securely”? Well, it means that Tendermint continues to work, even if up to 1/3 of machines fail in arbitrary ways. The ability to tolerate machines failing in arbitrary ways — including becoming malicious — is known as Byzantine Fault Tolerance (BFT).

Furthermore, “consistently” in that context means that every non-faulty machine sees the same transaction log and computes the same state.

The combination of using CosmWasm and the Tendermint Core proof-of-stake consensus mechanism assures the security of the whole Cosmos ecosystem and, with it, Injective’s security.

ABOUT Injective

Injective’s mission is to create a truly free and inclusive financial system through decentralization. With the fastest blockchain built for finance and plug-and-play Web3 modules, Injective’s ecosystem is reshaping a broken financial system. With dApps that are highly interoperable, scalable, and truly decentralized.

Website | Twitter

ABOUT Wormhole

Wormhole V1 was introduced in 2020 by Certus One. It was initially conceived as a traditional token bridge between Ethereum and Solana. It served as the first bridge on Solana and was responsible for bootstrapping a large amount of the liquidity in the early Solana and Serum ecosystems.

Website | Twitter

RESOURCES

Wormhole

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Bonfida is proud to highlight its partnership with Wormhole, which will bring SNS (Solana Name Service) cross-chain to the platform.

Partnership Highlights

Through its partnership with Wormhole was one of the most practical decisions Bonfida could have made. Their bridge strongly supports their vision of maintaining the nucleus of decentralization and trustlessness.

Using Wormhole, you can replace your pubkey with.sol on any supported chain (s). In simpler terms, the usability of your domain extends to other chains. You can use your natively obtained Solana domain on “xyz” just as you do now.

Why go cross-chain?

Their main priority is to broaden the reach of SNS across different ecosystems and increase its utility.  Bonfida sees a future where.sol domains will be more than just a domain and will eventually serve as a digital passport.

This integration expands partnership opportunities, from wallets to GameFi and many more. Solana remains where hearts are, and where they intend to onboard more users!

Bonfida’s focus is on SNS and solidifying its future position – and by going cross-chain with Wormhole, we see great opportunities for future growth.

The goal of Bonfida is to make.sol the de facto naming infrastructure in Web3 while promoting the Solana ecosystem.

About Bonfida

Bonfida is the full product suite that bridges the gap between Serum, Solana and the user. Bonfida aims to showcase what can be done on the strongest performing blockchain out there.

Website ♦ Twitter

About Wormhole

Wormhole, an interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration.

Website | Twitter

SOURCE

1/ It’s WE BUILD WEDNESDAY 🛠️

Today, we’d like to highlight our partner @wormholecrypto & their capacity to expand the Solana/Bonfida world

If that wasn’t clear enough, our next move involves taking the @solana name service cross-chain and who better to do it with? pic.twitter.com/narPbthSQ6

— sns.sol (@sns) November 23, 2022

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StellaSwap Partners with Wormhole. The time has come for StellaSwap and the wider Moonbeam ecosystem to rebuild itself post-Nomad exploit. The foundation of any robust ecosystem lies on a sturdy infrastructure, and in the context of Moonbeam, bridging still remains a core pillar of the network.

Wormhole will be the leading bridge for StellaSwap, allowing users to bridge their assets across the top blockchain networks securely. StellaSwap farms will be rebuild with Wormhole assets.

Why Wormhole

A tremendous amount of resources was expanded internally as well as across the ecosystem to evaluate the next steps for Moonbeam post-Nomad exploit. This was manifested in StellaSwap’s bridging framework that outlined the key parameters that are useful for evaluating bridges for the ecosystem.

The selection of Wormhole was based on two major considerations;

1. Moonwell Governance Vote: Moonwell community governance enabled the broader Moonbeam ecosystem, including StellaSwap, to poll users for their bridge preference through a snapshot vote on the preferred bridge. Wormhole was the overwhelming favourite, amassing 66% of the total votes.
2. Security & Financial Coverage as the Over-Arching Factors: The second major consideration was our own internal evaluation of the most optimal bridge choice based on our analysis, which pointed to Wormhole based on two main factors; security and financial coverage. As StellaSwap was at ground 0 for Nomad’s exploit, we fully understood the need for a robust security framework and the importance of financial coverage in making users whole in the event of an exploit.

Security must be discussed from a larger spectrum of elements that is beyond architectural logic but also, and equally, emphasised on various other vectors that included operational processes, safeguard mechanisms, audit coverage (full audit, continual audit & bounty), incident control and testing SOPs (for deployments). The comprehensiveness of “security” must be explore in detail for each component to ensure a proper evaluation of security prowess, and Wormhole edges out in aggregate. This will be discuss in the security section below.

There was also a concession that was highlight in framework that exploits/hacks may be undeniable in the world of DeFi. Therefore another core pillar discussed was financial coverage. This exact point was presumably a major factor by participants in the Moonwell governance process. There was no ‘lender of last resorts’ to backstop user losses. This insurance coverage — besides a robust security framework — played a strong part in why Wormhole was regarded as a credible & strong bridge option.

Wormhole Portal’s Farm Launch

The following strategic assets will be re-launch on StellaSwap with Wormhole’s assets that include;

• USDC
• ETH
• WBTC
• BUSD

Given that the ecosystem will revert to business-as-usual (BAU), the above strategic farms — together with other native farms such as DOT — would need to be the first priority, especially for critical protocols like Moonwell, that has conceived the plan for deprecating Nomad assets and is awaiting for sufficient liquidity to open other non-native markets.

Besides the aforementioned farms, we will collaborate closely with Wormhole to support other assets across other chains.

Utilizing Ecosystem Grants to Spearhead Growth & Liquidity

StellaSwap has already submitted an ecosystem grant proposal for rebuilding baseline liquidity across all strategic assets. You can start voting on it here > StellaSwap’s Ecosystem Grant Proposal.

If the vote passes, StellaSwap will launch the strategic farms with ecosystem grants to drive up TVL. Allowing deeper market depths & a conducive trading environment, which are critical components of a fully-functioning & robust ecosystem.

About Wormhole

Wormhole a generic message passing protocol that connects to multiple chains. Including Ethereum, Solana, Terra, Binance Smart Chain, Polygon, Klaytn and more.

Website | Twitter |

About StellaSwap

StellaSwap the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects & engage in NFT trading all from a single unified platform.

Website | Twitter |

Source

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Algorand aims to reshape a variety of industries — from TradFi and DeFi — to new creator economies and beyond. With an extraordinary commitment to interoperability and consistent delivery, its sustainable technology powers more participation, transparency, and efficiency for all. As the technology of choice for 2000+ global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols, and exchange of value.

The consensus protocol

The problem with many blockchains is they sacrifice at least one of the key properties of security, scalability, and decentralization. This is known as the blockchain trilemma. Silvio and his team try to solve the blockchain trilemma by inventing a new Pure Proof of Stake (PPoS) consensus protocol, which is the protocol that the Algorand blockchain uses.

Algorand’s consensus protocol works by selecting a block proposer and a set of voting committees at each block round to propose a block and validate the proposal, respectively. The proposer and committees are randomly chosen from the pool of all token holders (the accounts that hold Algo tokens), and the likelihood of being chosen is proportional to the account’s stake in the network.

Multiple advance cryptographic algorithms go into this process, with fancy names like “verifiable random functions” and “cryptographic sortition”. Those algorithms ensure that the vote is fair, no one can collude, and that the overall system is highly secure.

Algorand Core Features

Algorand makes it easy to tokenize, transfer, and program conditions on any instrument of value. Users can create fungible tokens, NFTs, and security tokens with just a single transaction, with no smart contract code required. Or they can program sophisticated decentralized applications (dApps) with Algorand smart contracts.

Sustainability

Algorand aims to become the first carbon-negative blockchain. With its unique consensus mechanism, Algorand is far more energy efficient than other blockchains and is going further by offsetting its carbon footprint in partnership with ClimateTrade, a leader in CO2 emissions transparency and traceability that is using blockchain-based solutions to improve the efficiency of sustainability efforts for leading corporations around the globe.

Wormhole’s supported networks

Wormhole allows users to send assets to and from any of the supported chains without double-wrapping the asset. It enables seamless access to each network’s vibrant DeFi and NFT ecosystem.

ABOUT Wormhole

Wormhole provides a low lift, low code solution for multiple xChain use cases. The Wormhole SDK covers a wide range of use cases to make xChain simpler for tokens, NFTs, apps, and other generic messaging applications.

Twitter | Website

ABOUT Algorand

Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure.

Website | Twitter 

RESOURCES

Wormhole

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Wormhole announced its integration with Swim Protocol, a multi-chain AMM for native assets designed to make bridging easy.

Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools while also utilizing Wormhole’s Portal bridge for the underlying bridging function.

What is Swim Protocol?

To begin with, Swim, a multi-chain AMM that enables cross-chain swaps by establishing liquidity pools of two or more tokens across multiple blockchains.

It eliminates the need for wrapped assets by allowing users to swap from a native asset on one chain to a native asset on any other supported chain while utilizing Wormhole’s Portal Bridge to bridge those assets.

Swim’s solutions reduce the barriers users face when performing cross-chain transactions, allowing seamless interoperability between various blockchain networks.

• Native to native swap

Swim eliminates the need for users to interact with wrapped assets by allowing a swap from a native asset on one chain to a native asset on any other supported chain.

• Bridge status feature

Bridge status is a way for users to see where their funds are every step of the way without understanding the cross-chain complexity under the hood. Indeed, this unique feature provides the ability to push funds through the process if they get stuck somewhere along the way, allowing anyone to continue bridging where the process left off.

• Pool Design

You can find more information 👉 here on how pools are designed and why Swim used AMM-style pools instead of a 1-to-1 bridging solution.

Swim Protocol won the Wormhole Prize at the Solana Ignition Hackathon back in October 2022 and, in March 2022, launched its Alpha mainnet.

Wormhole Implementation

As previously mentioned, Swim utilizes Wormhole’s Portal bridge by relying on its mint and burn mechanism, which creates wrapped assets when initiating a bridge transfer.

As assets are deposited onto Swim’s smart contracts, the tokens are bridged via Portal, and the resulting wrapped assets are deposited into smart contracts on the target chain. These are responsible for maintaining an accurate state of token balances in the pool.

Finally, for Swim users to experience a seamless transfer, this process happens “behind the curtain.”

What Swim Protocol has to say about integration with Wormhole:

“Security is an integral part of any bridging experience and we felt it was necessary to ensure safe transactions as a vital first step in creating the protocol. Our team believes that Wormhole will likely be the most performant bridge in speed while maintaining a robust degree of security. Additionally, an advantage of Wormhole is that it will likely grow beyond the currently supported chains to include other blockchains. Swim will, in turn, grow with each new iteration of Wormhole, increasing our protocol’s functionality.”

About Wormhole

Interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration.

Website ♦ Twitter

About Swim

Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools and Solana’s Wormhole. No more delays, centralized bridges, or wrapped assets.

Website ♦ Twitter 

⏩ SOURCE

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