Wanchain Bridge — Your Ultimate Tool to Take Advantage of Cardano’s Defi Opportunities
As blockchain technology keeps evolving, it’s becoming more important to connect together different networks. This helps users and boosts the growth of the entire crypto world.
August 8th marks one year since Wanchain launched its Cardano Bridge. This bridge is a game-changer for Cardano. Not only does it allow users to bring the most traded assets like BTC, ETH, USDT, and USDT to Cardano, but it also helps to build Cardano’s DeFi and connect it to the greater crypto world. We can see the Cardano Bridge's success spanning across many different metrics already such as increased inflows or improved DeFi activity.
From Concept to Reality
From what started off as a simple concept, Wanchain’s Cardano Bridge now boasts connectivity to 12 chains and 16 different assets! In addition, Wanchain’s bridge has exposed Cardano to some of crypto’s largest asset classes like DAI, ETH, USDT, USDC, and BTC for the first time in history. To date, nearly 26+ BTC, $1,500,000 USDC & USDT have been minted on Cardano. $20,000,000 USDC & USDT has also been processed in cross-chain transactions thanks to the Wanchain’s Cardano Bridge!
Check out this cool infographic to see all the way how they help to bring more DeFi to Cardano:
Cardano’s Lucrative Crosschain Opportunities
Cardano dApps have been quick to adopt Wanchain-bridged assets throughout the ecosystem. Today, we will be sharing three of the hottest cross-chain opportunities on Cardano to date! Enjoy!
Liqwid Finance is the leading lending & borrowing platform on Cardano. It was also among the first protocols to support Wanchain bridged assets.
At the time of writing, Liqwid currently offers a 12.84% APR on supplying USDC.
Want to take advantage of Liqwid’s healthy stablecoin APR but haven’t bridged ERC20 assets to Cardano yet? No problem! X user “@decypher_xyz” gives you a step-by-step breakdown of how to do just that! In his example, he ports USDC from Arbitrum to Cardano via the Wanchain Bridge and sends it straight to Liqwid to get a juicy 12.84% APR!
Minswap is the largest decentralized exchange on Cardano and currently has some of the best rates on stables! Users can take advantage of the USDC-DJED pool and earn a 12.05% APR! To do this, simply use the Wanchain Bridge to port any of your ERC20-based USDC assets to the Cardano network. Then use your Cardano-based USDC like any other Cardano asset on the network and connect to Minswap!
Vyfinance is another leading DEX built on Cardano! Vyfinance is currently offering a healthy 18.05% APR on its ADA/BTC pool! In case you were wondering how the heck you’re supposed to get BTC to Cardano then look no further! The Wanchain Bridge is here to help you do just that! Similarly to the aforementioned steps, simply use the Wanchain Bridge and select a supported chain and BTC as an asset. From there, choose Cardano as your destination chain, select the BTC asset, and swap!
Conclusion
Wanchain’s Cardano Bridge is a big step forward for Cardano and the crypto world. By linking Cardano to other blockchains, more financial opportunities are created for users. This bridge makes Cardano stronger and encourages new ideas across different blockchains. As the crypto space grows, solutions like Wanchain’s are key to a more connected future. By making cross-chain accessible to all, Wanchain continues to challenge the technological boundaries of what’s possible. Get your cross-chain journey started today with the Wanchain Bridge!
P.S. If you are new to bridging, just follow this step-by-step guide that will teach you how to easily move your tokens in and out of Cardano.
