pNetwork and Scaleswap Build Bridges Connecting ORE Token to Ethereum and Polygon
As part of our mission to provide cross-chain interoperability, we’re excited to announce new bridge options for the ORE Token. pNetwork launched a bridge connecting the ORE Token to the Ethereum blockchain.
pNetwork-powered bridges enable the interaction of assets with a variety of ecosystems, including Ethereum, Binance Smart Chain, Arbitrum and more. pNetwork currently supports 12 blockchains with more on the roadmap. This fits into the Open Rights Foundation’s vision of a decentralized future.
“Protocols need to be working together, across chains, to make the decentralized future practical. Our chain delivers identity and key registry management that other chains can use. So bridging to other chains is key to our strategy,” says ORE Chief Architect and AIKON CTO Tray Lewin. “We vetted multiple bridge technologies and pNetwork’s vision and approach was the clear winner to help us achieve our vision.”
“pNetwork and the Open Rights Foundation share a vision of blockchain technology being a game-changer and agree that multi-chain systems are a key element to growing mass-adoption of blockchain technology,” explains pNetwork Head of Operations Alice Corsini.
Beyond pNetwork, the team from IDO platform ScaleSwap also deployed a bridge from Ethereum to Polygon (MATIC). This bridge allows any holders of wrapped ORE Tokens on Ethereum to transition them to Polygon.
By deploying an ERC-777 token — which is compatible with ERC-20 token — pNetwork enables the ERC-777 token to represent the ORE Token on Ethereum. With the pNetwork bridge, anyone can hold wrapped ORE Tokens on Ethereum and transition ORE Tokens from Ethereum to the ORE Network.
Trusted Industry Players
“The bridge for ORE enables the project to reach new audiences within the Ethereum community and for the ORE token to leverage fast-growing ecosystems like Uniswap. Thanks to pNetwork’s ORE to Ethereum bridge, it is now possible for the ORE community to be part of the $100+ Billion Ethereum’s DeFi ecosystem,” shares Corsini.
This kind of collaboration between stakeholders is a core benefit for decentralized projects because the industry is stronger as a community. In a nascent industry, it’s important to ally with reliable and trusted partners.
We’ve found that in pNetwork and Scaleswap. pNetwork has fully audited contracts and hundreds of millions of dollars locked in their network.
The reliability of the ORE Network is paramount to our team. The ORE Network has been fully operational for over two years without downtime. To continue to protect the community and because the pNetwork bridge is a new part of the ecosystem, the Open Rights Foundation will be rate-limiting usage per account for block producers and early team members while the bridge is being tested.
During this time, the Open Rights Foundation will guarantee any tokens lost due to technical failures on the bridge and token holders can still expect full utility use of ORE Tokens.
Smart contracts on the ORE blockchain will allow all token holders access to the bridge — each wallet will be individually limited over time. So holders can use the bridge when they want without worrying about what other ORE Token users are doing.
Just the Beginning
Hot on the heels of the ORE Token Initial DEX Offering (IDO), it’s an exciting time at the Open Rights Foundation. Today, ORE accounts interoperate with Ethereum, Algorand, EOS, WAX and Telos. Polkadot, Kusama, Cardano, BSC and Solana are coming soon.
You can join other businesses, including Republic and Algorand, and use our ChainJS framework to integrate these chains now.
If you want to help build cross-chain infrastructure on ORE — get in touch with us on Telegram, Twitter or through our website. We look forward to working with you!
About the Open Rights Exchange: Built by the Open Rights Foundation, in partnership with its launch partner AIKON, the Open Rights Exchange is built to be simple to use and compatible with all chains. A single password — not a key — is provided as the entry to not just the Open Rights Exchange, but to all other chains including Ethereum, Polygon, Algorand and EOS — with even more chains being added every quarter.
