ADD.xyz to Launch New Cross Chain Token Bridge!
The Development Team at ADD are excited to announce the launch of our first ever cross chain bridge, allowing users to bridge to new and multiple networks providing the benefit of faster transaction confirmations and lower network fees.
Decentralized finance (Defi) and cross-chain bridge technology have continued to grow in value this year. A cross-chain bridge allows users to connect to another blockchain, which in most cross-chain cases the other network has been the Ethereum chain, and users can swap assets back and forth between each blockchain.
Last month, Bitcoin.com News reported on an in-depth study that covers the myriad of multi-chain bridges that exist today. At that time on September 16, metrics from Dune Analytics’ “Bridge Away (L1 Ethereum)” dashboard indicated that bridges held $7.79 billion total value locked (TVL).
Since then statistics show the TVL has increased by 89% to $14.75 billion in value today.
ADD’s development team are expected to reveal and launch a new integrated cross chain bridge into our DeFi web platform and Mobile Application before the end of November 2021, allowing users to imminently wield the benefits of cross chain integrations. This signals an important step forward for ADD.xyz as the company continues to grow.
For any questions please feel free to reach out to us on:
Reddit — https://www.reddit.com/r/ADDxyz/