NEAR Foundation issues grant to Composable for extending IBC to NEAR Protocol via the Centauri bridge
We are pleased to announce that Composable Finance has received a grant from the NEAR Foundation. We had previously outlined our vision for extending Centauri to NEAR, and by receiving this grant, we will be able to accelerate and incentivize the adoption of our infrastructure and Centauri once connected to NEAR via the Inter-Blockchain Communication Protocol (IBC). Ultimately, we are striving for sustainable means of collaboration across multiple DeFi ecosystems: Any Money, Any Chain, Anywhere.
“We are driven by the vision of a collaborative and connected DeFi future and are always excited when prominent ecosystems come together and align on this vision. The NEAR ecosystem has an impressive community of developers and users, and we’re keen to see what they can accomplish for DeFi once they are integrated into Centauri and the rest of our interoperable infrastructure.” — 0xbrainjar, Founder & CEO at Composable Finance
The goal of the grant is to support our efforts in building a collaborative environment and spirit for users and developers between our ecosystem and that of NEAR protocol. Specifically, the grant will be utilized to subsidize the bridging fees for transactions carried out by initial users of the bridge once Centauri has established a connection to NEAR. We have been collaborating with the NEAR team to implement a light client version of GRANDPA on the NEAR network.
Our team has been supporting NEAR’s developers to improve their infrastructure in areas such as signature verification, missing validity proofs, singular validation processes, and more.
“Extending NEAR in order to make it IBC compatible has been a very challenging and rewarding journey. We are still completing some elements, which will enable us to deploy Centauri onto this thriving ecosystem. We are very thankful to everyone at NEAR, especially their core maintainers for helping us make this a reality.” — Blas, Bridging Lead at Composable Finance
These contributions to NEAR’s codebase can be seen here:
Our NEAR Enhancement Proposals:
Our PRs on NEARCORE:
We are excited to continue our work and are looking forward to reporting on our progress. Keep an eye out for updates on our project and this collaboration.
About the NEAR Foundation:
The NEAR Foundation helps to launch both a technological platform — the NEAR Protocol — and the ecosystem around it. The Foundation uses the power of its financial and operational resources to support the same mission as the overall NEAR Collective: to accelerate the world’s transition to open technologies by growing and enabling a community of developers and creators. While it shares a mission with the entirety of the NEAR Collective, the Foundation’s role in this is to realize a more specific vision: a self-sufficient ecosystem of creators, developers, entrepreneurs, community members and tokenholders whose collaborative efforts make the NEAR ecosystem the best place to build massively impactful projects in the Open Web.
About Composable Finance:
Composable Finance is dedicated to improving the accessibility, quality, transparency, efficiency, and security of decentralized finance (DeFi). It aims to do this by pioneering innovative Web3 user experiences in a trustless, non-custodial, and decentralized manner. Composable’s technology stack enables and combines key services across different DeFi ecosystems and protocols, such as Ethereum, Polkadot, Cosmos, and NEAR.
For more information about Composable and how it is architecting the unified DeFi landscape of the future, check out our socials: