Ferrum Network ups TVL on Cudos with MultiSwap integration

The Ferrum Network becomes Cudos Foundation’s second grantee to drive the long-term growth of the Cudos blockchain through the integration with their multichain DEX aggregator — MultiSwap.

Why it matters

By integrating MultiSwap with the Cudos blockchain, Ferrum will:

• drive TVL (Total Value Locked) on the network.
• Reduce layers of friction between new users and the network
• Make assets on Cudos more composable
• Increase volume on the network

Go deeper

The first step in the process is to ensure that Cudos is securely and effectively connected to both EVM and non-EVM-compatible networks alike. Next, the focus will be on the following:

• Scoping and defining resources for the Cudos MultiSwap integration
• Build, deploy, and internally QA MultiSwap Shell App
• Testing by Cudos and Audit Submission
• MultiSwap Mainnet deployment, testing and incorporation of final feedback
• Incorporate audit feedback and launch Cudos Integration with MultiSwap

To commemorate the future collaboration, Nick Odio, Chief Growth Officer at Ferrum Network, stated, “We are delighted to be integrating our friends at Cudos with MultiSwap powered by Ferrum Network. Cudos will become the first network within the Cosmos ecosystem that we will be integrating and will provide the building blocks to do so for others in the future. To our knowledge, MultiSwap will be the first CosmWasm-compatible interoperability protocol on the market, and we thank Cudos for giving us the opportunity!”

Context

The project aligns with the Foundation’s purpose to grow the Cudos network. The MultiSwap integration will encourage more TVL (Total Value Locked) on the network and make it easier for projects to build on Cudos. When this product is built for Cudos, other networks building using Tendermint Core and Cosmos SDK will have an easier path toward interoperability. Ferrum and Cudos teaming up on this will bring value to both Cudos and the Cosmos ecosystem more widely.

“We are excited to welcome the Ferrum Network into our grant program and firmly believe that this will be a beneficial collaboration both for the Cudos Foundation and Cudos Blockchain as a whole.

The first step in the process is to ensure that Cudos is securely and effectively connected, hitting all key milestones along the way. We look forward to future developments alongside the Ferrum Team! ” — says Lee Woodham, Chairman of Cudos Foundation and COO of CudoVentures.

To learn more about the program’s Terms and Conditions, please visit cudos.foundation/grants and join its lively Discord community. Projects interested in receiving funding can apply using the grant application form.

About Ferrum Network

Ferrum is ushering in the era of blockchain interoperability 2.0. Powered by a multichain messaging engine known as Quantum Portal, Ferrum Network’s mainnet will bring value, data, and functional interoperability to every chain in the industry.

Utilize Ferrum Network to build and deploy solutions on one network and instantly enable multichain functionality without the burden or technical debt that comes with managing a multichain infrastructure.

Learn more about Ferrum Network:

Website | Telegram | Twitter | YouTube | Discord

About Cudos Foundation

The Cudos Foundation, was launched to serve as a catalyst for development and growth of the Cudos blockchain network in support of becoming the preeminent leader in decentralised cloud computing. With grant opportunities between $5,000 and $250,000, Foundation is known to show a particular interest in DeFi, NFT, metaverses, gaming, infrastructure tokenization, and mass adoption-focused tools and bridges, pioneering and expanding on idea of decentralized, permissionless access to high-performance computing at scale.

Learn more about CUDOS and The Foundation:

Website | Twitter | Telegram | YouTube | Discord | Medium | Podcast

Press contact: Marianna Charalambous, Grant Program Manager, marianna.charalambous@cudoventures.com

Originally published at https://www.cudos.org.