DAM and Hyperlane partner to scale native liquidity on Astar Network
Users can now teleport DAM’s omnichain stablecoin d2o between Ethereum, Astar and Moonbeam through DAM’s permissionless deployment of Hyperlane.
DAM, an omnichain stablecoin protocol, and Hyperlane, the permissionless interoperability layer, have partnered to extend the minting of d2o to the Astar Network, a Polkadot parachain.
With this integration live, users can immediately access native stablecoin liquidity on Astar by teleporting the d2o stablecoin as a native asset from Ethereum or Moonbeam, without traditional bridge risk associated with wrapped assets.
d2o is collateralized by USDC on Ethereum, and teleported to destination networks as a native asset through a mint-and-burn architecture.
Additionally, projects building on the Astar network can leverage DAM’s integration with Hyperlane to deploy cross-blockchain dapps, including with d2o as a primitive.
To celebrate the launch, Astar Network, Hyperlane and DAM Finance are hosting an online chess tournament on Immortal Game platform — make sure you sign-up here: https://exazm9xy93s.typeform.com/to/mbLYiBy8?typeform-source=t.co
“d2o is a simple, yet powerful for mechanism for helping blockchains scale native stablecoin liquidity while reducing fragmentation across blockchains,” said Harrison Comfort, DAM co-founder. “Our integration with Hyperlane enables our community to access an exciting network in Astar while staying true to our enterprise-focused infrastructure“.
“The concept of interchain stablecoins is incredibly exciting, it is one of the first usecases we’ve anticipated for Hyperlane, and with DAM it is finally becoming a reality”, said Jon Kol, Hyperlane co-founder. “We’re thrilled to see this experiment come to life, and expect great things to come from DAM Finance”.
“Having native d2o on Astar means teams can build a business with a stable store of value without abandoning the decentralized blockchain space,” said Jerad Banyan, Astar Marketing Director. “On top of that, Hyperlane adds a new powerful tool to bolster our multichain smart contracts.”
About Hyperlane:
Hyperlane is the first Permissionless Interoperability layer, meaning enabling anyone to bring the Hyperlane interoperability stack to any blockchain, any appchain, any rollup, anytime. With Hyperlane deployed on their chains of choice, developers can build Interchain Applications, apps that abstract away the complexity of interchain interactions and serve users on any connected chain. Additionally, Hyperlane’s modular security gives developers the power to customize their interchain security. Developers can mix, match, and stack security models, or even build their own.
About Astar:
Astar is a scalable decentralized blockchain for the next big Web3 innovations.
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About DAM:
DAM is an omnichain stablecoin protocol between sovereign networks. DAM’s first decentralized application is d2o, a stablecoin collateralized by USDC on Ethereum, and teleported to destination networks as a native asset through a mint-and-burn architecture.
