Fuse Integrates Allbridge to Bring Tokens Like LUNA and TerraUSD to the Ecosystem
The Fuse Network blockchain has been added to the list of blockchains connected by the Allbridge protocol. The first tokens that can be bridged to and from Fuse Network are LUNA and UST. Voltage Finance trading pools and rewards programs for liquidity providers on them will be launched soon.
One of the important recent trends in the crypto space has been the growth of multiple independent layer-one public blockchains, including those that are not based on the Ethereum Virtual Machine (EVM).
At Fuse, we have always strived to achieve interoperability with as many platforms as possible, regardless of their underlying technology. Therefore, we are happy to announce the integration with the Allbridge interoperability platform.
An interoperability platform for all types of chains
Allbridge is a cross-chain asset transfer protocol that supports both EVM-compatible chains like Binance Smart Chain (BSC), Fantom and Polygon, and others like Terra and Solana.
Allbridge enables two types of bridges for the supported tokens: lock-unlock bridges that do not require liquidity for transfers and those that do rely on liquidity-supplying routers on the destination chain. Regardless of the bridge type, users need to complete two transactions: the sending one on the starting chain and the claiming one on the destination chain. Users need to cover the transaction fees on both chains.
In addition to this, token transfers between chains are subject to a fixed 0.3% transaction fee payable with the send transaction in the transferred currency. The amount can be reduced if the user has xABR tokens in their wallet (explained below).
Allbridge has its own platform token ABR. It can be staked on any of the supported blockchains and the stakers receive xABR tokens that they can then use to pay bridge fees at a discount.
How Fuse integrates Allbridge
The Fuse Network blockchain has been added to the list of chains fully supported by the Allbridge platform that also includes Aurora, Avalanche, BSC, Celo, Ethereum, Fantom, Harmony, HECO, Polygon, Solana and Terra. To expedite the integration, Allbridge received an ecosystem development grant from FuseDAO.
Users can access the Allbridge interface here. The first two tokens bridged to Fuse Network via Allbridge, in addition to ABR, are LUNA, the native token of the Terra blockchain, and the popular TerraUSD (UST) algorithmic stablecoin, also from Terra. They can now be transferred to and from Fuse Network from/to any other Allbridge-supported chain.
The addition of those tokens will enable us to create LUNA/UST and FUSE/UST trading pools on the Voltage Finance (formerly, FuseFi) decentralized exchange. Yield farming programs for liquidity providers on the pools will also be launched soon, offering the LPs on each pool 50,000 FUSE in rewards for the duration of two months. Stay tuned for the upcoming announcements for more details.
