IOST connects Gravity Network to foster cross-chain functionality
As Gravity expands the list of its target chains, IOST is joining the likes of Waves, Ethereum, and Tron.
We are excited to announce that IOST is joining Gravity network, a cross-chain oracle and communication network, as a target chain. IOST will become one of the platforms connected to Gravity, along with Waves, Ethereum, and Tron.
As a result of this integration, users will be able to benefit from the cross-chain compatibility between IOST and all Gravity target chains, gaining access to powerful Web 3.0 solutions, such as inter-chain DeFi (InDeFi). The collaboration will offer IOST the following benefits:
1. New trading opportunities
The SuSy gateway protocol is used for cross-chain token swaps and operates on top of the Gravity protocol. Therefore, IOST tokens will be accessible as wrapped tokens on chains that the Gravity protocol is integrated with, including Ethereum, Tron, Solana and Waves. This will pave the way to IOST listing on decentralized exchanges, such as Waves Exchange.
2. Additional liquidity
Gravity is a blockchain-agnostic solution: there is no specific “Gravity” token, instead, tokens of target chains are used. Similarly to ETH, TRX, WAVES and others, it will be possible to use IOST to pay fees and for node owners as collateral, which will add liquidity to IOST.
3. Decentralized Oracle solutions
Adding the Gravity oracle solution to the IOST network will bring about new opportunities for IOST dApp developers. The use of Gravity data providers will make it possible to retrieve off-chain data via smart contracts in a decentralized way, improving developers’ experience in the IOST network.
In turn, the integration of IOST will make the Gravity network more powerful, providing access to new dApps and tokens for users of all connected blockchains.
We’d like to special mention IOST.BEST.NODE partner node for connecting IOST and Gravity Network to develop our partnership.
About Gravity Network
Gravity is an open-source technology with transparent mechanisms for introducing changes and improvements. A blockchain-agnostic oracle system that supports communication of blockchains with the outside world, cross-chain communication, and sidechains within a single unified structure.
Gravity’s current network of partners includes top-tier blockchains and established names.
The Gravity protocol connects various blockchains to the outside world and to each other, enabling the creation of decentralized gateways on top of it, to allow users of different blockchain ecosystems, like, Waves and Ethereum, to interact with each other and work with their native tokens. Thus, Gravity is a foundation for inter-chain DeFi. It provides an opportunity to build new and diverse DeFi products and make them accessible on all chains.
Join the community of open-source developers and service providers to contribute to the success of web3.0!
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