ICON is now an Origination Chain in Orbit Bridge!
Following the December integration of ICON as a destination chain, we are excited to announce that we have further integrated ICON as an origination chain in Orbit Bridge. This means that ICON users can now bridge tokens including ICX directly from the ICON chain to other chains connected to Orbit Bridge. This connectivity will start off with Klaytn and Orbit Chain, and will include in the future other Orbit Bridge connected chains like Ethereum, BSC, HECO, and Polygon. Since the last collaboration between Ozys and ICON Foundation, we have been diligently working together to bring more connectivity and ease of use for members of Orbit Chain and ICON ecosystems.
This integration brings even more value to both Orbit Chain and the ICON Network, specifically the ICON DeFi ecosystem. While before, as a destination chain, ICON was able to have 15 Ethereum-based assets transferred to the ICON Network (ORC, ETH, USDT, USDC, WBTC, REN, DAI, LINK, etc.), Orbit Bridge will now connect ICON-based assets like ICX to heterogeneous chains. Ultimately, the power of Orbit Chain’s IBC protocol, Orbit Bridge, will lead to more transactions and more value exchange for ICX and other ICON-based tokens. This will also be a new avenue for the ICX token to gain more utility.
Orbit Chain’s Orbit Bridge has proved itself to be a standout IBC protocol in the DeFi space. Since its launch it has bridged over $5B worth of assets across different chains, a feat unmatched by any other decentralized service. The team, however, is not stopping with this achievement, but is expanding the connectivity with even more new chains to establish Orbit Bridge as the go-to bridge protocol for cross-chain bridging across all major chains.
Since launching in October 2020, Orbit Bridge has expanded quickly across networks and has bridged more than 30,000 transactions. Its bridged assets are utilized by DeFi protocols on all its connected chains and it also supports cross-chain mining distribution, which is currently the system used by Belt Finance and Autofarm on their cross-chain expansion from Binance Smart Chain to HECO Chain and Polygon, respectively.
The integration of ICON as an origination chain in Orbit Bridge is a part of the Orbit Chain initiative to become the definitive solution in cross-chain compatibility. This will not only make it easier for the holders of assets from ICON to experience the Orbit ecosystem but to also allow Orbit Bridge users and Orbit Chain holders to experience the economic benefits of ICON and ICON-based assets as well. We are very excited for the new opportunities for our users and users of these chains that these additions will bring.
This new Orbit Bridge integration is an exciting next step for the growth of Orbit Chain and the ICON DeFi Ecosystem and we look forward to bringing ICON assets to our community as a whole!
[About ICON]
ICON, one of the largest projects in the cryptocurrency space, is a decentralized network of blockchain communities that aims to “hyperconnect the world” through interoperability. ICON’s blockchain transmission protocol creates cross-chain use cases in which heterogeneous chains with different governances connect and transact without intermediaries. ICON focuses on usability, and their tech is currently being applied in the real world in industries such as banking, securities, insurance, hospitals, and universities. ICON sets itself apart by having one of the highest confirmed transaction rates of any blockchain at 9000 TPS. ICON has support from dozens of established institutions in both the public and private sectors, including the South Korean government.
[Official sites & communities]
Orbit Bridge: https://bridge.orbitchain.io
KLAYswap: https://klayswap.com
KLAYstation: https://klaystation.io
Orbit Chain : https://orbitchain.io
Orbit Chain Global Telegram: https://t.me/OrbitChainGlobal
Orbit Chain Twitter: https://twitter.com/Orbit_Chain
