Orbit Chain
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Orbit Chain

Orbit Bridge, now also connecting BSC, HECO, Polygon, and Ripple!

Today, we are excited to announce the addition of new chains connected by Orbit Bridge.

Orbit Chain’s Orbit Bridge has proved itself to be the 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.

The impact of Orbit Bridge support could be seen immediately with the addition of the XRP bridge around two weeks ago. Since launching the XRP bridge and integrating it with KLAYswap (AMM DEX on Klaytn), we’ve seen some amazing statistics:

  • The number of XRP transactions on Orbit Bridge: 7,600+
  • The number of XRP holders on Klaytn: 4,900+
  • The number of XRP (KXRP) Transfers on Klaytn: 324,000+
  • Total Supply on Klaytn: 63,000,000+ XRP (around $90,000,000+)
  • Total Liquidity Supply of XRP on KLAYswap: $90M+
  • Liquidity Pool pairings with XRP: 5 (XRP- ETH, XRP- KLAY, XRP -ORC, XRP- DAI, XRP- KSP)

Seeing these figures, we are super excited for what the new integrations will bring.

The newest chains to join Orbit Bridge are Binance Smart Chain (BSC), Huobi ECO Chain (HECO), and Polygon (previously Matic).

These additions will open up new opportunities for users in terms of accessibility and ease of using a great variety of tokens on various mainnet DeFi ecosystems. This will also benefit the existing and new chains supported on Orbit Bridge as liquidity flows across the different chains to utilize various DeFi protocols each chain has to offer.

The following are some basic information regarding the three chains that will be added to Orbit Bridge:

Binance Smart Chain (BSC) needs little introduction. A blockchain with smart contracts capabilities developed by Binance, BSC now boasts over 9 million transactions a day across the numerous dApps hosted on the BSC platform, as well as setting a new record in TVL in the ever-increasing number of yield farms and liquidity pools available.

Huobi ECO Chain (HECO) is a decentralized, high-efficiency and energy-saving public chain. It is also the first product launched by the Huobi Open Platform. HECO is Ethereum Virtual Machine (EVM) compatible with smart contracts and supports high-performance transactions and has been seeing massive growth in its DeFi space.

Polygon (previously Matic) is a well-structured, easy-to-use platform for Ethereum scaling and infrastructure development that is growing into one of the largest blockchain networks that provides a powerful environment for Decentralized Finance with low gas fees and rapid block generation time. Many established DeFi protocols with high TVL are making their way onto the Polygon platform, including Curve, Aave, and SushiSwap.

Ozys, the team behind Orbit Bridge, is working with existing and new partners to increase Bridge usage and expand bridged asset utilization across different mainnet chains and DeFi ecosystems. The addition of the BSC, HECO and Polygon networks to the existing roster Orbit Bridge supported chains expands the total number and amount of tokens available for use to a significant degree.

The integration of these new chains into 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 these chains to experience the Orbit ecosystem but to also allow Orbit Bridge users and Orbit Chain holders to experience the economic benefits of these chains as well. We are very excited for the new opportunities for our users and users of these chains that these additions will bring. The public launch schedule and supported assets will be announced soon.

We have many new updates and announcements on the horizon, so keep an eye out for what’s to come! 👀

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