SubBridge Opens HRMP Cross-Chain Channel with Bifrost, Supporting BNC and ZLK Cross-Chain Transmission
SubBridge opens a two-way HRMP channel between Khala (Phala’s canary network) and Bifrost NOW! This enables cross-chain transmission between Khala and Bifrost. Users can freely transfer BNC (Bifrost Token) and ZLK (Zenlink Network Token) from Bifrost to Khala through SubBridge or reverse transfer of related assets.
Diverse Parachains Assets Usage Scenarios via SubBridge:
- It is convenient for users to quickly and easily realize one-stop asset exchange with Bifrost on SubBridge;
- Provide liquidity including PHA trading pairs for Bifrost and Zenlink’s DEX thus becoming a liquidity provider;
- Enrich the usage scenarios of PHA. Users who choose to stake PHA on the DEX of Bifrost and Zenlink can enjoy the benefits of staking while realizing risk hedging of staked assets, low-interest lending, and free liquidity.
SubBridge is a cross-chain assets router launched by Phala Network, which aims to bridge parachain, EVM and other chains, realizing the seamless bridge between the Polkadot and other ecosystems. Currently support Khala, Karura, Moonriver, Bifrost, Ethereum, and integrate PHA, KAR, MOVR, BNC and ZLK parachain assets.
What is Bifrost
Bifrost is a web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. By leveraging on the cross-consensus message (XCM) it can provide cross-chain liquid staking services for multiple chains.
Bifrost’s mission is to provide standardized cross-chain interest-bearing derivatives for Polkadot relay chains, parachains, and heterogeneous chains bridged with Polkadot. Furthermore, by aggregating over 80% of PoS consensus chains’ staking liquidity through cross-chain derivatives, our protocol lowers users’ staking threshold, increases the multi-chain staking ratio, and improves the application of the ecosystem interest base, by creating a three-way positive cycle for the StakeFi ecosystem by empowering users, multi-chains, and ecosystem applications.
Bifrost has raised over USD 2M from top-tier venture capital firms by the likes of NGC, SNZ, DFG, CMS and other institutions. In addition to being an early receiver of a Web3 Foundation Grant, Bifrost is also a member of the Substrate Builders Program and the Web3 Bootcamp.
Zenlink is an underlying cross-chain DEX protocol based on Polkadot and is committed to becoming the DEX composable hub of Polkadot. By accessing the ultimate, open, and universal cross-chain DEX protocol based on Substrate, Zenlink DEX Protocol enables all parachains to build DEX and achieve liquidity sharing in one click. Zenlink DEX Protocol includes Module, WASM, and EVM implementations, which are flexible and adaptable, allowing for customizable compositions and interoperability with different DeFi modules.
In addition, the Zenlink DEX Aggregator connects all DEX DApps on Polkadot and aggregates liquidity, providing a low slippage trading experience for users. Zenlink DEX Composable Hub enables developers to access the Zenlink DEX Module to build their own unique DEXs, forming a DEX composable hub for the Polkadot ecosystem.
Phala Network tackles the issue of trust in the computation cloud.
By organizing a decentralized network of computation nodes around the world, it offers high-performance services without relying on any cloud vendor. Phala workers run the programs in Secure Enclaves, a privacy technology already embedded into modern processors, enabling versatile and confidential execution. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.