pTokens to pTokens bridge now LIVE!
The growth of multiple Ethereum Layer 2 solutions, scalability networks and independent blockchain protocols has resulted in an increasingly multi-chain world. Each of these ecosystems presents users with its own peculiarities and opportunities. Being able to seamlessly move liquidity from one ecosystem to another is a need for users and a key element for the further adoption of DeFi platforms.
Today, we’re happy to launch the pTokens to pTokens bridge for BTC and PNT! A key feature of pNetwork v2, the pTokens to pTokens bridge enables the transfer of assets using the most efficient cross-chain routes.
With the introduction of pNetwork v2, pNetwork has become an all-around cross-chain routing protocol. An open-source protocol grounded in a unified system, pNetwork v2 enables the efficient transfer of liquidity and data messages across networks, securely routed by pNetwork nodes. This results in efficient cross-chain operations and communications from any blockchain to any blockchain.
pTokens to pTokens bridge
The pTokens to pTokens bridge unleashes the potential of pNetwork v2 even further by powering direct transfers from one host blockchain to another.
Users can now bridge assets across all supported blockchains in a host-to-host manner, without the need to go back to the origin blockchain. It’s seamless, fast and cost-efficient!
This new feature results particularly interesting for assets that are available on various ecosystems with custom use-cases that allow these communities to leverage the token’s full potential.
That is, for example, Bitcoin. Once Alice and Bob have wrapped BTC to leverage opportunities in the DeFi ecosystem, they are exposed to a large and rapidly changing range of platforms that enable for these assets to be swapped, staked, lent and much more. The pTokens to pTokens bridge lets them easily leverage these opportunities on a variety of networks by powering the direct host-to-host transfer of pBTC across all of the supported host blockchains. As an additional perk, they save time and money!
Similarly, this feature benefits pNetwork’s own PNT in terms of usability and availability to a larger market. As staking and voting functionalities of PNT are expanded to more ecosystems via its multi-chain DAO, making cross-chain transfers of PNT more easily accessible improves the experience of the community and welcomes new community members. In line with this, direct deposits/withdrawals of PNT compatible with pNetwork v2 are available for Ethereum, BSC and Polygon to/from major exchanges including Binance and Huobi Global.
The pTokens to pTokens bridge aims for the flagship feature of pNetwork to be evolved into a seamless movement of liquidity for users to take advantage of DeFi opportunities across multiple blockchains. This direct host-to-host token bridge paves the way for the further development of peculiar cross-chain features specific to assets with various representations such as BTC or USD.
Starting Today, the pTokens to pTokens bridge enables frictionless transfers of BTC across Bitcoin, Ethereum and Algorand and of PNT across Ethereum, Polygon and Arbitrum! More supported blockchains coming soon.
Currently available for BTC and PNT, the feature can be enabled for any v2-powered asset, including stablecoins and project-tokens looking to expand their reach. In order to be eligible, a pToken needs to be integrated on at least two host blockchains and its bridges need to be supported by pNetwork v2.
New pTokens (v2!) dApp
What’s more? pNetwork v2 features are now available on the official pTokens dApp!
While the interface is as simple and clear as always, the behind-the-scenes routing is now fully powered by pNetwork v2. This serves for easily accessible cross-chain transfers powered by a more robust and mature network.
While some bridges are still running on pNetwork v1, the upgraded pTokens dApp is already available for all bridges powered by pNetwork v2 and it will auto-magically update to support new assets as soon as the remaining v1 bridges are migrated to v2.
(All v1 bridges will still be available on the Legacy dApp. The Legacy dApp website is still maintained and secured.)
New pTokens.js library
Along with the pTokens to pTokens bridge and the new v2-powered pTokens dApp, the new pTokens.js library is here!
The all-new pTokens.js is a JS library that allows interoperability with the pNetwork protocol for any external dApp or wallet. Once integrated in the third-party platform, it enables users to easily interact with any pTokens bridge without ever leaving the platform itself.
pTokens.js is a crucial improvement for all projects that are already using or want to integrate the pNetwork protocol within their dApp or wallet. Third-party projects can retain ownership of their users, while improving the user journey as DeFi enthusiasts would be able to leverage pNetwork’s cross-chain features without ever leaving the origin dApp/wallet.
Compared to the previous version, the new v2-compatible library represents an advancement both in terms of features and efficiency. Technically speaking:
- It’s entirely written in Typescript
- It has object-oriented design, implementing builder pattern to ease objects creation
- It permits host-to-host swaps, unleashing the pTokens to pTokens bridge feature.
From a pNetwork community perspective, the pTokens.js library represents a powerful tool that facilitates the accessibility of the pTokens bridges from entry-points alternative to the official dApp. In other words, this opens up the pNetwork protocol to a larger audience who might use it without even knowing it!
The pNetwork is the underlying architecture for pTokens, a cross-chain system enabling assets to move frictionlessly from one blockchain to another, and pNetwork Portals, powering cross-chain interoperability between smart contracts. Currently, pNetwork enables transparent interaction among major blockchain protocols, including Bitcoin, Ethereum, Binance Smart Chain, and Algorand. pNetwork is the progressively decentralized governance layer operating the pTokens bridges and pNetwork Portals. It is home to the pNetwork DAO and the ecosystem’s governance token PNT.
Link to pTokens dApp: https://dapp.ptokens.io/