Theta Network
Published in

Theta Network

Meter Passport launches Theta / Ethereum bridge on Theta Mainnet

Meter Passport, a leading cross-chain bridge connecting blockchains like Ethereum, Avalanche, and Binance Smart Chain (BSC), has now added support for Theta blockchain — for the first time allowing tokens to be moved between Theta blockchain and other leading blockchains.

For instructions on how to get started using the Meter Passport bridge, see the documentation here.

Theta offers an Ethereum-compatible dev environment where DApps (for trading, lending, DAOs, stablecoins and many more) can port over and run seamlessly. Ethereum developers focused on entertainment and media service offerings can now easily move to Theta and start building. With EVM-Compatible smart contract support, streamers and content creators can find innovative ways to access decentralized funding.

Built on top of the recently released Theta/Ethereum RPC API Adapter, the Meter Passport bridge can be used to move any TFUEL or any TNT20 token on Theta blockchain to Ethereum, BSC, Avalanche, or Meter (THETA transfer support to be added later due to technical reasons). An immediate benefit is this means you can move TFUEL, or a TNT20 token like TDROP to Ethereum and create a liquidity pool on Uniswap, or integrate it into a popular DeFi protocol. This functionality works to move assets from other chains to Theta as well; one initial project in the works is for ETH-based stablecoins to be issued on Theta blockchain, enabling trading against stablecoins on the ThetaSwap DEX.

Meter Passport is quickly becoming a premier cross-chain bridge in crypto with support for Ethereum, Avalanche, and BSC, and is the official cross-chain bridge for both Moonriver (Kusama/Polkadot) and Ampleforth. Meter is also backed by leading crypto funds like Pantera Capital and DHVC. This made Meter an ideal candidate for the first cross-chain bridge for Theta blockchain.

We expect Theta cross-chain support to offer several benefits to the Theta Ecosystem:

  1. Crypto assets from key blockchains can now seamlessly access the large Theta user base through DeFi protocols, bringing new capital into the Theta ecosystem
  2. Thetaswap DEX will gain access to stablecoins enabling deeper liquidity and ease of trading on Thetaswap DEX
  3. Lending protocols like AAVE and Compound can allow Theta users to access funds without reducing their exposure to TFUEL or TNT20 tokens
  4. Ethereum developers focused on entertainment and media service offerings can now more easily develop on Theta and start building with full access to interoperability across networks

--

--

--

Next generation video delivery powered by you

Recommended from Medium

Trader Joe Expands Chainlink Price Feed Integration to Bring JOE to Banker Joe Lending

Partnership Announcement: Moniwar x Onebit Venture

Latest MEGASET Press Release From DIGITAL JOURNAL

What Is Ethereum For Dummies

CRODO.IO platform — project ambassador program

Hypersphere and LedgerPrime Write the First DOT Option

What Are Liquidity Pools in DeFi: Liquidity pools are one of the foundational technologies behind…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Theta Labs

Theta Labs

Creators of the Theta Network and THETA.tv — see www.ThetaLabs.org for more info!

More from Medium

Ledger Nano Guide #3, Activate Liquidity Pool Staking on TBILL.io

How to convert RFUEL ERC-20 tokens to BEP-20 tokens — Step by Step Guide

How to Send & Receive Assets Using the CelsiusX Bridge to Polygon

Ankr Staking distributes first batch of rewards for liquid crowdloans