Thursday, 12 May 2022 10:00 AM
Product Announcements
SINGAPORE / ACCESSWIRE / May 12, 2022 / Social investment pioneer Zignaly has long advocated for blockchain composability, with ambitions to make highly scalable and efficient chains accessible to the entire crypto ecosystem. In support of this mission, Zignaly has begun development on what it calls "The Bridge," which will create what it claims will become, "nothing less than the world's greatest crypto bridge".
DeFi users know most existing crypto bridges are poor, at best. Either they have major security issues, outright bugs that put assets at risk, dubious origins and control levels, or other stability problems. Zignaly believes there's a better way, based on both insights culled from a wide range of crypto users and peers in the industry as well as its own experiences using bridges, so it's seeking to put something better into the world. That something better is The Bridge.
Powered by Zignaly's native crypto token ZIG, The Bridge will make hassle-free cross-chain asset transfers a breeze not just for ZIG holders, but for the broader crypto community at large. What initially started as an ERC20-to-BSC bridge for ZIG coin has matured, now supporting four chains; ERC20, BSC, MATIC, and recently the SOL chain.
Polygon is highly attuned to their developer community in terms of compatibility and ecosystem support. Its scalability and seamless compatibility with Ethereum Virtual Machines gives users hundreds of protocols to choose from with minimal fees. Uniswap, one of the top DEXes in existence, recently made the move to the Polygon blockchain, adding nearly $130 billion to their TVL.
The Bridge roadmap will be rolled out in three core phases:
Testing - Phase 1 of the rollout plan opens up access to ZIG holders everywhere, who will now benefit from amazing APRs on leading farming platforms and DEXes. Zignaly's chain-agnostic approach is at the forefront of its strategy, and the platform is committed to making The Bridge compatible even with blockchains of the future.
Adoption (Onboarding ZIGPad Partners to The Bridge) - Phase 2 will see The Bridge made accessible to our ZIGPad launch partners, which will empower their communities and eliminate the research and development costs for their projects.
Full Composability - Zignaly aims to open The Bridge to all projects across the industry in Phase 3, with the bandwidth to add chains rapidly scaling. This final phase marks a key milestone on the paty to making blockchain composability a fundamental feature of the ecosystem.
The Bridge will be a truly revolutionary leap forward for the crypto industry. Instead of wrapping coins for the destination chain, projects will create a version of their token on different blockchains, which will add liquidity to The Bridge. The Solana implementation was created during a period of instability, which helped Zignaly create a robust system capable of handling any errors. In light of recent high-profile security breaches in prominent bridges, security is one of Zignaly's top priorities. Several internal audits have been completed, and Zignaly will be engaging third parties ahead of Phase 3 of the roadmap.
The Bridge's technology portends to be revolutionary. It will give users peace of mind around security and trust, and the flexibility they need when interacting with an ever-growing cryptocurrency ecosystem. It will soon be easier than ever before to move tokens between different blockchains, with a simplified UI, expanded composability, and robust security and reliability.
About Zignaly
With over 430,000+ users globally, the Zignaly platform and marketplace are leading the Social Investing revolution, by connecting regular crypto investors with the world's top, proven expert traders and fund managers in a win/win profit-sharing model. It's expert-managed, passive crypto investing for the rest of us. Zignaly's multiple offerings also feature uniquely powerful open doors for Investors looking for full-fledged Portfolio Management services, staking vaults, IDO participation via the ZIGPad, NFT raffles, and revolutionary new Bridge solution.
Media Contact:
Noah Mathis
Energent Media
[email protected]
SOURCE: Zignaly