Building on the vision of creating an affordable and scalable environment for apps, businesses, and the DAO community, we are glad to announce that Wanchain has integrated XFlows bridges to Metis.
These bridges enable direct interoperability between Metis and various other blockchain networks, facilitating seamless asset transfers and liquidity provision.
Introducing Wanchain XFlows Bridges
Wanchain XFlows bridges offer a unique advantage to Metis users, as they provide an avenue for increasing liquidity on the platform. Through the XFlows bridges, users can bridge assets like BTC, ETH, USDT, and USDC from various other networks directly to Metis.
For Metis, users will now be able to bridge each of these assets to and from the following chains:
BTC
- Bitcoin
- Avalanche (as BTC.b)
- BNB Chain (as BTCB)
- Ethereum (as WBTC)
- Metis (as WBTC, Metis bridge)
- Wanchain (as wanBTC)
ETH
- Ethereum
- Arbitrum (Arbitrum bridge)
- Metis (Metis bridge)
- Optimism (Optimism bridge)
- Polygon (Polygon bridge)
- Wanchain (as wanETH)
USDC
- Arbitrum (from Circle)
- Avalanche (from Circle)
- BNB Chain (as Binance-peg USDC)
- Ethereum (from Circle)
- Metis (Metis bridge)
- Optimism (Optimism bridge)
- Polygon (Polygon bridge)
- Tron (from Circle)
- Wanchain (as wanUSDC)
USDT
- Arbitrum (Arbitrum bridge)
- Astar (from Tether, via Polkadot as xcUSDT)
- Avalanche (from Tether)
- BNB Chain (as BUSD)
- Ethereum (from Tether)
- Metis (Metis bridge)
- OKX (from Tether/OKX)
- Optimism (Optimism bridge)
- Polygon (Polygon bridge)
- Tron (from Tether)
- Wanchain (as wanUSDT)
As a result, by simply utilizing the Wanchain bridge, users contribute to liquidity enhancement on Metis. The ease of transferring assets through these bridges creates a frictionless liquidity provision mechanism, making it attractive for users looking to capitalize on the burgeoning DeFi opportunities on Metis.
Empowering the Metis Community at Launch
To bolster liquidity even further, the Metis team has the flexibility to add liquidity using XFlows bridges. For instance, the team can bridge assets like DAI from both Ethereum and Metis to the Wanchain layer 1, where they exist as wrapped assets.
This allows the Metis community to actively participate in providing initial liquidity, thereby contributing to the growth and sustainability of the platform.
Liquidity Expansion Through XFlows Bridges
With XFlows, native-to-native cross-chain transformations of assets like BTC, ETH, USDT, and USDC are made possible without the need to pass through intermediary chains like Ethereum.
The simplified experience enhances user accessibility and usability, providing a smooth onboarding process for new users.
Security Measures and Peace of Mind
Wanchain employs a robust security infrastructure to ensure the safety of cross-chain transactions. Secure multi-party computation (sMPC) and Shamir’s Secret Sharing are utilized to conduct cross-chain transactions securely.
Bridge nodes, an integral part of the system, are permissionless and re-elected monthly, adding an extra layer of decentralization. Additionally, bridge nodes are required to stake assets, overcollateralizing bridged assets to safeguard users from potential hacks or exploits.
Conclusion
The integration of Wanchain’s XFlows bridges represents an exciting development for Metis, opening up possibilities for enhanced liquidity and interoperability. By enabling seamless cross-chain transfers, these bridges create new opportunities for users to provide liquidity across different networks.
As more users recognize the potential of XFlows bridges, Metis looks forward to contributing to the advancement of DeFi technology.
About Metis
Metis Andromeda is an EVM-Equivalent Ethereum Layer-2 focused on bridging the gap between Web2 and Web3. Metis provides users with a secure, decentralized, and scalable easy-to-use network. By combining a robust Layer 2 with on-chain credentials and Decentralized Autonomous Companies (DACs), Metis is building the perfect ecosystem to host open, decentralized and trustless collaboration, secured by Ethereum.
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