APYSwap, a protocol for the decentralized exchange of shares in tokenized vaults, announces a bridge to the Solana ecosystem. This bridge aims to extend the cross-chain interoperability of APYSwap to non-EVM blockchains and solve certain challenges in bridging Ethereum.
From the beginning, the APYSwap bridge supports the token exchange between Ethereum, Solana, Binance Smart Chain and Huobi ECO Chain. Although currently only APYS tokens can be exchanged, this can be done from any to any blockchain in the supported list.
APYSwap is not the first bridge to Solana, there is also a wormhole bridge that was recently launched. Wormhole is a great product that currently only supports token transfers between Ethereum and Solana.
According to APYSwap, “After analyzing the current wormhole design, we found that there was plenty of room for the competition. Our solution is characterized by a more modular structure, which enables new blockchains to be added quickly and reliably. “
Another important difference in the design of the APYSwap bridge is the ability to move oracle consensus in the chain. This makes their bridge implementation much more transparent than that of the competition. This expanded and transparent accountability also opened up the possibility of oracle specialization within the system. It is not necessary that all oracles monitor all block chains. Any oracle or validator can choose which blockchain to process and be compensated accordingly.
Regarding the current bridge, Andriy Velykyy, CEO of APYSwap said: “The current implementation of the bridge initially supports the APYS token as a proof of concept. We are currently working on developing a modular version of the bridge to support the Solana ecosystem and resources. “
APYSwap has planned for this product to be completed within three months of its launch in late May. The modular bridge offers the following features for those who want to use an efficient Solana bridge solution:
- On-chain consensus that provides transparency to users.
- Molarity, which allows blockchains to be added and removed at any time.
- Web APP with user interface for easier user access.
- Bridging LP tokens between chains that make this possible
- A marketplace that enables cross-chain agriculture with incentives.
For more information on APYSwap’s pioneering solutions, visit the website.
Disclaimer: This article is educational and does not constitute financial advice. Please consult your financial advisor before purchasing digital assets.
Image obtained from Pixabay
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