In a recent blog we analyzed in detail the Fantom ecosystem and explained why it was chosen as the next chain for the Orbs ecosystem expansion.
We are excited to announce that the ORBS token is now available on Fantom using the Multichain (previously Anyswap) cross-chain bridge!
Bridging ORBS to Fantom using Multichain can be done using the following link:
Multichain supports ORBS bridging between the following networks: Ethereum, BNB Chain, Avalanche and now Fantom, which makes it a powerful tool for Orbs token holders to navigate the DeFi ecosystem.
Multichain - the Bridging Giant
A blockchain bridge is a connection that allows the transfer of tokens and/or arbitrary data from one chain to another. Both chains can have different protocols, rules and governance models, but the bridge provides a compatible way to interoperate securely on both sides. Multichain bridge enables blockchains to communicate and interoperate with each other with no restriction to Ethereum like chains (e.g. BNB Chain), or different Layer 2 chains requiring finality to Ethereum (e.g. Polygon).
Multichain has emerged as one of the leading bridges in the cross-chain field, ranked second in TVL by DeFi Llama in the "bridges" category. It has a rapidly expanding family of chains (currently 36), daily volume well in excess of $539M, TVL of over $6 billion, thousands of daily users and over 1658 integrated projects.
Here are the top 10 Multichain-supported chains by TVL, with Fantom being in the top spot with just under $5B in bridged TVL. This asserts Multichain as a good choice for the Orbs bridge to Fantom and asserts Fantom as one of the most interesting chains currently in DeFi.
Bridge vs. Router
Multichain recently hit a major milestone with the release of their V3 router.
V2 - is the first crosschain service developed by Multichain back in July 2020. A bridge could only ever operate between two blockchains.
Router Model - V3
On June 4th 2021, Multichain launched its Multichain router V3 beta mainnet. The Router enables the following features:
→ Chain A to Chain B ✅
→ Chain A to Chain C ✅
→ Chain B to Chain C ✅
It can work with pre-existing assets on blockchains, by using liquidity pools for those assets.
It can also work with Bridged assets smart contracts, where Multichain is responsible for minting assets on chains.
The Router can include both native and Bridged assets. This allows inclusion of assets that might have been generated with a third party bridge (though we would need to understand what bridges were originally used).
An Important Integration for Orbs
With this latest integration, Orbs is currently available on 7 major infrastructure chains: Ethereum, BNB Chain, Polygon, Solana, Avalanche, Harmony and now - Fantom. In addition, Orbs is integrated with over 30 of the major DeFi platforms and protocols on these chains (such as UniSwap, SushiSwap, PancakeSwap, Kyber Network, 1inch, Alpaca Finance, Beefy Finance, QuickSwap, DinoSwap, Raydium, Trader Joe, Pangolin, with more to come in the near future...).
Orbs' strategic expansion into top L1 and L2 chains is aimed to solidify the ORBS token's status as a multi-chain asset as part of the Orbs 3.0 initiative. This latest integration with Fantom is especially exciting as Fantom is emerging as a top chain for DeFi applications and we expect that it will open the door for more collaborations with top Fantom-native DeFi protocols to showcase Orbs L3 capabilities.
Use of the Multichain cross-chain bridge, the Fantom blockchain and the other platforms and services described above carries significant risk. Digital assets, decentralized finance products are, by their nature, highly risky, experimental and volatile. Such platforms and services may be subject to security and economic risks and exploits and transactions may be irreversible, final and without refunds. Such use carries risk of substantial losses.
Any use of any platform, application and/or services described above is at your own risk and you are solely responsible for all transaction decisions. You should do your own research and independently review any third party services and platforms and any applicable information terms, conditions or policies applicable to such platforms and services.