We’re excited to announce that Orbs is now live on Wormhole: a cross-chain bridge between Ethereum and Solana!
In this recent post, we gave a brief overview of the Layer-1 projects cryptoscape and discussed why Solana is the obvious next step for the expansion of the Orbs Network’s ecosystem.
Solana is ranked fourth among all blockchains in terms of DeFi TVL (Total Value Locked). The top three are Ethereum, BSC, and Polygon, all of which have been integrated with Orbs. In addition, Solana has shown amazing growth lately, exhibiting its high-performance features (such as low fees, fast transactions throughput, etc.), making it extremely attractive to new DeFi and NFT projects in the crypto space.
As with any new network integration, the first step is to bridge the ORBS Token in order to make it available on Solana.
To achieve this, the Orbs token has been integrated to Wormhole, the leading bridge to the Solana network.
Wormhole is a secured bridge between Solana and other top DeFi networks such as Ethereum, BSC and Terra. It enables existing projects, platforms and communities to move their tokens seamlessly onto Solana in order to benefit from the high performance features offered by the Solana network.
Consequently, ORBS token holders can now easily migrate their ERC20 tokens to Solana using the following link:
Note: In order to use the Solana Wormhole bridge you will need to set up a Solana wallet and fund it with some SOL tokens for transaction fees. Here is a list of recommended wallets from the Solana official documentation library.
To use the Wormhole bridge, connect your Ethereum and Solana wallets on each side of the bridge, search for the Orbs token in the search bar and approve the transfer, as shown below:
You can find the bridged ORBS token contract on Solana here:
As always, exercise caution when working with 3rd party technologies, educate yourself regarding the risks involved and read all security audits.
Solana is a fast-growing ecosystem, hosting many of today’s most prominent crypto projects. Some of these include DeFi powerhouses such as Serum and Raydium, the largest DEX-AMM currently on Solana with over $1.5B in TVL. In addition, Solana has also become a very popular platform for NFTs.
All of the above factors make Solana a treasure trove for projects looking to solidify their presence in the DeFi space. Consequently, the integration of Orbs with Solana is sure to open up many new and exciting opportunities for the Orbs community.
Expect more exciting news to come soon!
Use of Wormhole, the Solana blockchain and any other platforms and services described above carries significant risk. Such risks may include lack of stability or other technical issues resulting from upgrades of the Solona blockchain to a new version or the launch of its non-beta MainNet. 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.