Cross-Chain Asset Swapping Using the Open Canonical Token Standard Is Now Live
Ontology is pleased to announce that bridging support, via Celer Network’s cBridge, has now been successfully implemented for the Ontology EVM. Currently, users can bridge USDT, USDC, ETH, and WBTC via the Open Canonical Token Standard between ETH and Ontology EVM in a fast, secure, and low-cost fashion.
Celer-bridged token addresses on Ontology EVM:
Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. We are focused on building the infrastructure and delivering the tools for Web3. Ontology’s high-speed, low-cost public blockchain is designed to increase privacy, transparency, and trust, aiming to be a public chain that puts the users’ security and privacy front and center, whilst also allowing for interoperability. We recently launched Ontology Ethereum Virtual Machine (EVM) to increase Ontology’s functionality by adding an Ethereum account system, Ethereum transaction types, and Web3 APIs to the existing Ontology blockchain. This will reduce migration costs for developers, allowing them to enter EVM-based ecosystems on Ontology. With lower gas fees and faster block production, it promotes creating seamless connections between the Ontology chain and other EVM-based ecosystems, increasing cross-chain interoperability!
By partnering with Celer to bring bridging support to the Ontology EVM, we benefit from the Open Canonical Token Standard. Upon launch, users can bridge USDT, USDC, ETH, and WBTC, and we will extend to other tokens going forward, outlining a more secure and flexible approach to facilitate interoperability between Ontology and the broader blockchain space.
You can see the bridged Ontology EVM addresses via the new Ontology Explorer.
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions, and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
Follow Celer Network:
Website | Telegram | Twitter | Github | Discord