Komodo launches on-chain bridge between Ethereum and Binance Smart Chain

Atomic swaps device Komodo has launched a brand new model of AtomicDEX, a non-custodial multi-coin pockets and atomic swap-powered DEX rolled into one app, that includes the business’s first non-custodial, AMM-free 1:1 bridge.

The DEX permits holders and merchants to have the identical asset on two or extra protocols (e.g. BEP-20 AAVE and ERC-20 AAVE), with the flexibility to seamlessly and trustlessly switch between them.

The large DeFi downside

Beforehand, swapping of the identical crypto-asset 1:1 throughout blockchain networks required a centralized alternate or a trusted wrapped token gateway, however now it’s handy to switch in a trusted method with atomic swaps. 

“Our cross-chain bridge is a significant enchancment to the crypto expertise for each HODLers and merchants. It provides you the liberty to maneuver property seamlessly between blockchains at any time, all whereas having 100% self-custody of your funds,” acknowledged Komodo CTO Kadan Stadelmann.

The discharge of AtomicDEX v0.5 eliminates the usage of a mint/burn perform for wrapped tokens like different cross-chain bridges and allows cross-chain and cross-protocol switch of native property that exist already on their respective networks. 

Serving to Ethereum and Binance Good Chain customers

That is particularly helpful for customers who need to switch property between Ethereum and Binance Good Chain (each protocols supported on AtomicDEX) as a way to begin utilizing DeFi purposes constructed particularly for these ecosystems.

With AtomicDEX, Consumer A is buying and selling trustlessly and straight with Consumer B from their respective non-custodial wallets.

One main improve with AtomicDEX v0.5 is the addition of Easy Buying and selling View. This new interface gives a sensible buying and selling engine with real-time value feed data to the person, making certain most simplicity when buying and selling. 

This launch additionally introduces an choice for the person to customise the variety of accepted block confirmations when buying and selling – opening up the chance for faster atomic swaps that also include a excessive degree of safety and trustlessness.

As Komodo’s DEX know-how steadily advances, AtomicDEX has seen an uptick in ecosystem enlargement in current months and is proving to be the interoperability connector for all blockchain protocols.

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