Feb 14, 2022 15:00 JST
Moonstake Collaborates with deBridge to Enable Cross-chain Bridge for Assets and NFTs
SINGAPORE, Feb 14, 2022 - (ACN Newswire) - Today, Moonstake is happy to announce our collaboration with the innovative cross-chain interoperability and liquidity transfer project deBridge. Through this collaboration, Moonstake will become a validator for the deBridge network that facilitates seamless bridging of any arbitrary asset and data, and NFTs across a wide range of blockchains including Ethereum, Binance Smart Chain, HECO, Arbitrum, and Polygon initially, with many more to come. Their infrastructure is enabling interoperability not only for assets and data, but also for NFTs and Metaverses.
Moonstake launched its staking business in 2020 with the aim to create the largest staking network in Asia. Since then, it has developed the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) with support for over 2000 cryptocurrencies. Currently, Moonstake supports 14 high-demand staking coins: Cosmos, IRIS, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality, Orbs, IOST, TRON, and Shiden. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1.8 Billion and by June 2021, Moonstake was the third best staking provider in the world out of 15,000 staking providers worldwide. In March 2021, the company entered DeFi with Muse.Finance, a DeFi platform, and will continue to expand into the DeFi business.
deBridge is a cross-chain interoperability and liquidity transfer protocol that allows truly decentralized transfer of arbitrary data and assets between various blockchains. The cross-chain intercommunication of deBridge smart contracts is powered by the network of independent validators elected by deBridge governance. These elected validators, which now includes Moonstake through this partnership, run a full node of each supported blockchain and the deBridge node to perform validation of cross-chain transactions that pass between smart contracts of the deBridge protocol in different chains.
deBridge commenced during the Chainlink Global Hackathon where the team strived to solve the urgent problems of transferring data and liquidity between blockchains and the lack of a single decentralized standard for bridging assets. The project was awarded the grand prize, taking first place among more than 140 teams worldwide.
On the collaboration, Founder of Moonstake, Mitsuru Tezuka, says: "As one of the world-leading staking providers, Moonstake is happy to support deBridge in building a truly decentralized cross-chain interoperability framework for blockchains, protocols, and applications as an official validator. We are very impressed with deBridge technical prowess and strong vision for not only technological innovation but also security for users, both of which are also key values that align with the vision of Moonstake to enable users the most advanced, safe, and friendly experience with digital assets.".
Alex Smirnov, CEO of deBridge, comments: "Our team is thrilled that Moonstake will be a part of deBridge's validator network to facilitate security and reliability. It's important for us to have experienced validators when we're building cross-chain infrastructure, and we're looking forward to working with Moonstake moving forward.
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.
Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnerships have been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.
With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 1 billion. https://www.moonstake.io/
deBridge is a cross-chain interoperability and liquidity transfer protocol that allows truly decentralized transfer of assets between various blockchains. The cross-chain intercommunication of deBridge smart contracts is powered by a network of independent oracles/validators elected by deBridge governance. deBridge protocol is an infrastructure platform and hooking service which aims to become a standard for:
- Cross-chain composability of smart contracts
- Cross-chain swaps
- Bridging of any arbitrary asset and data
- Bridging of NFTs
Sectors: Crypto, Exchange
Copyright ©2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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