neonewstoday.com
Forthewin Network has revealed its own bridging solution as a core component of its planned expansion to blockchain networks that adopt the Ethereum VM. The FTW Bridge will launch with Neo and Polygon support, and will be used to power ftwNEO, a wrapped bNEO asset with NEP rewards.
The team has already passed several milestones on the path to making Forthewin a multi-chain platform in 2023. EVM versions of the Swap and Farm tools were deployed on the Polygon TestNet, and a website UI upgrade has made it possible to ensure a consistent user experience across supported blockchains.
FTW Bridge is designed as an alternative to Poly Network for bridging between Neo and supported EVM networks. Several advantages were noted by Forthewin, including healthier platform tokenomics and flexible token bridging.
By transferring bNEO tokens to EVM networks with the FTW Bridge, users receive ftwNEO. Unlike the original asset or other Neo-based wrappers, ftwNEO provides a yield in NEP tokens rather than GAS. These rewards are received on the destination blockchain rather than Neo N3, intended to expose Neo yields to new markets.
This is achieved by converting GAS earned from bNEO held in the Neo side of the bridge to NEP, which is then distributed across supported EVM networks. It should be noted that NEP reward rates may differ between different networks.
Polygon is the first EVM-compatible blockchain to be integrated with Forthewin products; however, others may be supported in the future. A MainNet launch of the FTW Bridge will be announced following code audits and pending community feedback.
Users can begin testing the FTW Bridge, ftwNEO, and other EVM-based tools offered by Forthewin Network on its test website:
https://test.forthewin.network/