Back to the list

Celer Partners with r/CryptoCurrency to Bridge Moons to Arbitrum One

source-logo  cryptonewsland.com 12 February 2024 12:13, UTC
  • Celer Network enables seamless transfer of Moons between Arbitrum Nova and Arbitrum One.
  • This bridge provides access to higher liquidity, DeFi applications, and multisig support.
  • The community can enjoy increased voting power in snapshot governance for active user participation.

In a significant move, Celer announces a strategic partnership with r/CryptoCurrency to facilitate the bridging of Moons to Arbitrum One. This collaboration aims to enhance the utility and accessibility of Moons, providing users with a seamless experience between different networks.

The multidirectional bridge, scheduled to go live by March 20, 2024, empowers users to effortlessly transfer Moons between Arbitrum Nova and Arbitrum One. This flexibility opens up new possibilities for the community, ensuring they can engage with Moons on their preferred network.

Several compelling reasons support the decision to bridge Moons to Arbitrum One. Arbitrum One boasts significantly higher liquidity, with a TVL of $2.76 billion compared to Arbitrum Nova’s $30 million TVL. Additionally, the popularity of Arbitrum One as opposed to Nova minimizes the risk of potential shutdowns and introduces Moons to a broader range of DeFi applications.

One notable advantage is the support for multisig on Arbitrum One, presenting an opportunity for enhanced community fund management by u/TheMoonDistributor.

While Moons distributions and tipping will continue on Nova to maintain low gas fees, users bridging to Arbitrum One gain access to increased voting power in snapshot governance. This ensures that users can actively participate in decision-making processes while utilizing the benefits of both networks.

The announcement has sparked enthusiasm within the Moons, crypto Reddit, and the broader crypto community. Members are expressing their excitement and anticipation for the upcoming enhancements in the Reddit CryptoCurrency thread.

Celer and r/CryptoCurrency remain committed to evolving the Moons ecosystem, continuously exploring new partnerships and utility features. The community is encouraged to stay tuned for further developments as these initiatives unfold.