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peaq Integrates with Wormhole for Cross-Chain Liquidity Bridge

source-logo  blockchainreporter.net  + 1 more 23 January 2024 15:13, UTC

In a major move towards expanding cross-chain interoperability, peaq proudly announces its integration with Wormhole. It is a leading blockchain interoperability protocol. This milestone links peaq to a vast network of over 30 Web3 ecosystems. They include major players like Ethereum, Polygon, BNB Chain, and Optimism.

Did someone say liquidity? 🌊

peaq has integrated with @wormholecrypto to unlock liquidity from 30+ blockchains 🚀

Vehicles, robots, and devices running on #DePINs on peaq can now attract liquidity from @ethereum, @Aptos_Network, @base, @solana, @0xPolygon, and many more… pic.twitter.com/nEtTUTHAQi

— peaq (@peaqnetwork) January 23, 2024

peaq Unveils Cross-Chain Bridge for Seamless Liquidity Transfer

The integration with Wormhole marks the introduction of peaq’s first cross-chain bridge. Furthermore, it establishes a seamless connection for value and liquidity transfer between peaq and various ecosystems. This groundbreaking development allows users from networks such as Ethereum, Aptos, and others to effortlessly migrate their liquidity to peaq. Users can now employ DePINs within the peaq system. They can also participate in the Economy of Things on peaq, opening up new avenues for engagement.

For the community, this integration reveals cross-chain communication and value exchange with some of the most prominent blockchains. Users can now actively build and interact with DePINs on peaq. However, vehicles, robots, machines, and devices operating on peaq can receive liquidity from other chains. It allows them to earn Annual Percentage Yield (APY).

peaq Embraces Decentralization to Expand Connectivity with Web3 Networks

peaq recognizes the importance of decentralization in the Web3 space. It has been dedicated to fostering an open, multi-chain ethos. Prior integrations with layer-1 blockchains like Solana and Cosmos showcased this commitment. Now, peaq is integrating with Wormhole. In this way, it extends its connectivity to plenty of Web3 networks. It will foster a more inclusive and interconnected digital landscape.

The integration represents a significant step towards achieving true decentralization. Following the mainnet launch later this year, the bridge further extends its reach. It will connect peaq with the broader Web3 space. This will strengthen Peaq’s position as a leader in the evolving blockchain landscape.


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