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AirDAO launches Ethereum cross-chain bridge for its Layer 1 network


www.theblock.co 03 November 2022 14:15, UTC
Reading time: ~2 m

AirDAO, the decentralized autonomous organization that governs the Ambrosius Layer 1 network, launched an Ethereum bridge for its blockchain ecosystem.

It's the second cross-chain bridge enabled by AirDAO on the Ambrosius chain and will enable users to move supported crypto tokens from the Ethereum network to its own. The ecosystem already has a BNB Smart Chain bridge.

The cross-chain bridges are among a slew of new features released by AirDAO for the Ambrosius chain. The DAO has also enabled token swaps via a decentralized exchange called FirepotSwap and staking.

Cross-chain bridges have become targets of sophisticated cyberattacks in recent times. Hackers have stolen over $2.5 billion from cross-chain bridges in the last two years.

These incidents currently account for more than half of all DeFi-related crypto thefts, leading to debates about improving bridge security. Some of the major bridge hacks include the Ronin and Poly Network attacks that saw a combined total of over $1 billion stolen.

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