Moonbeam Routed Liquidity is all systems go, enabling the flow of billions in Wormhole liquidity into Polkadot.
17 Aug 2023, 13:06
🚀 Moonbeam Routed Liquidity is all systems go, enabling the flow of billions in Wormhole liquidity into Polkadot! We're excited to announce the launch of MRL & give parachains access to external assets & users, starting with HydraDX!
Until today, there was no easy way for parachains on Polkadot to tap into assets and users in other ecosystems without having their own independent integrations with bridge providers. Now, HydraDX users can bring in crypto liquidity from ecosystems like Ethereum, Solana, Polygon, or Avalanche (without needing to create a Moonbeam account or interact with Moonbeam directly) through a simple interface provided by Carrier, a powerful token and NFT cross-chain bridge for Web3 natives. And it doesn’t stop there. Any parachain can now access bridge liquidity through a cross-chain (XCM) connection with Moonbeam.
For anyone who doesn't already know, Moonbeam Routed Liquidity is a one-click feature for summoning bridge assets from anywhere in Polkadot and is made possible by the general message passing (GMP) precompile, implemented in a recent runtime upgrade & other interoperable capabilities already available on Moonbeam. It works the other way, too: with this launch, many parachains are able to bring their native tokens to Ethereum-based exchanges for the first time. Wormhole is the first to support MRL, with more bridging providers to follow.
For ALL the details, read the announcement: https://moonbeam.network/announcements/moonbeam-unlocks-billions-wormhole-liquidity-solving-fragmentation-polkadot-ecosystem/
🛠️ Developers, if you want to enable MRL from your parachain, you’ll need to connect to Moonbeam via XCM and enable remote transactions. Reach out to the Moonbeam development team to get started: https://moonbeam.network/contact/
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