Acala and Karura, DeFi networks of Polkadot and Kusama blockchains, have joined Wormhole ecosystem of L1s
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Two flagship decentralized finance (DeFi) infrastructure designs of Polkadot and Kusama ecosystems, Karura and Acala, will be connected to Wormhole, the world’s largest cross-chain bridging platform.
Acala, Karura join Wormhole ecosystem
According to the official announcement shared by the Polkadot (DOT) team, Acala and Karura DeFi networks will be integrated by Wormhole bridging infrastructure in the near future.
??️ Karura & Acala are integrating with @wormholecrypto, making the parachains the cross-chain liquidity gateway into @Polkadot and @KusamaNetwork for @avalancheavax, @BNBCHAIN, @ethereum, @FantomFDN, @OasisProtocol, @0xPolygon, @solana, and @terra_money!https://t.co/FPwtS87cMQ
— Karura – DeFi Hub of Kusama (@KaruraNetwork) March 30, 2022
As such, both Acala and Karura will be connected to the world-leading ecosystem of L1 platforms, including all smart contracts majors Ethereum, Terra, BNB Chain (previously Binance Smart Chain), Solana, Avalanche and so on.
Currently, the bridge surpassed $3.6 billion in total value locked (TVL) after the latest additions to its infrastructure. Besides interoperability, the two networks will benefit from Wormhole’s consensus abstraction, speed and upgradeability mechanics.
This integration also boosts interoperability between Substrate and EVM. Also, it is set to allow aUSD minting on both Acala and Karura, with DOT, ACA, KSM, KAR, LDOT and LKSM as collateral.
Unlocking new liquidity and yield opportunities for aUSD
The integration makes DeFi activities on both platforms more profitable as USDC, ETH, SOL, AVAX or LUNA tokens will be accepted natively in Karura and Acala.
More yield opportunities and stablecoins will also be avaliable for the clients of Polkadot- and Kusama-based protocols.
As covered by U.Today previously, Acala together with heavy-hitting VCs launched an unmatched $250 mln ecosystem fund to supercharge tech development and promotion of the protocols that use aUSD stablecoin.
Source: https://u.today/polkadot-kusama-to-access-global-decentralized-bridge-as-acala-karura-join-wormhole