Polkadot, Moonbeam, Moonriver Now Connected by Wanchain Bridges

Also, cross-network interoperability platform Wanchain is going to release bridges for Substrate-based assets xcKSM, xcKAR, xcKINT, xcRMRK, xcBNC and xcKBTC.

Wanchain releases three bridges for Polkadot’s networks

According to the official announcement shared by Wanchain, its bridge ecosystem now creates a single interoperability space for Polkadot (DOT) Relay Chain and Substrate-focused DeFi networks Moonbeam and Moonriver.

?️ #Wanchain has deployed new #Moonbeam bridges!

? These bridges connect @MoonbeamNetwork, @MoonriverNW, @Polkadot and @wanchain_org, supporting $GLMR, $MOVR, $DOT and several other #substrate assets.

? https://t.co/wXcSFHiZ3whttps://t.co/GQV9a8SU4C

— Wanchain (@wanchain_org) May 5, 2022

Namely, noncustodial bridge mechanisms are activated between Wanchain (WAN) and Moonbeam (GLMR), Moonbeam and Polkadot (DOT) and Moonbeam (GLMR) and Moonriver (MOVR).

With this update, GLMR, MOVR and DOT assets can be moved via new channels in a seamless and decentralized manner. It advances the liquidity ecosystem, interoperability and performance status for Polkadot-centric DeFis.

Li Ni, VP of business development and operations at Wanchain, highlights that this use case is of particular importance for Wanchain’s stack of cross-network solutions:

Creating solutions to connect the most popular blockchains is key for growing the whole blockchain industry. And yet, nowadays, the enormous number of different public and private blockchains demands just as many unique solutions. There is no one-size-fits-all solution. For that reason, we are now focusing on more sophisticated issues that still need to be solved, such as connecting Layer 0 solutions, especially due to the rising popularity of the Dotsama ecosystem.

Previously, Wanchain has developed similar mechanism for interoperability between Ethereum (ETH) and Bitcoin (BTC), the two largest blockchains.

xcKSM becomes first asset of three blockchains

Derek Yoo, founder of Moonbeam, is certain that this novelty is set to integrate Polkadot, Moonbeam and Moonriver into a cross-network global crypto ecosystem:

The proliferation of chains means that no one interoperability solution can provide connectivity to all destinations. The team at Wanchain have a unique solution providing cross chain transactions and asset transfer to destinations including Ethereum, Bitcoin, and EOS. We look forward to supporting developers building multi chain applications leveraging the Wanchain integration to open new trade routes and new markets of users and assets.

All assets that are included in the new integration leverage Polkadot’s XCM format and XCMP transport protocol, two major advances of Polkadot’s technology.

Kusama-based xcKSM is therefore the first-ever token to benefit from this massive announcement: it can now be seamlessly moved between Moonriver, Moonbeam and Wanchain.