Celer Network says it will be integrating Kava with their cBridge cross-chain bridging protocol, supporting quick, cost-effective bridging of assets between Kava and other supported chains.
As noted in a blog post, the integration should be able to link cBridge users to a new way to earn with their crypto and “become a major new source of liquidity for the Kava ecosystem.”
As the Kava ecosystem continues to prepare for steady growth next year, onramps for users and capital are a key goal.
Expanding Kava’s intuitive user experience beyond the Kava Platform and into a growing ecosystem will “mean giving users every available option to bring assets to Kava,” the announcement noted while adding that the cBridge should serve a key role in that, “connecting the users of multiple chains with the earning potential of Kava.”
Scott Stuart, CEO of Kava Labs, stated:
“Taking DeFi mainstream will mean making it as easy as possible for users to move their capital between chains and begin earning with it. Integrating cBridge with Kava is hugely exciting because it opens up a whole new set of ways for that to happen.”
The cBridge integration is currently underway and is aimed at “cost-efficient bridging of assets between Kava and a variety of other high-demand chains, including Ethereum, Ethereum Layer-2, and any other EVM-compatible chains.”
Using a combination of a Generalized State Channel and Layer-2 Rollup, Celer Network provides efficient scaling and bridging between networks and layers. The partnership with Kava Labs will focus “initially on integrating cBridge 2.0 with Kava.” In the future, Kava and Celer will explore other opportunities “for cross-chain transfers between EVM chains and Cosmos chains,” the update revealed.
Celer Cofounder Mo Dong remarked:
“As believers in the flourishing multi-chain world, we are excited to collaborate with Kava Labs to bring Celer cBridge onto the Kava network. We hope this initial asset bridging integration can build an onramp for both users and developers to the Kava ecosystem quickly and at low cost. We look forward to more exciting generalized bridging functionality integration in the future.”
As mentioned in the announcement, Celer Network is a layer-2 scaling platform that “brings fast, secure, and low-cost blockchain applications on Ethereum, Polkadot, and other blockchains to mass adoption.”
Celer launched the world’s first Generalized State Channel Network and continues to “push the frontier of Layer-2 scaling with advanced Rollup technology.” Core applications and middleware like cBridge, layer2.finance, and more ecosystem apps deployed on Celer have “attracted large audiences in the DeFi, blockchain interoperability, and gaming spaces,” the update revealed.
As covered, Kava Labs is the main contributor to the Kava Network and a suite of DeFi protocols that are powered by it. The goal of Kava Labs is to “create a secure, scalable home for the future of DeFi through a combination of powerful Layer-1 architecture, institutional-grade security, and user experience-driven design.”