Allbridge announced this Tuesday, January 11, through its Twitter account, that transfers are already active on the Allbridge platform. In addition, he indicated that, with the help of his partner Saber, they are launching a $UST bridge from Terra to Solana.
“We are delighted to enable more stablecoin transfers by launching a new bridge for Terra’s UST algorithmic stablecoin”, he said via an article posted on the Medium platform.
The company explained that, by visiting the Saber platform, users will be able to exchange their bridged assets and actively participate in the life of the Solana ecosystem. In addition, SBR rewards will be enabled for the atUST-CASH farm, incentivizing liquidity providers.
Also read: Axelar Network announced the launch of Axelar Mainnet
About Saber
It is the leading cross-chain AMM for linked assets in Solana, such as stablecoins and wrapped assets. As Solana’s primary cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit cryptocurrencies in a Saber liquidity pool for a passive return on transaction fees, token-based incentives, and finally automated DeFi strategies.
About Allbridge
Allbridge is a simple, modern and reliable way to transfer assets between different networks. It is a bridge between EVM and non-EVM compatible blockchains, which aims to cover L2 solutions and NFT transfers in the future.
According to the company, Allbridge’s mission is to make the blockchain world borderless and provide a tool to freely move assets between various blockchains.
Characteristics:
• EVM and non-EVM chains: a bridge between EVM (like Ethereum, Polygon, BSC), non-EVM-compatible blockchains (like Solana, Terra), as well as L2 – blockchains.
• The fastest transfers: Each transfer involves 2 transactions: in the origin and destination chains. The transfer takes only as long as the given blockchains require to confirm.
• No limits: Allbridge supports native token transfers, as well as the mint-and-burn method, which allows millions of dollars to be transferred at once.
• Reduced Fees and Rewards: The dynamic rate system allows Allbridge participants to reduce transfer fees. Also, 80% of the fees go to ABR token bettors.
• Security: The code has been audited by the industry leader in security, Hacken. The inspection found that the Allbridge code was well protected. There are more audits pending.
• User friendly design: Your goal is to create a simple design that does not require users to read guides and documentation.
