Celer Network’s cBridge Transaction Volume Doubles to $200M Within a Week

Celer Network's cBridge Transaction Volume Doubles to $200M Within a Week

Layer 2 scaling resolution, Celer Network, has recorded a powerful milestone, as buying and selling quantity on its recently-launched cBridge has surpassed the $200 million mark, a week after reaching $100 million.

Celer’s cBridge Volume Hits $217M

According to knowledge on the Celer’s analytics webpage, the cBridge at present has a whole commerce quantity of greater than $217 million and a transaction rely of 33,143. Over the final 24 hours, almost 2,000 transactions had been made on the bridge price $8.2 million.

The venture announced the feat on Twitter over the weekend, informing that the Celer group can anticipate extra, contemplating the multi-chain bridge was launched simply two months in the past.

As CryptoPotato reported, Celer rolled out the primary model of its cross-chain community dubbed cBridge v1.0 on the mainnet in July. The bridge permits customers to switch property between a number of blockchains together with Ethereum, Binance Smart Chain, Polygon, and Arbitrum at “a fraction of the price, inside minutes as an alternative of getting to anticipate a number of days.”

At launch, the venture famous that other than having fun with low value and well timed transactions, customers will probably be in a position to make the most of the cBridge as a two-way bridge between layer 2 on one blockchain and a completely different layer 1 community with out going by any corresponding root layer.

Celer Rolls Out cBridge 2.0

Meanwhile, two months after launching the primary model of the multi-chain token bridge, Celer launched cBridge 2.0 as an “innovation-packed main improve” to introduce deep liquidity for customers.

Announcing the latest version on September 22, the blockchain venture famous that the cBridge 2.0 options different enhancements for all contributors, together with customers, stakers and validators, LPs, and builders.

Users will get pleasure from extra simplicity, native fuel token unwrapping, entry to extra tokens and chains, and an Insured bridge node Service Level. At the identical time, Liquidity Providers are now not required to run a cBridge node and can get pleasure from easier experiences, excessive liquidity effectivity, incentivized liquidity rebalance, and excessive quality-of-service node scheduling.

Stakers and validators, alternatively, will instantly seize the worth of the cBridge by rewards and also will find a way to take part in governance whereas builders will entry white-label frontend SDK, cross-chain messaging for NFT, and extra.

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