Terra's Cross-Chain Bridge Now Supports Solana, Avalanche, Fantom, Moonbeam, Osmosis

Terra's Cross-Chain Bridge Now Supports Solana, Avalanche, Fantom, Moonbeam, Osmosis

 

Terra Bridge, the cross-chain bridge protocol, now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche, according to Terraform Labs CEO Do Kwon. The "easiest way to move funds in crypto," the Terraform Labs CEO explained in a tweet.

5 new chains have been added to Terra Bridge

 

• On April 12, 2022, Terraform Labs co-founder Do Kwon told his 352,800 Twitter followers that Terra Bridge, otherwise known as bridge.terra.money, now supports five new blockchain networks.

 

• Cross-chain bridge technology has come a long way over the last 12 months, and in mid-September 2021, there was over $7 billion in total value locked (TVL) across several bridges to Ethereum. Today, cross-chain bridges to ethereum hold $19.51 billion in value across over a dozen blockchain networks.

 

• Bridge.terra.money now supports Avalanche, Solana, Osmosis, Fantom, and Moonbeam Network. The easiest way to move funds in crypto, "Do Kwon" said on Tuesday. The Terraform Labs co-founder also shared a screenshot of the protocol in action.

 

• With the addition of the newly added Solana, Fantom, Moonbeam, Osmosis, and Avalanche networks, bridge.terra.money also supports Ethereum, Binance Smart Chain (BSC), Harmony, Secret, Injective, Cosmos, and Polygon.

 

• The Terra (LUNA) network has been a prominent fixture in decentralised finance (Defi) in recent times, as the network is the second-largest blockchain in terms of Defi TVL, according to defillama.com stats. The value locked in Terra today is $26.14 billion, or 12.52% of the $208 billion locked in Defi on April 12.

 

• Anchor is the largest Defi protocol on Terra with $14.38 billion locked, and Lido is the second-largest Defi protocol with $7 billion locked. Terra (LUNA) is also the fifth-largest smart contract platform coin by market capitalization, with $29.8 billion.

 

• Anchor recently added support for the Avalanche (AVAX) blockchain, and the Luna Foundation Guard (LFG) recently explained that it planned to purchase $100 million in AVAX, in addition to the non-profit’s bitcoin (BTC) reserves.