Cross-network bridges are designed to seamlessly move value between heterogeneous blockchains. They make DeFi strategies (trading, yield farming) more flexible and cost-efficient.
Terra supercharges "easiest way to move funds in crypto"
Do Kwon, CEO and co-founder of Terraform Labs, the software development team behind Terra (UST) blockchain, has taken to Twitter to share an update about Terra's bridge ecosystem.
According to his post, Terra users can now transfer value to Avalanche (AVAX), Solana (SOL), Osmosis (OSMO), Fantom (FTM) and Polkadot's DeFi platform, Moonbeam.
With that rich toolkit of integrations, Terra's ecosystem evolves into the easiest way to move funds in the cryptocurrencies segment, Mr. Do Kwon concludes.
Also, he attached a screenshot to display that it is also possible to transfer funds to Harmony (ONE), Injective Protocol (INJ), Secret (SCRT) and Cosmos (ATOM).
One ecosystem, multiple bridges
Answering questions about the technology of this bridge, Do Kwon recommended to treat it like a frontend for multi-blockchain bridge platform Wormhole.
While transacting, UST holders can choose the bridge module to use; Wormhole, Axelar and Shuttle bridge are available simultaneously.
In April 2022, Terra's team made headlines with its super-aggressive Bitcoin (BTC) purchasing initiative.