Celer Network’s Partner List Grows in January 2022 | Celer’s Cross-Chain Support Starting with BUSD, BNB, MATIC, AVAX, FTM, CELO, & MOV

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The Celer-Aurora partnership is yet another move to realize the Open Canonical Token Standard Celer envisions for its future eco-system.  Cross-chain support for about 14 chains will be allowed.  CELR price reacted well thus far on the news.

cBridge has finally established bridging assistance for Aurora, an Ethereum Virtual Machine scalability connectivity that flows on NEAR Protocol with benefits from the many unique characteristics, such as sharding & speedy finality.

Aurora combines the Ethereum 1.0 development experience with layer-two scalability and speed. When continuing to work with Aurora’s Solidity smart contracts, designers may find recognizable Ethereum tools like Truffle, Etherscan, and Infura useful. Aurora’s foundation token is ETH, and members can view the system using familiar wallets such as Imtoken and MetaMask, ensuring a smooth onboarding process for dApp customers.

Customers would be allowed to connect USDC, WETH, and USDT to a liquidity pool-based model directly for Aurora as well as eleven other chains backed by cBridge as a result of the collaboration. Celer will release liquidity mining programs for such pools once they release in order to bootstrap liquidity. Aurora would therefore join Celer in trying to promote the Open Canonical Token Standard for its own eco-system in the future. The system enables guidelines and chains to simultaneously enlist multiple bridging solutions and also manage cross-chain transmission quotas on various solutions by allocating and adapting transfer caps based on preferences for charges, finality pace, and bridge status updates. Following the standard, Celer’s cross-chain assistance on Aurora would also begin with tokens such as $CELO, $BUSD, $AVAX, $MOVR, $MATIC, $BNB, and $FTM from one‘s corresponding native chains, highlighting a much more safe and stable strategy to facilitating inter – operability between Aurora & the wider blockchain space.

The Open Canonical Token Standard frees initiatives and chains from reliance on a single bridge for cross-chain transfer of assets, allowing them to rapidly adjust to novel interoperability progressions. Celer envisions systematically lowered security issues for the entire blockchain space as even more protocols adopt the benchmark as a standard delivery model in their multichain techniques.

About Aurora

It is an EVM based on the NEAR Protocol that enables developers to implement their applications on a high-throughput, Ethereum-compatible, and future-secure platform with minimal fees for their customers. Electric Capital, Alameda Research, Dragonfly Capital, Pantera Capital, and Three Arrows Capital are among the top venture capital firms that have invested in Aurora.

About Celer Network

It is a layer-two scaling platform that enables the widespread adoption of fast, safe, and low-fees blockchain apps on Polkadot, Ethereum, as well as other blockchains. Celer created the world’s 1st Generalized State Channel Network & is continuing to cross the limits of Layer-two scaling with innovative Rollup technology. Core apps & middleware built on Celer, such as  layer2.finance, cBridge, and other ecosystem apps, have allured a huge audience in the blockchain interoperability, DeFi, and gaming industries.

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