Stakin Active Validator on deBridge

deBridge

Jan 19, 2022

3 min read

Stakin Active Validator on deBridge

We are delighted to announce that Stakin is part of deBridge's validator set on Mainnet. deBridge offers a decentralized standard for cross-chain interoperability and liquidity transfers to scale up protocols. With deBridge, users and developers can bridge any arbitrary assets and data, and build new types of cross-chain interoperability applications with their decentralized infrastructure.

Stakin’s address for deBridge is: 0x59ce95b8955f0e7be128d5af77161b36f6084214

deBridge protocol allows for the decentralized transfer of assets and data between different chains, thus functioning as a bridge and infrastructure protocol. A network of independent oracles/validators chosen by deBridge governance powers the cross-chain intercommunication of deBridge smart contracts.

Here’s how it works. The deBridge Protocol allows transfers between different blockchains via locking and unlocking the asset of the native chain and issuing/burning the wrapped asset (called deAsset) on secondary chains  and (L2s).

The deBridge Protocol is an infrastructure platform with the aim of becoming the set standard for cross-chain interoperability and composability of smart contracts, cross-chain swaps, bridging arbitrary assets, interoperability, and bridging of NFTs. The protocol will beis managed by a decentralized autonomous organization (DAO), which allows all token holders to have a say in future protocol parameters, treasury management, and participation in future growth.

The deBridge project was initiated out of the Chainlink Global Hackathon, where the team set out to solve the critical problem of transferring data and liquidity between blockchains, as well as the lack of a single decentralized standard for bridging assets. The project won the main prize and came in first place out of more than 140 teams from around the world.

Stakin, as a trusted and experienced validator for many other projects such as Cosmos, Polkadot, Solana, Ethereum, Near and Polygon, is thrilled to be able to support the deBridge network as a validator. We look forward to connecting all these blockchains and ecosystems together and to promote deBridge within the communities as a key cross-chain solution.

The company has been supporting deBridge since 2021 as a testnet validator. Testnet is open to all if you would like to try out deBridge: https://testnet.debridge.finance/. The network already supports transfers between BSC, Arbitrum, Ethereum, Polygon, Heco, with many more blockchains to be integrated soon!  

About the validation, Edouard Lavidalle CEO of Stakin says:

Blockchains have been growing in siloed ecosystems in the past few years. If we are to reach true mainstream blockchain adoptions, we need seamless cross-chain transactions where it is possible to transfer both value and data.

About the collaboration, Alex Smirnov, CEO of deBridge says:

In preparation for deBridge's mainnet launch, Stakin has become one of the initial members of the deBridge validator network, bringing security and reliability to the deBridge infrastructure. We're excited about the prospect of working with Stakin on multi-chain liquidity and cross-chain interoperability in general, and we look forward to exploring other possibilities.

While some ecosystems enable cross-chain interoperability within the ecosystem (Tendermint-based chains via IBC, Substrate ecosystem, and some EVM chains among others), there is still a lot of work to be done to connect these ecosystems between each other. Of course, one could take the assumption that there will only be a dominant interoperable ecosystem, but this is not how the market behaves. We believe that we will see more application-specific blockchains grow in the future.

Many bridges have been emerging to connect blockchains and ecosystems with each other, yet there is still a strong lack of decentralization with how bridge operates. Thus, the need for true decentralized bridges such as deBridge. We believe that many DApps, wallets, developers, and users will choose to integrate and interact on decentralized bridges such as deBridge, which can offer more censorship resistance as they operate through an elected validator set.

We are very excited to be an active validator for deBridge and look forward to contributing to the success of the protocol. Decentralized bridges such as deBridge will be a core component of blockchain moving forward, and will play a key role in enabling efficient blockchain interactions and seamless user experience.

About Stakin

Stakin is an infrastructure operator for Proof-of-Stake (PoS) public blockchains, offering non-custodial delegation services. The company enables PoS cryptocurrency holders to earn interests on their holdings and participate in decentralized governance while remaining in possession of their cryptocurrencies.

Stakin serves institutional crypto players, foundations, custodians, exchanges as well as a large community of individual token holders. Driven by demand from institutional customers and the community, Stakin provides services for multiple blockchains, including leading ecosystems such as Cosmos, Solana, Polygon, Polkadot, and more.

For more information about Stakin, visit the Website, Twitter, Blog, or join the Telegram and Discord community.

About deBridge

deBridge is a cross-chain interoperability and liquidity transfer protocol that allows decentralized transfer of assets between various blockchains. deBridge protocol is an infrastructure platform and hooking service for:

  • Cross-chain composability of smart contracts
  • Cross-chain swaps
  • Bridging of any arbitrary asset
  • Bridging of NFTs

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DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

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