Celer’s cBridge Crosses $1 Billion in Cross-chain Transaction Volume

Celer's cBridge Crosses $1 Billion in Cross-chain Transaction Volume
  • Celer will release a white-label frontend SDK.
  • Optimistic rollups are incompatible with Ethereum L1 and each other.

Celer‘s cBridge bridges the gap created by next-generation L2 solutions. Despite their strong scalability advantages for generic smart contracts, optimistic rollups are incompatible with Ethereum L1 and each other. The 1-week delay window locks consumers into their selected rollup. They may withdraw their assets quickly to L1 or another L2 utilizing cBridge.

Celer’s cBridge has crossed $1 billion in cross-chain transaction volume and assets linked by Celer’s cBridge multi-chain network that allows instant and cheap value transfers into ETH and its Layer2s. Since its start in July 2021, Celer’s cBridge has grown steadily, hitting a daily record of $25 million on November 17. The September release of layer two rollups like Arbitrum and Optimism boosted cBridge’s appeal.

“Reaching $1 Billion in transactions is an amazing testament to the effort our team put into designing what we believe is the best cross-chain bridge,” says Dr. Mo Dong, Celer’s Co-founder. “cBridge 2.0 is built to provide a much simpler user experience with a highly scalable and deep multi-chain liquidity management system to support billion-dollar daily cross-chain transfer volume for the entire ecosystem.”

State Channel Technology

Bridging procedures are cheaper than manual transfers, thanks to cBridge’s exclusive State Channel technology. cBridge 2.0 allows any liquidity provider that offers liquidity to any incentivized liquidity pool to start the liquidity farming without staking LP tokens instantly.

Liquidity providers may now aggregate their available liquidity across many chains into a single chain and withdraw it, considerably decreasing operating overheads. In addition to cBridge 2.0, Celer will release a white-label frontend SDK for multi-chain Dapps, cross-chain messaging for NFT, and more, allowing developers to build applications beyond simple cross-chain assets transfers.

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