Injective Bridge is now live; What does this mean for DeFi users

Injective Bridge is now live; What does this mean for DeFi users
Table of Contents

Injective Labs announced the launch of Injective Bridge (INJ-ETH) that brings seamless cross-chain interoperability to Injective. The new bridge helps users and developers bridge ERC-20 tokens to the Injective Chain. It uses the secure cross-chain Peggy Bridge.

The new tool helps end-users migrate their tokens to the new blockchain. It can help DeFi services on Injective offer services easier to users. Those who have been using ERC-20 as their primary token standard can now easily deploy their tokens on the Injective Chain.

Cross-Chain Interoperability

Cross-chain functionalities are becoming a must in the blockchain industry. More blockchains are trying to offer this solution to be able to offer a comprehensive experience to their users.

Besides, developers need these solutions to offer their dApps to more people. The ultimate result will be more satisfaction for all the industry players. It can be the next big thing to attract more mainstream users to the industry. Injective Chain is one of the most active projects with a focus on cross-chain interoperability.

The latest announcement from Injective Labs shows that this blockchain is one more step near a cross-chain functionality.

The new INJ-ETH bridge on the Injective Chain is managed by Peggy Bridge. It makes it possible for users to bridge any ERC-20 token to the Injective Chain. It’s the cheapest solution available, with a transaction fee of about $0.02 for transactions in the Injective Chain.

Besides, the transactions will be done instantly on this bridge because of the Tendermint-based Proof-of-Stake (PoS) consensus on the blockchain. It claims on managing the fastest withdrawals in the market compared to all similar solutions on Ethereum.

injective bridge

The user interface is one of the most important aspects of a cross-chain bridge. End-users need a seamless and easy interface to be able to move their tokens faster. Injective Bride claims to be very user-friendly. According to the announcement:

“The INJ-ETH bridge was designed with the end-user in mind, so you will find a highly intuitive user interface for making transfers across chains. Many popular assets are already populated, but you can also add in any custom ERC20 token address using the simple drop-down interface.”

New DeFi products on Injective like exchanges, relayers, insurance funds, and more can benefit from the new INJ-ETH bridge. Developers can use Ethereum-native tools on this blockchain and easily distribute their products i=to the community. Accessing the Injective DeFi ecosystem will be available to them next to accessing the entire Cosmos network on top. The IBC bridge integration that will go live soon will manage this access.


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