The New Plenty Bridge Enable Bridge Tokens to Move in 5 Minutes

  • Crunchy and many NFT PFP drops on Tezos were produced by Codecrafting Labs.

Today plenty developer team Tezsure successfully launched the Plenty bridge, a decentralized Ethereum-Tezos bridge. 

Plenty is developing Tezos’ DeFi use cases with the aim of a fully decentralized financial ecosystem. That is supported by a robust federation (the Signers Quorum) to ensure the bridge’s stability. Previously, the token transfer took about an hour, but now it just takes 5 minutes due to Tezos’ latest upgrade.

Tezsure co-founders Bernd Oostrum & Om Malviya stated

The Ethereum bridge and the upcoming bridges from chains like Polygon, Avalanche, & BSC are key for the growth of the entire Tezos ecosystem. More bridges enable users from other chains to easily migrate their assets and try out all the innovations happening on Tezos. 

Plenty Bridge Transaction

Users can transfer their USDC, DAI, USDT, BUSD, WBTC, WETH, LINK, and MATIC tokens to the Tezos blockchain and back in a decentralized way using this bridge. Users will receive tokens in the format of the bridged asset (bridge tokens), which are Tezos blockchain representations of ERC20 tokens. These tokens are usable on Tezos and have the same value as the original tokens.

The Plenty bridge’s stability is guaranteed by the Signers Quorum, a group of trustworthy Tezos community members. Members of the Quorum interact with both the Ethereum and Tezos blockchains, generating bridge transactions based on user activity. 

Integro Labs, Codecrafting Labs, MIDL.dev, Baking Bad, Madfish, Tezos Ukraine, and Tezsure are the first seven quorum members on the bridge. All of the teams are well-known in the Tezos community.

Traders, liquidity providers, and developers will be able to participate in an open financial market. Avalanche, Polygon, and Binance Smart Chain will all be launching bridges in the near future.

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