Plena Integrates Multichain to Enable Token Transfers Between Different Chains
As someone who’s active in the decentralized finance space, you’d have most definitely come across the term bridging. Blockchain bridging or cross-chain bridging is the connection of two blockchains and allows users to send cryptocurrencies from one of those blockchains to the other. For example, if you have USDT on Fantom but you want to spend it on Ethereum, you can do that by using a bridge.
Bridging has become an important part of DeFi and that is why we are pleased to announce that we have integrated Multichain to enable the transfer of tokens between different blockchains on the Plena Finance mobile application. This integration would better improve the user experience of our platform and provide users with one more DeFi tool which can ease their day-to-day transactions on Plena.
Speaking about the integration, Plena CEO Sparsh Jhamb said:
“With billions of dollars in total volume traded and total volume locked (TVL) in Multichain pools, Plena Finance’s integration with Multichain would go a long way in improving the services we offer.
And by creating partnerships and integrating the industry’s best solutions such as this, we are certain we’re moving in the right direction for our users.”
Multichain is the ultimate Router for web3. It is an infrastructure developed for arbitrary cross-chain interactions.
Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. Each blockchain has its own unique services that it provides, its own community and its own development ecosystem. The solutions developed by Multichain allow almost all blockchains to inter-operate. There is no restriction to Ethereum like chains (e.g. Binance Smart Chain), or different Layer 2 chains requiring finality to Ethereum (e.g. Polygon), or a network of Parachains (e.g. Moonbeam in the PolkaDot system), or Bitcoin types of chain (e.g. Litecoin), or COSMOS chains (e.g. Terra). These are either now all integrated, or on course for integration.
Plena is a unique DeFi ecosystem, a robust infrastructure paired with the most exciting marketplaces, opportunities, and product synergies!
The Plena team is a family of passionate and hardworking DeFi enthusiasts working towards a common goal of making DeFi accessible, simple, and rewarding for the masses with a robust and comprehensive ecosystem.