Kyiv-based team AllBridge released Allbridge Core which enables the transfer of value between blockchains by offering cross-chain swaps of native stablecoins. Being messaging protocol agnostic, Allbridge Core connects a variety of EVM and non-EVM networks, including Ethereum, BNB Chain, Tron, and Solana.
In July 2021, the team launched the original product — Allbridge Classic. It has been steadily gaining traction, with users bridging over $6.3 billion to date across 15 different blockchains. It was noticed that stablecoins occupy the largest share of the bridging volume. So the team has started building a stablecoin-oriented product featuring native cross-chain swaps – create a truly decentralized and non-custodial solution, following the original ideals instilled by the crypto founders.
Allbridge Core features
Allbridge Core enables native stablecoin swaps between EVM and non-EVM blockchains. At launch, users will be able to select between USDT, BUSD, and also USDC in the next update to swap them across Ethereum, BNB Chain, and Tron, with the Solana network coming soon.
The product provides users with a one-click solution, significantly enhancing the user experience and making cross-chain swaps more convenient. In addition, the team implemented the functionality to convert part of the transferred assets into gas tokens, reducing the barriers to entry into the new blockchains.
Security is a vital component of any bridging solutions. Allbridge Core addresses the existing issues in the space by making its smart contracts non-upgradable. This feature contributes to the bridge’s security and prevents bad actors from meddling with user transfers.
By design, Allbridge Core supports multiple messaging protocols: Wormhole messaging and our own messaging protocol. This favorably distinguishes Allbridge Core from competitors since this brings additional flexibility in network integrations and allows us to integrate with non-EVM chains like Tron.
In future iterations, Allbridge Core will provide an additional layer of privacy to cross-chain swaps by offering customizable security options. In addition, DAO members’ voting, consisting of liquidity providers, will decide upon the integrations of the new blockchains and tokens and change certain bridge variables, like fees.
Very soon, Allbridge Core will also include the provision of SDK, enabling seamless integration with bridge/DEX aggregators, wallets, games, and other DeFi products. You may also find additional details and guides on the dedicated GitBook page for Allbridge Core which we will continuously update as new features are added.
Access Allbridge Core to take part in the public beta and experience the future of cross-chain transfers.
Since the product is in beta, the transfer amount will be limited, and certain unexpected issues may arise in the process of public testing. Please use it at your own risk.
Allbridge is a DAO-style multi-chain hub, connecting DeFi service providers from EVM and non-EVM networks alike. Co-founder of Allbridge Andriy Velykyy is also co-organizer of the conference BlockchainUA.
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