Across The Cryptoverse #18 - The Bridge That Keeps Upgrading
Across is the bridge that Ethereum deserves, being fast and financially efficient. Across connects Layer 2 and rollups to L1 Ethereum, being secured by the UMA’s optimistic oracle. It has a single liquidity pool, a competitive relayer landscape, and a no-slippage fee model.
But the story just started ... as Across keeps upgrading! The launch of the $ACX token was another step forward, which will lead to DAO governance and a top synergy between the project and the community. Was this the end of the innovation? No.... Across constantly implements ground breaking solutions and tools!
From launch, Across vision was to be both a technical and financial engineering puzzle! The Across bridge has been live for 20 months and bridged over $1.5 billion in assets across 5 chains!
The most valuable decentralized applications of the cross-chain future will be the same as they are today: financial applications. There are BOLD MOVES AHEAD!
Token bridging will remain essential for any permutation of the cross-chain future, and Across will keep focusing on building the best possible technology to transfer value across blockchains.
The novel interest rate lending model, protocol-level rebalancing and dynamic fund management capabilities will maximize capital efficiency. The new challenge is to expand on multiple EVM chains and absorb finality risk via the network of fast relayers.
The DAO governance will power the innovation, the optimistic governance (oSnap) was integrated. Across is committed to decentralization, and oSnap will empower the DAO to execute the results of Snapshot votes on-chain independently. This is a departure from the standard of most DAOs, which use mutlsigs to carry out a DAO’s votes, which is both censorable and centralized.
The Across community is vibrant, fun, but crypto savvy! Those that staked $ACX for 100 days received the coolest NFT on top of the 3x staking multiplier. There are 3700 holders of the "The Ranger Transcend The Mainnet" NFT, majestically created by Everfresh for Across Protocol as a gift to 100-day $ACX Reward Locking participants.
Trapped on the planet Mainnet, The Ranger determined to break free. With eyes set on opportunity, The Ranger became the first traveler to journey to the outer L2 planets. They had explored many cross-chain paths with the most loyal AI companion, ROSS, and together they met many dangers on surrounding planets and the paths to and from.
Welcome to the new world of Across, your liberation from solitary Mainnet existence. This NFT immortalizes your dedication to the cross-chain universe & your fearless veracity to speed towards the unknown.
All the NFT holders enjoyed a week of free bridging to Arbitrum, with bridge fee and gas fees rebate in $ACX. Couldn't miss the opportunity and moved some funds on Arbitrum, and received $ACX rebate! Not bragging about but 4 seconds is lightning speed for a cross-chain transaction!
The non-fungible exploration is not over, as the community created a solution that they called “community owned liquidity.” A series of Across community NFTs will be minted and sold to generate funds that will be paired with an ACX grant and added to an existing liquidity pool. Each NFT will represent an equal portion of that position, and NFT holders will earn pro rata rewards. Join the discussion on the Across forum.
Join the Community Call on Discord and keep updated with the top news! Get a GLX OAT for attending and get involved in the community led events and competitions!
Everything is in balance and harmony! Be ready to earn $ACX in the flash quizzes, or by taking part in fun events. Star Wars fan? We had a MayThe4th quiz and every correct answer was rewarded with 125 $ACX tokens!
I said it above that the community is one of the best! Rangers are challenging rangers, sharing love and $ACX in funny events. This time we had to create AI generated images that represented Across Rangers. The top images shared 175 $ACX and 12 $UMA!
Vox Populi... Vox Dei! The community voted for the top 4 entries and the prizes were tipped on Discord. I enhanced the event with an "out-of-this-world" POAP!
Football fan? We have something for you as well! Boom! Predict the outcome of football matches and win $ACX! Check the community, check the bridge, check the future of cross-chain! Most users who try Across stay with Across!
Why users who try Across stay with Across? Capital efficiency is the main reason... security is the next one! Since inception, Across has championed liquidity network bridge designs. The reasons for this are primarily security-related, as liquidity networks only use genuine or canonical tokens that are present on both the origin and destination chains. Across is the bridge Ethereum deserves!
Mint-and-burn bridges involve locking a token on its native chain and minting another synthetic mirrored token on the destination chain. While this method has been widely used, it presents potential security risks due to the reliance on synthetic tokens.
The liquidity network bridges will work exclusively with canonical tokens, the real versions of tokens on L2s and rollups chains. The system offers better security and user experience, eliminating the need to interact with synthetic tokens.
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