Across the Cryptoverse #43 - Across V3 And Interoperability Powered By Intents
New year... new goals! 2024 is only getting started and AcrossProtocol has already achieved significant milestone. The total volume at the start of the year grew from $20 M in 2022, to $41 M in 2023 .... to an mind-blowing $300 now! That's a +630% growth rate in accumulated volume from this time last year.
Bridgooors are discovering AcrossProtocol ... and this was before Across V3 was launched! Over 14,000 first time user used Across due to the low fees and fast transfers, as the bridge recorded 155,000 transactions! We are just getting started! Are you ready to explore interoperability powered by intents?
Most interoperability solutions rely on message passing for cross-chain transfers. This is extremely difficult to do quickly, affordably and securely. What if there was another way?
AcrossV3 is an interoperability solution powered by intents, which includes new features such as:
Cross-chain intents settlement layer
Cross-chain bridge hooks for user intents
upgrades to the Across Bridge
The Across Settlement is the only production-ready, modular settlement layer for cross-chain intents. Engineered to accept any intent-based order flow between chains, it seamlessly enables any dapp using this order flow style to offer best-execution fulfillment.
Users want to use apps, not bridges! Actoss+ upgrades UX by abstracting bridging to the background for a Web2-like experience. It allows developers to harness cross-chain bridge hooks to bundle bridging + protocol actions within their dapp. Say goodbye to bridging!
Across+ promotes user onboarding & cross-chain capital bootstrapping by allowing protocols to deploy on a single chain and pull capital to their dapp rather than chase it with multichain deployments.
The debut product, AcrossBridge𝗲 provides empirical evidence that intents-based design offers superior cross-chain transfer execution. Relayers compete to fill transfers naturally driving down fees + speeding up execution. This is the core of intents-based design.
AcrossV3 was launched on the 22nd of February and only two days later a new ATH was recorded. AcrossV3 's intents-based bridging is working, as the bridge just hit its ATH of $48M in daily volume!
Such an amazing launch had to be properly celebrated and what better way than a community party? We all gathered for alpha and fun in the AcrossDiscord, where the big brains from Risk Labs shared top insights about AcrossV3.
Let me tl;dr it for you: AcrossV3 is the first intents-driven interoperability protocol and it will deliver a level of cross-chain UX that developers and their users demand as crypto enters a complex multichain economy.
The AcrossV3 launch also includes optimizations for the Across Bridge fees, so yes... even lower thanks to an improved system that allows the protocol to incentivize relayer repayments on chains where the bridge has an easier time getting liquidity.
AcrossProtocol has been natively intents-based since its launch in 2021. During this time, Across has proven the intents-based interop thesis by outcompeting bridges using other technological paradigms. The launch of V3 is Across’s transition from a bridge to a full-service interoperability platform based on intents.
Do you know you can now subscribe to AcrossProtocol news from your Coinbase Wallet? DeFi and Web3 just got better! There are more V3 additions coming soon, such as improved capital efficiency (lower fees, Competitive Pricing RFQ Cross-Chain Swaps and Gasless Cross-Chain Swaps! There's no better time to dive into interoperability!
Residual Income:
Games: Upland / Splinterlands / Doctor Who
Cashback Cards: Plutus Card / Crypto.com
ZCash: PipeFlare / GlobalHive
