Cryptocurrency News

Orbs Token Added to Orbit Bridge as Orbs Partners with Megaton Finance

By December 20, 2022 No Comments
Orbs logo image cover

The orbs project is inching closer to the mainstream with two exciting announcements to close the year 2022. The Orbs token has just been added to the Orbit Bridge, an inter-chain communication protocol that connects 19 different chains, including TON (The Open Network).

In related news, Megaton Finance has announced Orbs as an official launch partner to its DEX-AMM on TON. The planned launch will take place in January 2023. The implication of these important partnerships is that Orbs token can be bridged to the TON blockchain now. Liquidity pools and swap functions are expected to be added soon.

Orbs Integration to Orbit Bridge

The use cases of Orbs token are set to increase significantly as the asset has been added to the Orbit Bridge. Coming from Ozys, a leading blockchain technology company, Orbit Bridge utilizes Inter-blockchain communication technology (IBC) to enable communications between heterogeneous blockchains.

The key attributes of Orbit Bridge include:

  • Sending cross-chain data (including assets) between heterogeneous chains
  • Trustless, secure multiple signature verification through decentralized authority
  • Fast, secure consensus process through the Orbit Chain, based on smart contract

According to verifiable information, Orbit Bridge has processed over $12B in total bridge volume. It also holds close to $200M in total value locked (TVL).

Orbit Bridge connects about 19 different chains and supports about 85 tokens. It recently announced support for The Open Network (TON). With the latest addition, Orbs tokens will become available on the TON Chain for the very first time.

Becoming an Official Launch Partner of Megaton Finance

Megaton Finance’s much anticipated DEX-AMM on TON will finally launch in January 2023, with Orbs Network being one of its official lunch partners. This implies that the Orbs token will be listed on Megaton Finance. It will feature in liquidity pools in addition to other functionalities.

On its path, Megaton Finance is committed to serving as a link between the TON blockchain and the DeFi ecosystem. To achieve this, it will also connect with Layer 1 chains like Ethereum. It will serve as the first autonomous financial protocol within the TON ecosystem, providing yield farming opportunities like swaps and pair deposits.

Megaton Finance will not be limited to being an Automated Market Maker (AMM). Rather, it intends to serve as a gateway to Web 3.0 by rolling out necessary upgrades and integrating with Telegram in the near future. 

Orbs Solid Presence in TON

Orbs’ expansion to the TON ecosystem has just begun. It will certainly be solidified in the near future. As an L3 infrastructure, it will implement new use cases for protocols running on top of The Open Network (TON). Of course, the TON ecosystem has enough room to accommodate the exciting opportunities Orbs integration will bring.

Already, two important services that utilize Orbs’ technology has been launched on TON:

  • TON Minter – is the official tool for deploying Jettons (alt tokens) on TON
  • TON Verifier – is an open-source application for publishing verified source code for on-chain contracts on TON

It is only a matter of time before Orbs’ presence on TON becomes effectively solidified.

Wrapping Up

TON’s potential to advance the mainstream adoption of blockchain technology has never been in doubt. Orbs’ latest integrations with Orbit Bridge and Megaton Finance have secured an important place on the TON network. Orbs is likely to become a major contributor to the TON ecosystem, banking on its latest integrations and upcoming upgrades.