Wormhole, a pioneering interoperability ecosystem designed to bridge different blockchains, introduces its second iteration and shares the details of its upcoming V1-V2 migration.
Ethereum-Solana bridge 2.0: Introducing Wormhole v2
According to the official announcement shared on Wormhole’s main Twitter account, its second iteration, Wormhole v2, is up and running.
1/ Today we’re incredibly excited to announce the launch of our Wormhole Token Bridge starting with @Ethereum and @Solana 🙌🏻 . https://t.co/iu82tYZyld— Wormhole (@wormholecrypto) September 17, 2021
Its most exciting opportunity is a seamless value transfer between the first smart contracts platform, Ethereum (ETH), and red-hot programmable blockchain Solana (SOL). The Wormhole team stressed that, right now, demand for this type of bridge is unmatched:
There couldn’t be a better time for Wormhole V2 to launch its token bridge and add fuel to the fire, so let’s talk about what’s coming and how Wormhole will power interoperability cross chain.
The migration of liquidity from v1 to v2 will be the first step in Wormhole’s ecosystem progress. Approximately, $250 million in multiple assets will be moved to the new bridge.
Users of Serum DEX, the first Solana-based decentralized exchange, will be able to use their coins through the same UI as Sollet’s wrapped assets, which can be exchanged with Solana’s assets for no fee.
More blockchains, more interoperability
Then, Wormhole v2 will integrate Solana’s wallet, Phantom. In initial releases, Wormhole’s assets will be displayed in Phantom as NFTs.
Wormhole’s migration will be supported by Solana’s cross-chain product, Saber HQ.
Finally, Wormhole devs shared their plans to integrate Terra (LUNA) blockchain and Binance Smart Chain (BSC) to advance cross-blockchain liquidity ecosystem.
As covered by U.Today, a recent report indicated that USDC surpassed Ether as the main asset in cross-network bridges.