Presenting LYOBRIDGE — The Connecting Factor Between Multiple Blockchain Networks
We are proud to present the latest product of the LYOPAY Ecosystem — LYOBRIDGE.
- LYOBRIDGE establishes a link between LYO Credit BEP20 and ERC20 blockchain networks, allowing the transfer of the token across them.
- Utilizing LYOBRIDGE has several benefits such as cross-chain interoperability, asset diversification, liquidity, access to DeFi applications, and lower transaction fees.
- Supported wallets include: Metamask, Wallet Connect, Coinbase Wallet
- More information on: docs.bridge.lyotrade.com
LYOBRIDGE is a platform that connects multiple blockchain networks, enabling seamless communication and transfer of data or assets between them. Acting as an intermediary, it facilitates cross-chain transactions, allowing users to interact across different blockchain protocols.
The LYOBRIDGE operates through several key features:
- Fungible Token Bridge: It allows for the transfer of LYO tokens across different chains through the use of liquidity pools. This approach is advantageous as it provides flexibility in deposit and claim methods while reducing the risk of hacks that may be associated with bridges that have minor roles.
- Chain Support: LYOBRIDGE supports bridging between ETH and BNB chains at present, with plans to expand to other networks in the future. This expansion will offer users the ability to bridge tokens across a wider range of chains.
- Security-Focused Architecture: LYOBRIDGE has a security-focused architecture that has undergone extensive internal and external audits. The platform is designed with a focus on maintaining the highest security standards to protect user assets during the bridging process.
Every exchange has a limited number of supported chains, which can exclude transactions involving LYO Credit (LYO) tokens on exchanges that do not support the BEP20 protocol.
LYOBRIDGE is designed to enable the listing and trading of LYO tokens anywhere.
Utilizing LYOBRIDGE offers several advantages:
- Cross-chain Interoperability: LYOBRIDGE facilitates communication and interaction between diverse blockchain networks, helping to mitigate the existing fragmentation in the cryptocurrency ecosystem.
- Asset Diversification: By allowing you to hold assets from various blockchain networks, LYOBRIDGE promotes a diversified cryptocurrency portfolio.
- Liquidity: LYOBRIDGE can enhance liquidity for specific assets by allowing their trade across multiple blockchain networks.
- Access to DeFi Applications: Numerous DeFi applications operate on particular blockchain networks. LYOBRIDGE grants access to these applications even if your assets don’t reside on those specific networks.
- Lower Transaction Fees: Transferring assets across blockchain networks via LYOBRIDGE can be more cost-effective than traditional exchanges.
The LYOBRIDGE works with:
- Wallet Connect
- Coinbase Wallet
You can transfer your seed phrase/private key from another wallet into MetaMask. If you’re using Wallet Connect wallets, ensure they support the same networks and tokens as LYOBRIDGE.
Start using LYOBRIDGE today: bridge.lyotrade.com
More information on: docs.bridge.lyotrade.com
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