Cross-chain innovation and connectivity with Ethereum interoperability
With cross-chain bridges, developers can use Flow's computational strength to build fast, complex applications while tapping into the financial liquidity and asset value strength of Ethereum. To achieve this vision, it is crucial to establish robust foundational connections between Flow and other blockchains. The main pillars for enabling cross-chain interoperability are Bridges, DeFi, Cross-chain Oracles and a fully self custodial wallet. This will be a multi-step process:
Step 1: Token bridging between ETH and FLOW using the Celer bridge, with sufficient liquidity for pool-based asset swaps on popular DEXs.
Step 2: Expanding cross-chain messaging for token bridging with Axelar as a second bridge in the ecosystem.
Step 3: Integrating with the cross-chain Band oracle for price feeds and real-world data. Band will provide secure and decentralized access to off-chain price data essential for DeFi products and other use cases.
Step 4: Expanding Axelar’s cross chain messaging for supporting cross-chain NFTs. With Axelar, developers will be able to utilize the General Message Passing (GMP) capability to create cross-chain NFTs or build cross-chain capabilities for traditional NFTs.
Initiatives
Current progress
As of today, Flow mainnet offers cross-chain bridging using Celer and pool-based asset swaps using IncrementFi and Metapier. BloctoSwap also provides order-book based asset swaps. Other cross-chain messaging/bridging options such as Axelar, LayerZero, and Wormhole are actively being explored for the features offered and the added redundancy provided. We are also working to onboard an oracle provider to Flow before the end of 2023.
The Flow DEX standard has been proposed to simplify integration with DEXs and will soon be finalized for development. Adopting the standard establishes the special role of DEXs as primitives for the broader DeFi ecosystem. The standard significantly reduces the complexity and compromises observed in other DeFi ecosystems. The DEX interface also brings important composability and security benefits for dapps.
Roadmap goals
Keep reading
Quickstarts
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