Moonstake partners with deBridge to aid cross-chain bridge for NFTs

Moonstake partners with deBridge to aid cross-chain bridge for NFTs

Moonstake, a leading staking service provider, has recently announced its collaboration with exclusive cross-chain interoperability and liquidity transfer project, deBridge.

With this move, Moonstake will become a validator for the deBridge network which enables unified bridging of any random asset and data and NFTs across a broad range of blockchains, including Binance Smart Chain, Ethereum, Arbitrum, HECO, and Polygon, including at the beginning with more to come.

The infrastructure is empowering interoperability for assets and data and Metaverses and NFTs.

Moonstake introduced its staking business in 2020 to build the biggest staking network in Asia. Since then, it has established the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) for supporting around 2,000 cryptocurrencies.

At present, Moonstake supports around 14 high demand staking coins: Cardano, Tezos, Orbs, Centrality, Cosmos, Qtum, Polkadot, IRIS, Quras, IOST, TRON, Ontology, Harmony, and Shiden.

After launching a full-scale operation in August 2020, Moonstake's total staking assets have grown steadily, reaching $1.8 billion, and by June 2021, it was the 3rd best staking provider in the world out of the 15,000 staking providers globally.

As for debridge, it is a liquidity transfer and cross-chain interoperability protocol that lets the decentralized transmission of subjective data and assets between various blockchains.

It was commenced during the Chainlink Global Hackathon, where the team wished to solve urgent problems of transferring liquidity and data between blockchains and lack a single decentralized medium for bridging assets.

The project was bestowed with the grand prize, taking first place among more than 140 teams worldwide.

Alex Smirnov, CEO of deBridge, commented that the firm's team is excited that Moonstake will be a part of deBridge's validator network for facilitating reliability and security. They need to have experienced validators when the firm is building cross-chain infrastructure, and are looking forward to collaborating with Moonstake.

Source Credit - https://www.benzinga.com/pressreleases/22/02/a25591500/moonstake-collaborates-with-debridge-to-enable-cross-chain-bridge-for-assets-and-nfts