Relite Finance, a cutting-edge decentralized crypto lending protocol, announced the launch of its cross-chain Ethereum-to-Binance Smart Chain (BSC) token swapping bridge. From now on, all Relite users and DeFi enthusiasts will adopt a smooth and rapid option to change the network for ETH- and BSC-based digital assets.
This update plays a vital role in the Relite platform development, which was initially launched with an eye on such core values as scalability & interoperability. The ETH-to-BSC bridge implementation is a logical milestone on the way to the full-scale Relite platform launch, arranged for Q3 2021. The demand for the Ethereum-to-BSC bridge has significantly increased once the $RELI pool opened on Pancake Swap, the world’s leading Binance Smart Chain DeX.
Another benefit of this update is the transfer fees reduction, which might be pretty high for the Ethereum-based tokens in moments of network overload. Along with hitting this critical target, the newly implemented bridge strives to increase the Relite platform liquidity by exposing it to a diverse global market.
Going in line with the recently completed Certik audit and the Market Crash Protection contract, deployed for $RELI by Shield Finance, the Ethereum-to-BSC bridge is expected to enforce the platform’s diversity and enhance UX by adding extra interoperability and reducing high gas fees.
George Groshkov, the CEO for Relite Finance, was glad to emphasize the gaining momentum work done in the post-IDO month. He said:
“This isn’t the first time I put the main focus on the Relite platform development once we completed a successful IDO on Ignition. The Ethereum-to-BSC bridge is a vital update, demand-driven by our core values, like interoperability, sustainability, and scalability. I can ensure you that the Relite team works hard to implement the best options to our developing products, so soon you’ll hear some more amazing news!”
About Relite Finance
Relite Finance is a cross-chain DeFi money market protocol that enables users to lend, borrow, and stake all crypto assets in one interface by utilizing Polkadot’s Moonbeam Parachain, bridges, and a unique reserve fund module. Relite plans on creating interoperability with Bitcoin, Ethereum, and other blockchains. In addition, Relite plans to implement collateralization of NFTs with better fees and usability than other protocols can offer. Follow Relite on Twitter and Telegram.