Iagon’s Ethereum-Cardano bridge launches for USDC transfers
The world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain. See related article: Wormhole to bridge Polkadot, Kusama to Ethereum, Solana...
Image: Wikimedia CommonsThe world’s second-largest stablecoin USDC and ERC-20 IAG tokens can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain.
See related article: Wormhole to bridge Polkadot, Kusama to Ethereum, Solana
Fast facts
- A cross-chain bridge allows for crypto assets of one blockchain to be converted for use on another ecosystem.
- USDC’s inclusion to Cardano further strengthens its decentralized finance (DeFi) ecosystem, which has collected US$119 million in total value locked (TVL) since the blockchain upgraded for smart contracts in September’s Alonzo hard fork.
- Cardano users are hoping to get their own native stablecoin in the form of yet-to-be-launched algorithmic coin Djed.
- Iagon plans to add support for additional ERC-20 tokens in the future.
- The Cardano network is setting up for the scalability-focused Vasil hard fork public testnet scheduled for early June.
- Cardano’s native token, ADA, gained up to 5% overnight in Asia to trade at US$0.4834, while Ethereum gained up to 2% overnight to trade at US$1,805 at press time.
AD
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
