Terra Bridge, the cross-chain bridge protocol now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche according to Terraform Labs CEO Do Kwon. “Easiest way to move funds in crypto,” the Terraform Labs CEO explained in a tweet.
Terra Bridge Adds 5 New Chains
On April 12, 2022, Terraform Labs co-founder Do Kwon told his 352,800 Twitter followers that Terra Bridge, otherwise known as bridge.terra.money, now supports five new blockchain networks.
Cross-chain bridge technology has come a long way over the last 12 months and in mid-September 2021, there was over $7 billion total value locked (TVL) across several bridges to Ethereum. Today, cross-chain bridges to ethereum hold $19.51 billion in value across over a dozen blockchain networks.
“Bridge.terra.money now supports Avalanche, Solana, Osmosis, Fantom, and Moonbeam Network. The easiest way to move funds in crypto,” Do Kwon said on Tuesday. The Terraform Labs co-founder also shared a screenshot of the protocol in action.
In addition to the newly added Solana, Fantom, Moonbeam, Osmosis, and Avalanche networks, bridge.terra.money also supports Ethereum, Binance Smart Chain (BSC), Harmony, Secret, Injective, Cosmos, and Polygon.
The Terra (LUNA) network has been a prominent fixture in decentralized finance (defi) in recent times as the network is the second-largest blockchain in terms of defi TVL, according to defillama.com stats. The value locked in Terra today is $26.14 billion or 12.52% of the $208 billion locked in defi on April 12.
Anchor is the largest defi protocol on Terra with $14.38 billion locked and Lido is the second-largest defi protocol with $7 billion locked. Terra (LUNA) is also the fifth-largest smart contract platform coin by market capitalization with $29.8 billion today.
Anchor recently added support for the Avalanche (AVAX) blockchain and the Luna Foundation Guard (LFG) recently explained it planned to purchase $100 million in AVAX, in addition to the non-profit’s bitcoin (BTC) reserves.
What do you think about Terra Bridge adding five support for five new blockchains? Let us know what you think about this subject in the comments section below.