The decentralized, permissionless cross-chain platform Axelar and USDC creator Circle have announced the ពិធីការផ្ទេរខ្សែសង្វាក់, which looks to revolutionize cross-chain transfers across the crypto industry.
Jason Ma from Axelar stated that “we finally have real programmable money.”
USDC will be able to be transferred cross-chain without the need for either wrapped tokens or assets being held at a cross-chain bridge.
Bridges are notorious for having been subject to significant exploits in the past. Two of the largest bridges to be drained of funds were the Binance BSC bridge and the Ronin Bridge. The combined value of funds initially removed from the two platforms topped $1 trillion.
Jason Ma from Axelar exclusively told CrytoSlate that this update impacts all crypto users in that,
“LPs មិនដែលកាន់កាប់ទ្រព្យសម្បត្តិដែលជាប់ទាក់ទងគ្នាទេ។ វាលុបបំបាត់ចំណុចកកិតដ៏ធំបំផុតដែលយើងបានជួបប្រទះនៅពេលនិយាយទៅកាន់កម្មវិធី Blue-chip DeFi ។ វាមានតែហានិភ័យមួយចំនួនសម្រាប់អ្នកប្រើប្រាស់ក្នុងរយៈពេលមួយតូចប៉ុណ្ណោះ»។
In terms of use cases, the CCTP addition allows for myriad options for cross-chain swaps. A token swap can be routed through USDC on one chain and then seamlessly transferred to another chain, where it is routed to the desired token on the new chain. In this scenario, no tokens are held in bridges, and no subsequent wrapped version of the token is on the final chain.
The update to USDC also allows for NFTs ឆ្លងខ្សែសង្វាក់ as a part of the new partnership with Axelar’s General Message Passing technology.
Source: https://cryptoslate.com/usdc-axelars-new-protocol-has-bridge-free-cross-chain-swaps-does-away-with-bridged-tokens/