“The Portal is Open.” Solana’s interoperability protocol Wormhole (communication bridge) now supports Binance Smart Chain (BSC). It’s worth noting that APYSwap earlier introduced the “first-ever” BSC-to-Solana bridge in May 2021. Wormhole already supports ETH-to-SOL token and NFT bridge.
As of this writing, Wormhole accounts for over US$251 million in Total Value Locked (TVL). Now, Wormhole V2 is entering the acclaimed network of the omnipresent Binance Smart Chain. Ethereum and Solana ecosystem users can now bridge their wrapped tokens easily across Ethereum, Solana, and now BSC.
Hendrik Hofstadt, Director, Special Projects, Jump Crypto (ex-co-founder Certus One, a principal Wormhole contributor), said:
Interoperability through the Wormhole network benefits users and projects in each ecosystem by providing access to the highest value aspects of all the other supported ecosystems,
The addition of BSC provides access to its large base of users and applications across its DeFi and NFT ecosystems, which will add an exciting element to the Wormhole network,
BSC processed over ten times higher transaction volume compared to Ethereum during its peak in September 2021. The Wormhole bridge support for BSC is poised to provide to 470,000 blockchain gamers of the BSC network a robust platform. BSC blockchain gamers can now develop novel markets for in-game assets on Ethereum or even host them to NFT marketplaces of Solana. Wormhole enables passing messages across chains, thereby promoting cross-chain governance, liquid staking tokens, and oracle data access.
Wormhole is a communication bridge that connects Solana with decentralized finance (DeFi) networks. Given Solana’s high speed and affordability, with Wormhole, transferring tokenized assets of projects, platforms, and communities across blockchains gets easy. Wormhole bridges chains, allowing swift information transfer across blockchains.