Wednesday, December 8, 2021
Home Crypto News Market Celer’s cBridge Surpasses $1 Billion in Transaction Volume in Four Months

Celer’s cBridge Surpasses $1 Billion in Transaction Volume in Four Months

- Advertisement -

Singapore, Singapore, 19th November, 2021,

Celer’s cBridge, the multi-chain network that enables instant and low-cost value transfers into Ethereum and its Layer2s, has surpassed $1 billion in total cross-chain transaction volume and assets bridged.

Celer’s cBridge has shown steady and rapid progress since launching in July 2021, reaching a daily peak of $25 million in assets bridged on November 17. The introduction of layer two rollups such as Arbitrum and Optimism in September was the main driver behind cBridge’s growing popularity.

Celer’s cBridge fills the gap in interoperability brought by next generation L2 solutions. Despite offering excellent benefits to scalability for generalized smart contracts, solutions like optimistic rollups are poor in terms of their composability with Ethereum L1 and each other. Due to the 1 week delay window, users are essentially locked into their preferred rollup. However, by using cBridge, they can withdraw their assets instantly to L1 or another L2.

Thanks to cBridge’s technology, powered by Celer’s proprietary State Channel technology, bridging operations are much cheaper in terms of gas fees than manual transfers.

Building on the success of v1.0, Celer has recently launched cBridge v2.0 beta to accelerate blockchain adoption by expanding its bridging initiatives, which is going to connect Ethereum with other L1 chains, including Solana and Cardano, as well as more L2 platforms. A couple of the more exciting features of v2.0 include:

  • Integrated Liquidity Farming Experience: cBridge 2.0 provides a seamless liquidity farming experience by allowing any liquidity provider that provides liquidity to any incentivized liquidity pool to automatically start the liquidity farming without any additional steps of staking LP tokens.
  • Single-chain liquidity withdrawal is now possible where liquidity providers are now able to combine their available liquidity that is across multiple chains into a single chain and then withdraw that liquidity, significantly reducing operational overheads.

With developers in mind, Celer will also release in phases for cBridge 2.0, a white-label frontend SDK that allows multi-chain dApp to have a built-in cross-chain experience, and a cross-chain messaging for NFT and more that enable developers to build applications beyond simple cross-chain asset transfers, including cross-chain DEX and NFT cross-chain minting, creating a universal asset bridge that might become a model for CBDC systems of the future.

“Reaching $1 Billion in transactions is an amazing testament to the effort our team put into designing what we believe is the best cross-chain bridge,” says Dr. Mo Dong, Celer’s Co-founder. “cBridge 2.0 is built to provide a much simpler user experience with a highly scalable and deep multi-chain liquidity management system to support billion-dollar daily cross-chain transfer volume for the entire ecosystem.”

About Celer 

Celer Network is a layer-2 scaling platform that brings fast, secure and low-cost blockchain applications on Ethereum, and other blockchains to mass adoption. Celer launched the world’s first Generalized State Channel Network and continues to push the frontier of layer2 scaling with advanced Rollup technology. Core applications and middlewares like cBridge, and more ecosystem applications built on Celer have attracted more large audiences in DeFi, blockchain interoperability and gaming space.


- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Largest Bank In Colombia To Offer BTC, ETH, LTC, And BCH Trading Services With Help Of Gemini

Gemini cryptocurrency exchange has entered into a partnership with the largest bank in Colombia, Bancolombia, under which the bank's clients will have access to...

3Space Art Announces the Launch of Its Groundbreaking NFT Platform

Singapore, Singapore, 7th December, 2021, Chainwire3Space Art is thrilled to announce the official launch of its groundbreaking NFT platform that facilitates widespread use of...

Starly Closes Pre-IDO Funding Round of $6.1 Million and Announces Future Plans

Zug, Switzerland, 7th December, 2021, — Starly, the launchpad and marketplace for gamified NFTs, has just closed its pre-IDO funding round with $6.125 million...

Polygon And Wanchain Announce Strategic Partnership, Plan To Launch World’s First Direct Decentralized Layer 2-to-Layer 2 Cross-Chain Bridge

London, United Kingdom, 7th December, 2021, -Polygon and Wanchain are proud to announce a strategic partnership that will drive further adoption of Layer 2... Becomes The Sixth Largest Crypto Futures Platform

Singapore, Singapore, 7th December, 2021, Chainwire Leading global digital asset exchange,, has quickly become the sixth largest crypto futures platform in the world, having...

UK FCA May Exclude Crypto Investors From Financial Services Compensation Scheme (FSCS)

Cryptocurrency investors may be excluded from the Financial Services Compensation Scheme (FSCS) in the UK. A proposal from the Financial conduct authority (FCA) is...

India Looking To Classify Crypto As Financial Assets, All Crypto Holders Must Declare Their Holdings Or Face Fines

India is considering appointing its capital markets regulator to oversee cryptocurrencies, according to people with knowledge of the matter told Bloomberg, as authorities look...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.