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Celer Network & Flow Enter Partnership to Support NFT & Digital Asset Bridging

Flow recently entered a partnership with Celer Network, a multichain OS (operating system.) The two recently joined hands to support NFT and digital asset bridging to 20+ chains connected to Celer’s cBridge. 

The integration will establish seamless multichain interoperability between the platforms. With multichain becoming a norm in the blockchain industry, the integration will unlock numerous cross-chain prospects. 

As a renowned multichain OS, Celer supports multiple states, liquidity, and application logics, generally segregated throughout multiple chains. These chains interact with each other, enabling integer-chain composability for DeFi app projects and developers.

With the asset bridge, called cBridge, Celer facilitates quick, simple, and safe off-chain transactions for payments and smart contracts. Moreover, Celer provides its SGN (State Guardian Network), a PoS (proof-of-stake) blockchain network developed on tendermint. The network acts as the message router between multiple blockchain networks.

The initial phase of the Flow and Celer partnership will see the former using cBridge to bridge projects issuing tokens. It will elevate Flow’s DeFi framework, increasing its access to a larger audience spread across these chains.

In addition, Celer is carrying bluechip virtual assets, like USDT, DAI, WBTC, WETH, etc., to infuse with Flow. Besides that, several Flow-based projects are working with cBridge to expand their value proposition and customer base with Metapier and Increment Finance. 

Here, the former is a feature-rich AMM DEX (automated market maker decentralized exchange), while the latter is a lending protocol developing DeFi frameworks. Both ventures bring the utmost value to the partnership, making it mutually beneficial. 

However, Flow will gain more from the collaboration after integrating 24 premium chains backed by the Celer Network.

Source: cryptonewsz.com

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