ORBS token added to Orbit Bridge, now available on TON Blockchain and Megaton Finance
Key highlights:
- The ORBS token has been added to the Orbit Bridge, which enables 19 different blockchains to communicate with each other
- Orbs can be used in exchange, yield farming and other DeFi products as the official launch partner of Megaton Finance DEX
- The Open Network blockchain ecosystem is expanding its industry uses and benefits
- Behind Megaton Finance is Ozys, which has also contributed significantly to protocols such as KLAYswap and MeshSwap
The Orbs project has added the ORBS token to Orbit Bridge, which includes 19 different blockchains, including The Open Network (TON), a blockchain that has recently increased in popularity. Orbs, which is also an official launch partner with Megatron Finance, DEX-AMM scheduled to be released on the TON network in January 2023, will soon be connected to the TON blockchain and used in exchange functions and liquidity pools.
Last project added to Orbit Bridge: Orbs
Orbit Bridge is a protocol that allows blockchains that normally cannot interact with each other to communicate thanks to IBC technology. Blockchains can communicate with each other using Orbit Chain, while users can simply use dApps and assets from different blockchains.
The IBC benefits of Orbit Bridge to blockchains and users can be listed as follows:
- Trustless, secure multi-signature verification
- Sending cross-chain data between heterogeneous chains
- Fast, secure consensus process
Orbit Bridge has over $12 billion in trading volume to date and has nearly $200 million in TVL. By adding support to The Open Network (TON), Orbit Bridge will enable the ORBS token to be used on the TON blockchain.
Official launch partnership with Megaton Finance DEX
Megaton Finance, a long-awaited DEX-AMM protocol to be launched on the TON blockchain, has chosen the Orbs project as its official launch partner. This means that the ORBS token can be used for liquidity pooling and other functions of this DeFi protocol. Megaton Finance aims to become the connecting protocol of the DeFi ecosystem by connecting the TON blockchain to other Layer 1 chains such as Ethereum.
Megaton Finance will be the first autonomous protocol to offer DeFi products such as exchange, pair deposit and yield farming in the TON network. Megaton’s other goal is to integrate Telegram in the future and become the main gateway for Web3.
Services Orbs can offer on the TON Blockchain
Orbs, a Layer-3 infrastructure layer recently included in the TON ecosystem, will provide new use cases for protocols running on this network. The Open Network ecosystem, which has developed rapidly recently, has continued to grow with the launch of two services using Orbs’ technology: Ton Verifier and Ton Minter.
- TON Verifier is an open source application for publishing verified source code for on-chain smart contracts
- TON Minter: Official tool for distribution of Alttokens (Jettons)
What is Ozy’s?
Ozys, a blockchain technology leader based in South Korea, always aims to be at the forefront of innovation in this industry. As a major contributor to Megaton Finance, Ozys has many flagship protocols such as KLAYswap and MeshSwap.
During the development of these protocols, goals such as establishing a decentralized, transparent and trust-based autonomous financial system, proposing standardized specifications for fragmented blockchain systems through cross-chain technology and contributing to the spread of blockchain-based autonomous financial systems were pursued.
