Ferrum’s cross-chain token bridge, funded by a DEVxDAO grant, maximizes Casper’s ecosystem reach, creating inroads to both EVM and non-EVM networks
ZUG, SWITZERLAND / ACCESSWIRE / January 4, 2022 / Casper Association, the not-for-profit entity that oversees the Casper Network – a core technology for the evolution of blockchain technology – today announces the integration of Ferrum Network‘s Cross-Chain Token Bridge to the Ethereum Virtual Machine (EVM) compatible projects and other non-EVM compatible networks. The move broadens both partners’ ecosystems, opening new opportunities in DeFi, NFTs, gaming, and the metaverse.
Built with funding from DEVxDAO – an independent DAO committed to providing grants to further the growth and development of Web3, initially funded by CasperLabs – the Ferrum bridge will initially facilitate Casper user access to Binance Smart Chain, Avalanche, Ethereum, Fantom, Polygon and many more.
Ferrum Network is a cross-chain Blockchain as a Service DeFi company that specializes in adding deflationary token utility and advisory services to projects across the crypto space.
With the mission of breaking down barriers to mass adoption in mind, Ferrum builds white-label blockchain solutions that empower startups and established organizations, enabling them to get their core products to market faster.
Extending access to the broader cryptocurrency ecosystem is part of Casper’s strategy to encourage the mass adoption of Web3 technology. By integrating the Ferrum bridge, Casper is widening connectivity for its environmentally-friendly and profit-based protocol while avoiding potential security challenges with other cross-chain approaches.
Ralf Kubli, board member of the Casper Association, says: “Casper and Ferrum share a common objective to break down barriers to mass adoption of Web3 by accelerating enterprise and developer deployment of future-proof, decentralized technologies.”
By delivering trusted, secure interoperability, Casper creates greater opportunities for users and developers to envision and build enterprise-grade, decentralized applications. The integration of Ferrum’s Token Bridge opens up opportunities in DeFi, NFTs, gaming, and the metaverse. Ferrum recently announced the launch of their joint staking program with LegendsOfCrypto (LOCGame), an NFT gaming and collectibles platform.
Ferrum also brings a suite of products that will encourage TVL (Total Value Locked) – the total value of cryptocurrency stored in a DeFi application or smart contract – to help develop the Casper Network.
Becoming the first to bridge Casper to the rest of the ecosystem gives Ferrum a substantial advantage in the world of interoperability. Ferrum’s suite of Staking-as-a-Service solutions also provides a source of utility for projects building on Casper.
Nick Odio, EVP of Partnership and Growth, at Ferrum Network, comments: “At Ferrum, our mission is to break down barriers to mass adoption. Casper’s enterprise-optimized and future-proof approach to encouraging adoption is directly aligned with our ethos. We’re extremely grateful for the opportunity to bridge Casper to the rest of the crypto sector and could not be more excited to be working alongside such an incredibly innovative team.”
About Casper Association
The Casper Association is the not-for-profit entity that oversees the ongoing evolution and decentralization of the Casper Blockchain. It provides resources to help accelerate the adoption of the Casper proof of stake (PoS) layer 1 protocol and its growing ecosystem of decentralized applications. Casper is designed to make full use of open web programming standards to quickly build blockchain applications that meet the needs of startups as well as enterprise environments. To learn more, please visit https://casper.network
About Ferrum Network
Ferrum Network is a cross-chain Blockchain as a Service DeFi company that specializes in adding deflationary token utility and advisory services to projects across the crypto space. With the mission of breaking down barriers to mass adoption in mind, Ferrum builds white-label blockchain solutions that empower startups and established organizations, enabling them to get their core products to market faster. To learn more, please visit: https://ferrum.network/