Wanchain Integrates with Moonbeam to Boost the DeFi Ecosystem in Kusama via Moonriver

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LONDON, UK / ACCESSWIRE / August 31, 2021 / Wanchain, the world's premier decentralised blockchain interoperability solution, and Moonbeam, the Ethereum-compatible smart contract platform in Polkadot, are pleased to announce an integration of Wanchain's industry-leading decentralised, non-custodial crosschain infrastructure with Moonriver.

Wanchain, Tuesday, August 31, 2021, Press release picture

Moonriver is Moonbeam's community-led sister network on Kusama and is expected to fully launch by August 26. This integration will strengthen the DeFi ecosystem in Kusama by enabling developers to build decentralised crosschain applications. Wanchain and Moonbeam both believe that the next phase of blockchain innovation will be marked by the crosschain interoperability of assets, data, and smart contract calls. Both projects are fully committed to building an interoperable multichain future.

Li Ni, Wanchain VP of Business Development and Operations states: "Moonbeam is rapidly becoming the industry leader for vision and execution by building a fully ethereum-compatible environment on Polkadot. They are already the premiere on-ramp to the Polkadot network. By working closely with Moonbeam, Wanchain's best-in-class crosschain infrastructure will connect Polkadot and Moonbeam to the larger crosschain DeFi world."

Wanchain's decentralised crosschain bridges connect Moonriver to the larger crosschain DeFi world. Direct bridges connecting Moonriver to Bitcoin, Ethereum, Wanchain, Litecoin, Binance Smart Chain and XRP Ledger are already deployed. This means that tokens and other assets on all these public chains can move to Moonriver. Similarly, Moonriver's own $MOVR is now crosschain compatible with Ethereum, Wanchain and Binance Smart Chain.

"DeFi activity is growing on many different blockchains, but the lack of integration between these blockchain ecosystems limits the liquidity and traction for many protocols," said Derek Yoo, Founder of Moonbeam. "Wanchain offers bi-directional connectivity options to multiple blockchain ecosystems from Moonriver. This connectivity will provide a rich set of assets to the growing defi ecosystem on Kusama and ultimately Polkadot."

While crosschain systems continue to gain popularity and traction, the industry still requires a comprehensive interoperability solution before blockchain can reach its full potential. This is the problem that Wanchain and Moonbeam are tackling together. More details about this partnership, including Moonbeam integration, will be shared in the coming weeks and months.

About Moonbeam

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently in active development by PureStake, Moonbeam is expected to reach MainNet by Q3 2021. Learn more: https://moonbeam.network/.

About Wanchain

True DeFi is interoperable - Wanchain, the Wide Area Network chain, is the world's premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world's many siloed blockchain networks. This cross-chain infrastructure empowers developers to build truly decentralised cross-chain applications to power the future of DeFi.