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

Wanchain Integrates with Moonbeam
  • Wanchain and Moonbeam are collaborating for Moonriver.
  • Moonriver will likely come out on August 26, 2021.
  • This collaboration aims to strengthen the DeFi ecosystem in Kusama.

The world’s premier decentralized blockchain interoperability solution — Wanchain, and the Ethereum-compatible smart contract platform in PolkadotMoonbeam, announced their collaboration on Wanchain’s Moonriver.

To specify, Moonriver is Wanchain’s industry-leading decentralized, non-custodial cross-chain infrastructure. It is a community-led sister network on Kusama. It is expected to fully launch on August 26, 2021.

The integration of the two is to strengthen the DeFi ecosystem on Kusama and enable developers to create decentralized cross-chain applications. To highlight, both Wanchain and Moonbeam believe that the next generation of blockchain innovation will be initiated by cross-chain interoperability of assets, data, and smart contract calls.

Additionally, both projects are “fully committed to building an interoperable multichain future.” Accordingly, Li Ni, Wanchain VP of Business Development and Operations says:

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 cross-chain infrastructure will connect Polkadot and Moonbeam to the larger cross-chain DeFi world.

Moreover, Wanchain’s decentralized cross-chain bridges connect Moonriver to Bitcoin, Ethereum, Wanchain, Litecoin, Binance Smart Chain, and XRP Ledger. Hence, this means tokens and other assets on all these public chains can move to Moonriver. Similarly, Moonriver’s own $MOVR is also cross-chain compatible with Ethereum, Wanchain, and Binance Smart Chain.

Derek Yoo, the Founder of Moonbeam, stated,

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. 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.

However, while cross-chain systems are becoming more popular, this industry will still require fervent studies and comprehensive interoperability solutions. Therefore, for blockchain to reach its full potential, Moonbeam and Wanchain are working together to make this possible.

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Cho Amisola is a passionate writer for both creative writing and digital publishing. She’s been featured and published in both areas and is now focusing on blockchain news.