AirDAO launches Ethereum cross-chain bridge for its Layer 1 network
Quick Take
- AirDAO’s Ethereum bridge will allow users to move tokens from Ethereum to the Ambrosus network.
- Ambrosus is a Layer 1 blockchain network governed by AirDAO.
AirDAO, the decentralized autonomous organization that governs the Ambrosus Layer 1 network, launched an Ethereum bridge for its blockchain ecosystem.
It's the second cross-chain bridge enabled by AirDAO on the Ambrosus chain and will enable users to move supported crypto tokens from the Ethereum network to its own. The ecosystem already has a BNB Smart Chain bridge.
The cross-chain bridges are among a slew of new features released by AirDAO for the Ambrosus chain. The DAO has also enabled token swaps via a decentralized exchange called FirepotSwap and staking.
Cross-chain bridges have become targets of sophisticated cyberattacks in recent times. Hackers have stolen over $2.5 billion from cross-chain bridges in the last two years.
These incidents currently account for more than half of all DeFi-related crypto thefts, leading to debates about improving bridge security. Some of the major bridge hacks include the Ronin and Poly Network attacks that saw a combined total of over $1 billion stolen.
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