Digital currency website CelsiusCow.com, in association with The Digerati Premium, has released a new report on the Celsius Network’s Cross-Chain Liquidity Bridge.
Katy, USA, March 05, 2022 (GLOBE NEWSWIRE) —
The latest launch of CelsiusCow.com gives readers an in-depth look at how the Celsius Network platform offers users a way to use their crypto assets as collateral for funding. The report details how members of the network can earn a return on their crypto assets and source lending services, all within the same financial ecosystem.
More details can be found at: https://celsiuscow.com/what-is-celsius-x
The new report explores CelsiusX – the platform’s latest foray into bridging the gap between its centralized and decentralized financial services. The program aims to broaden the scope of opportunities for users through gas-free and fee-free services, as well as complementary packaging and transition features.
According to the report, CelsiusX is creating a new infrastructure by facilitating the packaging and bridging of Wrapped Cardano (ADA), Wrapped Dogecoin (DOGE), and Wrapped Ether (ETH) in an ERC-20 standard. This allows these assets to be used on EVM-enabled blockchains. Users can now link their assets for use on Polygon.
The report explains that all key actions such as typing are controlled by an oracle service. This sets CelsiusX apart from similar platforms that must rely on a trusted centralized third party. The platform promotes on-chain transparency, minimizing trust assumptions through an auditable process.
The CelsiusCow.com report goes on to explain CelsiusX’s long-term goals. With a system that locks assets in an external vault on Enzyme Finance, the platform cannot mint more coins than what is available. After the launch of the CelsiusX Bridge, the process of unifying the ecosystems of CeFi and DeFi will continue, towards true decentralization and self-sovereignty of user assets.
Going forward, CelsiusX is expected to allow packaging of other altcoins in addition to ADA, DOGE, and ETH. Competitors include MATIC, DOT, AVAX and SOL. While the platform currently runs on the Polygon blockchain, CelsiusX users will eventually exploit opportunities for interconnection between other chains such as Avalanche and Arbitrum.
A spokesperson for CelsiusX said, “CelsiusX will continue Celsius’ mission to bring financial freedom and the spectrum of opportunity – from centralized yield to easy accessibility to DeFi protocols – for its users.”
With its latest Cross-Chain Liquidity Report, CelsiusCow.com continues to keep readers informed and make the intricacies of the cryptocurrency industry more accessible to aspiring traders and miners around the world.
For more information, please visit: https://celsiuscow.com/what-is-celsius-network
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice or any other type of advice and should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency be bought, sold or held, or that any crypto investment be made. The crypto market is high risk, with high risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decision.
CONTACT: Name: Alain Diza Organization: The Digerati Premium Address: 20910 Avery Cove Lane, Katy, TX 77450, United States Phone: +1-346-932-2229