Alameda-Backed Router Protocol Announces Avalanche Integration - Daily Bitcoin news

Alameda-Backed Router Protocol Announces Avalanche Integration


Ramani Ramachandran, co-founder and chief executive of Router Protocol, believes that the integration will help advance the mission of achieving a multi-blockchain future.

Router Protocol – Avalanche

Singapore-headquartered Router Protocol has integrated Avalanche network’s C-Chain to its cross-chain messaging protocol. According to the official press release shared with Crypto Potatothe development will enable users to leverage the Avalanche network by conducting cross-chain transfers and swaps between blockchains such as Polygon, Binance Smart Chain (BSC), and Avalanche C-chain.

With the integration, the users of the Avalanche smart contract can now purchase digital assets on other networks such as Polygon or BSC in a single transaction without having to leave the network.

Founded in 2020, Router Protocol aims to seamlessly facilitate bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.

What Does Avalanche Integration Mean for Users?

The main objective behind the integration is to solve issues associated with the increase in “siloed and unconnected” blockchains that poses a hindrance to the growth of the industry. On that note, it aims to provide the necessary connecting infrastructure which will spread to all leading EVM and non EVM chains.

Users can receive access to a proprietary pathfinder algorithm that aggregates decentralized exchanges to find the best rates for cross-chain swaps. In addition to fast-finality, Router’s integration with Avalanche will also provide easy cross-chain swaps and 1:1 low-fee asset transfer of assets such as USD Coin (USDC), Avalanche (AVAX), Polygon (MATIC), and Binance Coins (BNB).

Besides, Router Protocol’s upcoming software developer kit (SDK) will enable devs to create cross-chain applications to communicate with various chains, including Avalanche.

The latest development comes three months after Router received the backing of $4.1 million in a strategic funding round. Some of the prominent industry players participating in the round include Coinbase Ventures, Alameda Research, Polygon, De-Fi Capital, Maple Block, Wami Capital, QCP, TeraSurge Capital, Woodstock, Wintermute, and Shima Capital.

Following the capital infusion, Router CEO Ramachandran stated,

“We are excited to have this dream team of investor partners. Beyond just capital, all of these investors have been deeply involved—hands-on—in the design and development of Router as well as DFYN, as we look to build a critical, scalable cross-blockchain infrastructure that is the need of the hour.”

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