Logan Cross-chain bridge is about to launch version 2.0 with a brand new asset and information cross-chain solution

Logan Network currently provides cross-chain bridge functionality for POL tokens.

New York, NY, April 20, 2022 (GLOBE NEWSWIRE) —

Logan Network, as an infrastructure connecting crypto assets and web3.0, is about to launch version 2.0 with a brand new asset and information cross-chain solution, bringing mass cross-chain liquidity to existing DeFi ecosystems with a phased bridge implementation with high efficiency. Besides,Logan Network plans to launch a prominent bridge network through its unique positioning in the multi-chain environment that leverages key ecosystem participation and platform partnership to bootstrap early users cross-chain liquidity.

This is not an investment advice. Please conduct your own research when investing in any project.

With the development of blockchain, it has entered a multi-chain coexistence market structure, and gradually formed a situation in which ethereum is the core and other public chains are actively expanding.

In the past two years, Logan Network has been the first to see application scenarios with practical needs on Ethereum: DeFi, NFT, GameFi and the future Web 3, and the ecological construction is thriving. But on the other hand, the rapid development of the ecology has also exposed the problem of insufficient underlying performance of Ethereum, network congestion and high gas fees, which hinder the further expansion of the ecology. At the same time, some people “rescue themselves” and set their sights on Layer 2, and some people “want to go out and see” and devote themselves to other public chains other than Ethereum.

Especially after the DeFi Summer in 2020 and the “JPG” market in 2021, people can clearly feel the rapid development of the ecosystem of public chains outside of Ethereum. Many emerging public chains (such as: BSC, Solana, Near, Avalanche, Terra, Fantom, etc.) have made corresponding trade-offs in the impossible triangle, supplemented and expanded in terms of scalability, and since most of these chains are related to EVM Compatible, it can more easily integrate DeFi and NFT-type projects, so as to complete the simple reproduction of applications that have been successfully implemented in Ethereum.

While these emerging public chains offer significantly lower fees, shorter transaction confirmation times, and some additional features, Ethereum still dominates with a TVL share of around 76%, mainly due to high Liquidity and Trading Volume.

In the current DeFi era where “liquidity is king”, in order to attract more users in the early days, major public chains attracted users through high APY, so the competition for liquidity promoted by involution started. Essentially, the initially accumulated traffic on Ethereum is fragmented bit by bit until a fragmented “island of value” is formed. In the past two years, this phenomenon has become more and more obvious with the increase of Layer2. Therefore, multi-chain coexistence is a new market pattern. As more public chains emerge, L2 projects continue to develop, the corresponding ecosystem is improved, and the demand for cross-chain asset transfer will explode.

Regarding the cross-chain bridge Logan Network, the Logan cross-chain bridge function has been launched, and it mainly revolves around two key concepts: phased decentralization and asset selection.

Logan Network currently provides cross-chain bridge functionality for POL tokens and serves POL and KuCoin users by addressing the current lack of interoperability of tokens. POL token holders and KuCoin users will be able to transfer POL tokens between different ecosystems supported by Logan Network.

Logan Network believes that the success of a cross-chain bridge product is as important as its decentralized design and its ecosystem assets.

First, Logan Network will implement decentralization in stages. In the first phase, the project builds cross-chain capabilities on a public chain that supports transferring assets. Abandon the high level of trust required by a centralized organization as a trusted entity and place trust in smart contracts. It not only ensures the credibility, but also has the high efficiency of the centralized method.

In the second phase, Logan Network will expand the larger asset market through its token and decentralized cross-chain bridge based on token governance module guarantees. Projects at this stage will support asset migration and permissionless governance, increasing the cost of attacks. And at this stage, there will be an on-chain governance module to improve the efficiency and scale of the liquidity market. Participants at this time will receive the fees generated by the cross-chain bridge as a reward. The implementation of the second phase will expand the market size on Logan without sacrificing the efficiency of the first phase.

As part of the strategy, the first asset backed by Logan Network is critical to bootstrapping the network. The first asset to be swapped by the cross-chain […]

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