Celer Network – What’s New?

The Celer Network has undergone major upgrades and made some significant announcements over the last few months. This decentralized full tech stack blockchain infrastructure provider offers developers the ability to bridge liquidity and leverage a multi-chain ecosystem. As such, it remains an interesting platform for traders to watch. Here are some of the vital upgrades that the Celer Network has added.

Power Message

The Celer Network partnered with the Oasis Network to integrate a multichain bridge between Oasis Saphire and EVM networks. Notably, Oasis is the premier confidential EVM network currently which makes it the ideal partner for Celer to work with on the integration. Oasis seeks to use the tech to enable developers to leverage confidential data on public applications.

The system integrates the Celer IM network to accomplish the task. The upgrade makes it possible for smart contracts written in the popular coding language Solidity to operate on the Celer and Oasis blockchains. It also facilitates the seamless transfer of data and value to support the use of privacy-centric apps.

The Celer IM enables the system to store data on Oasis Sapphire as a confidential NFT/SBT. This setup brings many advantages such as the ability for the seller to grant or revoke access to the data held on the NFT. Best of all, the technology can be used across most EVM-compatible networks without any third-party networks required.

Cross Chain Yield Farming

Cross Chain yield farming is another upgrade made to the Celer network recently. This upgrade leverages the systems of the Ariandne protocol to enable cross-chain capabilities. The platform provides an intuitive interface that streamlines the farming process and makes it simple to track and participate in pools on different blockchains.

The Celer IM protocol plays a vital role in this process as it enables users to leverage single-click executions and save on fees when entering or leaving farming pools. Currently, farmers can participate in Polygon, Optimism, BNB Chain, and Fantom Pools. Farming is like staking but there are no lockup periods and the APY varies.

The reason it's called farming is that the best farmers need to tend to their tokens and move them to and from the highest-paying pools to get the best ROIs. Unlike staking, there are no lockup periods or early withdrawal penalties. The added flexibility makes farming ideal for those seeking a more hands-on approach to securing rewards for providing liquidity to smart contracts.

Aura Support

Another major integration that occurred for Celer users is the cbridge release for the aura network. The cbridge will allow Celer users to leverage aspects of the layer 1 Aura blockchain when creating. The Aura network is an NFT-centric protocol designed to streamline the core process of mining and monitoring digital assets.

The first step of the integration will include the launch of an AURA and USDC bridge. According to company documentation, the network leverages a lock-asset approach. This structure means that the original asset is locked in a smart contract and another corresponding digital asset is minted on the new chain.

This style of digital asset is also referred to as a wrapped token. Wrapped tokens have been gaining in popularity because they enable users to enjoy a higher level of interoperability in the market. Enabling Aura and Celer users to benefit from the options will help to drive both communities closer which should work to promote innovation and integration.

Filecoin Support Announced

Filecoin, the distributed file-sharing platform, recently announced that it would be adding support for the cbridge and Celer IM protocols. The integration would enable the Filecoin Virtual Machine (FVM) to leverage these technologies to support cross-chain bridging of assets. The integration added support for the integration of USDC, WETH, WBTC, and USDT between the FVM and Ethereum ecosystems. The added flexibility helps to improve Filecoin's flexibility which should help drive further adoption.

Injective Astar Bridging

Astar enjoyed a vital interoperability upgrade as Celer provided support for the bridging of Injective blockchain assets. Injective is the fastest and one of the most popular Dapps in the Cosmos ecosystem. It's also the largest in terms of TVL (total value locked). The integration will enable INJ, ATOM, ASTR, and DOT to seamlessly use their tokens with Injective and Astar.

The maneuver was met with praise as it also supports interoperability between the larger Cosmos and Polkadot blockchain ecosystems. The developers envision the system helping dapp creators improve their finality and lower operating cost. To accomplish the task, the two tokens are issued using the XC20 standard on Astar as xcINJ and xcATOM.

Partners with Polygon

Celer partnered with one of the best-known enterprise-grade infrastructure providers in the market recently, Polygon. The goal of the partnership was to integrate a more advanced liquidity model. This system improves interoperability between Ether and Polygon assets significantly.

Users can transfer assets from ETH to Polygon EVM and other blockchains using the protocol securely. Specifically, the system supports Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, Avalanche, and Fantom. In the future, the developers plan to expand the features to even more blockchains.

Speaking on the integration, Celer developers noted that they were very excited to help bring together two of the most active blockchain communities in the market, referring to Cosmos and Polkadot. In the coming months, the team will unveil a sophisticated generic message-passing integration that will further streamline the processes.

Celer – A Crucial Component of the Blockchain Sector

You can tell from the upgrades and partnerships Celer managed to secure that the protocol is fulfilling its role to improve interoperability in the community. Celer remains a top option for Blockchain teams seeking to expand their reach and liquidity. The network's commitment to security and scalability has helped it to remain a project to watch.

You can expect to hear more from this innovative team as they continue making strategic partnerships and adding new features to entice new users to the ecosystem. Click here to learn more about Celer.