As digital asset markets endure a broad pullback, cross-chain bridge protocol Ren has introduced integrations with EMV-compatible chains Fantom and Polygon that might bolster liquidity throughout the DeFi ecosystem. 

In a weblog publish on Friday, Ren introduced that the RenVM bridge now helps the trustless switch of 4 widespread cryptocurrencies to Fantom, together with Bitcoin, DOGE, and ZEC. Three extra Fantom bridge belongings are incoming as properly, together with Filecoin and LUNA. Likewise, in a publish on Wednesday, Ren introduced an analogous seven-asset integration with Polygon:

The Fantom announcement additionally famous that Ren is “presently engaged on including Ren-based belongings to Curve, QuickSwap, BadgerDAO, and past.” Whereas Ren serves as a bridge between chains, a recent collaboration with BadgerDAO on Ethereum demonstrated {that a} partnership with a DeFi protocol can drive protocol charges and quantity for all events. In Badger’s case, one-click bridge-and-deposit performance has pushed Badger’s WBTC vault to 1 / 4 billion in TVL. 

Per BadgerDAO’s Chris Spadafora, $150 million in BTC has already handed by means of the joint protocol bridge.

Sidechains like Fantom and Polygon have change into more and more in-demand in latest months as builders, traders, and farmers search for ways to escape Ethereum’s high gas fees. Previous to the latest market hunch, EMV-compatible chains played host to implementations of major Ethereum-native DeFi protocols, and sidechain tokens like MATIC have confirmed to be among the many most resilient to the recent bearish price action

A preferred Fantom group account hailed the trustless bridge because the “holy grail” for the chain, noting that the bridge has the potential to considerably bolster whole worth locked (TVL) metrics for Fantom’s numerous DeFi protocols, together with SushiSwap, Curve, and C.R.E.A.M.

“The addition of Fantom will vastly profit every protocol by bringing extra utility to Fantom and much more velocity by means of RenVM,” stated Ren COO Michael Burgess in a weblog post. “We couldn’t be extra excited for this to go reside, because it’ll assist bolster utility for the whole DeFi ecosystem.”