Saber & Allbridge Bring HECO Chain Assets to Solana

Users of Saber can now transfer WBTC and USDT assets between the HECO chain and Solana’s network.

By
Anirudh Tiwari
on
November 13, 2021
Category:
Breaking News

Allbridge Improving Solana Utility

Saber and Allbridge announced a collaboration once more to bring Huobi ECO Chain (HECO) assets to the Solana Ecosystem. The addition of the chain can help bring much-needed liquidity to Solana.

The development, announced on Nov. 11 via a Twitter post, will allow the $1.4 billion in HECO DeFi liquidity to interact with decentralized applications (dApps) on the Solana ecosystem. The new Saber pools that would enable this are the Allbridge HECO USDT / USDC and Allbridge HECO BTC / renBTC pools. HECO users can swap Solana native renBTC and Tether (USDT) tokens for transactions within the Solana ecosystem.

“Huobi ECO Chain is a modern smart contracts platform with EVM support and a number of exciting applications, 2,000 TPS, and a 3 second block time. Allbridge is the bridging solution that makes these transfers possible, as they continue to expand to new chains, including Solana, HECO, Binance Smart Chain, Ethereum, Avalanche, CELO, and more. Saber looks forward to continue partnering with Allbridge,” mentioned Saber in their official blog about the announcement.
Source | Allbridge Medium

As previously reported by Solana News, Saber and Allbridge announced their previous collaboration on Oct. 23, when the protocols brought the first Avalanche DAI pool to the Solana ecosystem with the Avalanche DAI - USD Coin (USDC) trading pair. Allbridge has been expanding its token bridge at a rapid pace in the recent few months brings more diverse assets to the Solana network by increasing the cross-chain capabilities of its bridge.

About Saber

Saber is one of the leading decentralized exchanges (DEXs) operating within the Solana ecosystem. Since its launch in June 2021, the DEX has quickly risen to have a total value locked (TVL) of over $1.41 billion, as per data from DeFiLlama. In another significant update reported by SolanaNews, Saber integrated Chainlink’s price feeds onto its DEX to support dApps that use Saber’s Liquidity Provider (LP) tokens.

Find more about the Saber DEX here:

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.