Saber and Allbridge Collaborate to Bring First Avalanche DAI pool to Solana

Trading and deposits with the Avalanche DAI - USDC pair are now live on Saber in partnership with Allbridge.

By
Anirudh Tiwari
on
October 24, 2021
Category:
Breaking News

Avalanche DAI / USDC Pool now on Solana

The Avalanche DAI - USD Coin (USDC) pool is now live on Solana with Saber (SBR) tokens as a reward. 

Saber announced the launch of the first Avalanche DAI pool on Solana in a partnership with Allbridge on Oct. 22, via a post on their official Twitter account. The pool enables users to bridge their DAI tokens to Solana and provide liquidity and swap for stablecoins in the Solana ecosystem through Saber.

“Allbridge provides the bridging solution that makes this pool possible, enabling trustless cross-chain exchange between networks like Avalanche, Solana, Ethereum, and Celo. Saber is excited to enable $7.5 Billion in DeFi TVL on Avalanche to interact directly with Solana applications,” mentioned Saber about the collaboration in their official blog
Source: Saber Blog

In another collaboration with Allbridge, earlier this week on Oct. 19, Saber launched the first Avalanche Bitcoin pool on Solana with aaWBTC (Allbridge’s Avalanche Wrapped Bitcoin) and renBTC, the asset bridged directly from the Bitcoin network using the Renbridge. 

As previously reported by Solana.News, Solana.News founder Greg Gotsis, a.k.a. GoonTrades, sat down for a virtual chat with Allbridge co-founder Andriy Velykyv where they discussed a tutorial of how to use Allbridge’s interface. 

About Saber

Saber is the leading Decentralized Exchange (DEX) in the Solana ecosystem. The DeFi protocol has a total value locked (TVL) of over $1.84 billion as per data from DeFiLlama.  As previously reported by Solana.News, the DAI stablecoin was added to Allbridge to enable users to utilize the Ethereum-Solana bridge transfer DAI stablecoins on the Saber DEX.

Find about more the 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.