Web3 infrastructure provider Biconomy has launched Hyphen – an instant cross-chain transaction infrastructure protocol – on Avalanche to enable faster transfer speeds when using cross-chain bridges.
The Hyphen protocol will allow users to bridge their assets between the Avalanche and Ethereum blockchains alongside supporting bridging between Avalanche and Polygon.
With the introduction of Hyphen, a direct Polygon to Avalanche bridge that does not require the use of ‘wrapped‘, ETH is now available for the first time to DeFi users.
The⚡️fastest⚡️bridge to Avalanche is here!
It takes longer for you to read this tweet than it takes to move @0xPolygon <> @avalancheavax.
Don't believe us? Experience it for yourself: https://t.co/QaBJKX6QoN pic.twitter.com/Vs6xa47Oon
— Biconomy (@biconomy) December 7, 2021
To incentivise bridging using Hyphen, the platform will cover the gas fees for Avalanche and Polygon when using the bridge, and quote two to three times faster transactions over the official Avalanche bridge when using its native AVAX-ETH bridge.
In addition to providing users with the necessary infrastructure to bridge across multiple blockchains, Hyphen will also enable dApp developers to integrate an Ethereum to Avalanche bridge directly into their DeFi protocols.
It is hoped that this feature will “greatly improve onboarding for dApps on Avalanche” by removing the initial roadblocks and difficulties faced by users when using bridges for the first time.
“We’re excited to launch Hyphen on Avalanche, offering its developer community access to different chains that are not currently being supported,” said Ahmed Al-Balaghi, CEO and Co-Founder of Biconomy.
“Hyphen will make Avalanche more accessible to users on Ethereum and Polygon, ensuring greater interoperability across the DeFi ecosystem.”
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