Orbs Expands to Fantom to Enhance L3 DeFi Capabilities
The next step in the ecosystem expansion involves the Fantom blockchain, a growing force in the decentralized finance industry.
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The Orbs vision is to create broader interoperability between different blockchains and ecosystems. Following its integration with leading Layer-1 and Layer-2 chains – including Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Harmony – the Orbs ecosystem has now expanded to several dozen of the top DeFi platforms and protocols.
Orbs Continues to Push the Boundaries of Multi-Chain Interoperability
As the DeFi industry grows and evolves, the Orbs team looks for new and exciting opportunities. One such opportunity comes through integrating with Fantom, an up-and-coming blockchain in decentralized finance. Fantom offers high speed and throughput combined with smart contract functionality, overcoming limitations holding back blockchains that came before it.
The year 2021 has been exciting for Fantom, as the EVM-compatible environment now has over 100 DApps deployed on the network and the FTM token notes strong momentum in the market cap department.
Moreover, it is the fifth-largest blockchain by DeFi TVL, sitting at over $7.5 billion. Additionally, Fantom has become an ecosystem for existing DeFi protocols to branch out to, including projects like Multichain, Curve, Beefy Binance, and others. The combination of new projects and gaining support from established protocols confirm Fantom’s momentum continues to grow.
Similar growth is present for Orbs, as the excitement surrounding the PoS V3 upgrade continues to build. The major protocol upgrade features multi-chain staking on Ethereum and Polygon, which is a game-changer. Additionally, more Layer-3 applications powered by Orbs have come to market, including the recently launched Open DeFi Notification Protocol and vault aggregator Revault Network.
The expansion of Orbs into the Fantom ecosystem strengthens the ORBS token status as a multi-chain asset integrated into all significant blockchains. Moreover, it paves the way for broader collaborative opportunities with top Fantom-native decentralized finance protocols aiming to leverage Orbs’ L3 capabilities.
Orbs is a public blockchain infrastructure designed for mass usage applications. The Orbs protocol is decentralized and executed by a public network of permissionless validators using Proof-of-Stake (PoS) consensus.
Orbs unique features designed for interoperability with EVM-compatible blockchains, together with its decentralized network of nodes, allow it to be set up as a separate execution layer (“L3” ) operating to enhance the capabilities of EVM smart contracts. By working in conjunction with other L1 and L2 solutions as part of a tiered blockchain stack, Orbs opens up a whole new spectrum of possibilities for DeFi, NFT, Metaverse and GameFi.
The project was founded in 2017 and launched its mainnet and token in March of 2019. Orbs is being developed by a dedicated team of more than 30 people, with offices in Tel Aviv, London, Singapore, Tokyo and Seoul.