By introducing native ETH and wstETH transfer software onto the platform, Wormhole has revolutionized the movement of ETH and wstETH across various EVM-oriented networks, paving the way for increased liquidity and cost-effectiveness in the crypto industry.
This innovative feature, built on top of Uniswap v3, is set to transform the transfer of ETH and wstETH across different EVM-based networks, ensuring efficiency and liquidity like never before. Gas-free transfers on the destination chain make the process exceptionally intuitive and user-friendly, positioning Wormhole as a game-changer in the industry.
The introduction of a single xETH/wETH pool on each blockchain enables seamless transactions between wrapped (local) ether and xETH (wormhole ether). Utilizing Uniswap v3’s standard pool operations, participants are encouraged to provide liquidity using their preferred method, resulting in concentrated liquidity at the center. Additionally, the platform offers cost-efficient options for users engaging in transactions, such as exchanging ETH from Optimism to Base through Wormhole xETH on Uniswap.
With native-to-native ETH transfers now supported on platforms like Ethereum, Arbitrum, Optimism, BNB Chain, Avalanche, and Polygon, and native-to-native Lido wstETH transactions available on Ethereum, Arbitrum, Optimism, Polygon, and Base, Wormhole has positioned itself as the preeminent interoperability platform in the industry.
This enhanced network opens up opportunities for developers to create scalable bridges and multichain applications, facilitating connections with liquidity and consumers across over thirty prominent blockchain networks. As a result, applications across DeFi, NFTs, governance, and more can be generated, contributing to the growth and development of the crypto industry.
In collaboration with industry leaders like Circle and Uniswap, Wormhole has facilitated the transfer of over $35 billion and utilized over 900 million cross-chain messages, solidifying its position as a dependable and indispensable element of the crypto landscape.
