Acala and Manta Announce Successful Calamari and Karura Connectivity
- XCM integration between Calamari and Karura will initiate parachain bridging across Kusama.
- DApps on Polkadot and Kusama will expand concrete use-cases for stablecoins.
The successful cross-chain transfer of parachain assets has been announced by Manta Network and Acala to establish a new HRMP channel, as well as the effective implementation of cross-consensus communication to bridge assets, which will allow for privacy and interoperability across both parachains.
The Altair @KaruraNetwork HRMP channel ?????? ????????!
— Altair (@altair_network) June 1, 2022
This channel enables XCM, allowing for XCM transfers cross-chain.
The devs are now close to opening up a AIR / aUSD swap on Karura utilizing this capability
Kurura and Calamari Networks
The privatization of assets is a significant step forward for projects, ecosystem development, and privacy in general. Also another step toward combining their Kurura and Calamari Networks, Calamari is Manta Network’s canary network and Karura is Kusama’s all-in-one DeFi hub, where its native asset, a multi-collateralized stablecoin backed by cross-chain assets ($aUSD), is hosted.
Calamari’s native token, $KMA, will be available on Karura allowing users to access additional functionality through multiple projects that have been launched on the platform. The Calamari XCM integration with Karura will connect assets across both parachains. The Calamari Network’s parachain asset ($KMA) will interface with the Karura ecosystem, allowing users to access a range of DeFi products for staking, lending, and other purposes. Native asset transfers from Karura to the Calamari Network can be privatized and transferred from peer to peer in a secure manner.
Manta’s collaboration with Acala is a milestone for the Kusama ecosystem. It’s great to be a part of technological achievements especially with privacy being so important to the future development of web3. Now crypto assets, such as Acala’s stablecoin ($aUSD) and ($KAR), can transfer privately and freely across ecosystems.
Acala and Manta Network, along with seven other Polkadot parachain projects, announced the launch of a $250 million aUSD Ecosystem Fund in March 2022 to fund early-stage startups developing apps with strong stablecoin use cases on either Polkadot or Kusama parachain.
Read more: https://thenewscrypto.com/acala-and-manta-announce-successful-calamari-and-karura-connectivity/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
