“The Avalanche Bridge (https://bridge.avax.network/) will expand support for the Bitcoin network, enabling Bitcoin holders to securely transfer their BTC onto the Avalanche public blockchain and use it within Avalanche’s DeFi ecosystem.”
“The Avalanche Bridge has established a seamless, secure, and low-fee rail for users of all sizes to explore Avalanche and the rapidly growing ecosystem of applications on the platform. Avalanche’s unique architecture makes it an ideal on-chain home for institutions who demand high-performance, and I believe opening the rails for Bitcoin will open their eyes to even greater possibilities,” said Nick Mussallem, Head of Product at Ava Labs.”
Just an idea, I think it is in Sovryn’s best interest to create a bridge to Avalanche. Avalanche is now ranked 10th on coinmarket with a market cap of $23 billion. Avalanche is an EVM compatible PoS blockchain which is much faster and secure when compared to ETH and BSC (The current altcoin bridges). I think Avalanche is adding native BTC to its bridge will add serious liquidity to its ecosystem and increased its future odds of succeeding in the future.
Droppr’s roadmap is also set to launch on Avalanche mainnet later in the year. Sovryn along with Droppr and Avalanche could be a suiting fit.
Maybe we should consider using Avalanche as testnet for Sovryn labs as it seems to me its much more scalable than BSC.
This could be an opportunity to reach out to a big crypto project with massive liquidity and huge numbers of developers like Avalanche (assuming they agree) and help increase awareness of Sovryn/RSK ecosystems. Sovryn needs to keep up with the times.
(Disclaimer: I am not a developer, so maybe theres some issues with Avalanche I am not aware. No idea how long and difficult is to add such a bridge.)
Love to hear the developers and the community’s feedback.
To be honest I do not know enough about it, Avalanche or their new bridge. But from what I have seen it makes complete sense to bridge there. There are the usual sticking points though on dev availablity, liquidity for the bridges, maintenance workload etc, which would all need planning into future sprints. All of the upcoming sprints are swamped with Miami, Ecosystem projects like Droppr, Zero, perps and trading updates so this would be later in the year.
Interested to hear more from others on how appropriate the bridge is for Sovryn and possible use cases
I do agree that there is definitely an opportunity to build relationships and partnerships with big actors in the space and Droppr is definitely an open door for further cooperation , whatever that would be.
I think, now more so than ever in light of this development, that it’s finally come time for us to re-acquaint ourselves with the ever-looming elephant in the room: Sovryn’s (self-evidently counter-productive) 0.2% FastBTC tax:-
Personally, my submission is that any and all inbound transfers in excess of 0.01 BTC ought to be funded by the protocol, and sooner rather than later.
I’d welcome such a bridge. Connecting with more ecosystems can bring additional volume to the dapp. I am interested in swingtrading altcoins and converting the profit into btc. Avax would be one of those. Also for Droppr.
BUT there are far more important things that should have priority like ZERO, Perps and Mynt.