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Over the past year, Ethereum’s DeFi ecosystem has grown exponentially to a multi-billion dollar market. As Decentralized Finance expands, it is becoming increasingly relevant to have cross-chain connections that allow crypto assets to flow instantly and seamlessly across blockchain networks. These allow DeFi platforms to be an effective alternative to centralized exchanges. Today pNetwork is launching the first EOS to Ethereum cross-chain connection to the EOS crypto asset being moved to Ethereum’s DeFi ecosystem.

EOS on Ethereum

EOS, the native token on the EOS blockchain, is a top20 cryptocurrency based on market capitalization and the engine that powers one of the most active dApps ecosystems. The asset has more than $ 3.5 billion in daily trading volumes, making it the 9th most traded cryptocurrency. Currently only a fraction of the total is done in a decentralized way.

While the DeFi ecosystem is on EOS continues to grow, has not yet reached the size of Ethereum. The latter powers billions in daily trading volumes, with Uniswap the greatest magnifications existing liquidity protocol and the fourth largest DeFi protocol in terms of Total Value Locked.

After the delivery of 26 bridges connecting six different blockchain protocols, including the cross-chain transfer of popular cryptocurrencies such as Bitcoin, Ethereum and Dogecoin, pNetwork is today launching a new cross-chain connection that EOS to Ethereum.

As the first tokenized version of EOSpEOS makes the asset compatible with Ethereum’s DeFi. This creates an advantage on both sides, allowing Ethereum’s DeFi protocols to expand their range of supported and allocated assets EOS the option of being traded decentralized and backed as collateral by major Ethereum-based landing platforms.

Cross-chain connections are critical for a variety of use cases, from NFTs to market making to decentralized indexes such as PieDAO’s Pies. pNetwork-driven asset tokenization on Ethereum allows such indexes to represent the entire crypto market.

All pTokenized assets are 1: 1 linked to their underlying assets and are available for automatic minting or redemption on the pTokens dApp. In addition, pTokens are supported on a variety of DeFi protocols, decentralized exchanges, and wallets on a growing number of blockchains.

Create and Ethereum EOS dApps interoperable

Ethereum and EOS are two of the most active ecosystems for dApps, each with thousands of users. By connecting these two blockchain environments, pNetwork aims to support the growth and development of decentralized applications such as lending / borrowing, trading, derivatives and more. Acting as a cross-chain highway for cryptocurrencies to move smoothly from one blockchain to another, pNetwork supports the first bidirectional connection between the Ethereum and EOS blockchains.

Users of either blockchain can now interact with both ecosystems without ever leaving their blockchain of choice. Projects from both Ethereum and EOS communities have developed building blocks to create the next generation financial system – with the connection between the two, users will find an even more powerful DeFi ecosystem.

Using pNetwork’s cross-chain solution, dApps on the two blockchain platforms now have the opportunity to collaborate. Each ecosystem uses that of its counterpart strengths ultimately creates an advantage on both sides and lays the foundation for durable growth. The presence of one EOS/ETH decentralized trading pair both with Ethereum’s and EOSFor example, the company’s decentralized funding allows market makers to arbitrate between the two blockchains. This results in a more liquid decentralized market for both assets.

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