Conflux, a permissionless layer-1 public blockchain network in China, has announced the mainnet release of ShuttleFlow, a multi-chain asset solution that enables bi-directional interoperability for digital assets between and across Conflux Network, Ethereum, Binance Smart Chain, Huobi ECO Chain, and OKex Chain.
ShuttleFlow is the first cross-chain bridge to support the blockchain networks of Binance, Huobi, and OKex—the most widely used digital asset exchanges in Asia—in addition to Ethereum.
“The cross-chain circulation of assets issued on multiple chains has drained project developers’ energy and hindered liquidity, which fragments and hurts our industry as a whole. Using Conflux’s high performance, permissionless infrastructure as the foundation, ShuttleFlow is enabling a new level of interoperability between and across multiple chains with a focus on bridging DeFi development between the East and the West.”
– Eden Dhaliwal, Global Managing Director at Conflux
To address the limited cross-chain protocol solutions in the space, ShuttleFlow provides DApp developers with solutions to integrate multi-chain asset deposits and withdrawals at a low cost, while building cross-chain bridges and related infrastructure with Conflux Network as the transit chain; which allows for a high volume of transactions per second without sacrificing decentralization or safety.
Because the Conflux Foundation provides gas fee subsidies for all smart contracts on its chain, users can use contract services on the Conflux Network chain at no cost without holding any CFX. This can also cover the transaction costs of the transit chain.
A testnet version of ShuttleFlow was launched in Q1 2020, acting as the official minting and burning institute of cross-chain assets on Conflux Network, supporting over 49 assets from Bitcoin to Ethereum.
In September 2020, Conflux Network’s first AMM DEX MoonSwap completed the world’s first cross-chain multi-asset migration of digital assets with a total value of over USD $7.6 million. Since then, ShuttleFlow has successfully migrated cross-chain assets with a total value of more than USD $25 million.
