DAM Financial services launches a brand new characteristic enabling cross-chain marketability teleport

    DAM Financial services, a world shared marketability layer introduced on February 6 that its peer-to-peer, multi-chain marketability infrastructure is now dwell on Ethereum and Moonbeam, a Polkadot parachain. 

    The launch means DAM’s omnichain pegged cryptocurrency d2o could also be moved from Ethereum to Moonbeam on Polkadot by way of the peer-to-peer marketability layer, in accordance with a journalism industry launch shared with Brokers on February 6.

    Particularly, the launch represents a vital landmark in DAM’s roadmap, as it’s the first of quite a few multi-network peer-to-peer apps which might be aimed to facilitate worth mobility throughout the fragmented digital belongings panorama.

    Customers now have on the spot entry to native pegged cryptocurrency marketability on Polkadot now that the mainnet is dwell by minting the platform’s d2o pegged cryptocurrency on Ethereum after which seamlessly teleporting it to the Moonbeam community by way of DAM’s peer-to-peer dReservoir protocol. It’s achieved with out the standard bridge threat that may be related to different protocols.

    DAM Co-Founder Harrison Consolation mentioned:

    “DAM is helping accelerate innovation in the digital assets space by providing scalable liquidity ramps between our partners’ preferred sovereign networks. It becomes easier to build and access new solutions as we securely connect Ethereum, Polkadot, and eventually every blockchain.” 

    d2o omnichain pegged cryptocurrency

    Pending, the design of the dReservoir is influenced by the experience of DAM’s contributors in creating enterprise distributed ledger technology functions for the world’s dominant monetary establishments within the areas of central financial institution digital currencies (CBDCs), commerce financial services, and capital markets. 

    With DAM’s infrastructure now totally operational on each networks, will probably be doable to effortlessly transfer Ethereum’s marketability to Moonbeam and, by extension, Polkadot and different parachains. 

    DAM’s first peer-to-peer utility, d2o, is an omnichain pegged cryptocurrency serving to sovereign blockchains scale native marketability. Since d2o is initially backed by USDC, it supplies a safeguarded means for brand new networks and their related initiatives to have entry to pegged cryptocurrency marketability by DAM.

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