Octus Bridge is continuously emerging as an innovative solution for seamless cross-chain asset transfers between various networks. Last month, the Broxus team implemented a massive update to Octus Bridge, making it even more friendly and economically efficient for users, and we'd like to elaborate more on that.
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Let's find out what changes have been made and how they affect the overall performance and UX.
Multivaults
The latest update to the Octus Bridge platform includes the introduction of MultiVaults. Each EVM network now has a Multivault, and all MultiVaults have the same address across all networks: 0x54c55369a6900731d22eacb0df7c0253cf19dfff
Now, anyone who has integrations with OctusBridge Vaults will need to switch to MultiVaults.
Cross-chain transfers using only one coin, regardless of whether the user has funds on the destination network to cover fees
With the new update, OctusBridge has become an advanced platform for making cross-chain transfers with gas payments using one type of coin each way. It is now possible to pay for a release transfer on the destination network using the ingoing network tokens.
For example, if a user wants to transfer BNB from the BNB chain to Everscale but lacks EVER in the destination account to pay for gas, the gas fee can be paid in BNB without requiring any complicated actions from the user. All of this happens in the same interface with a single click.
As you can see in the screenshot below, if a user lacks native coins of the destination chain in their account (in this case EVER), all they need to do is click on the slider and pay for gas in the outgoing token (here BNB).
Onboarding new users to the ecosystem is easier than ever
Another great feature that enhances the UX is receiving EVER via cross-chain transfers. For example, let’s say a user has 0.3 BNB on their account and would like to transfer half of it (0.15 BNB) to Everscale, and with the second half buy some EVER. First of all, the user can pay for gas using the incoming network coin (here it's BNB), removing the need to pay gas in EVER, and also they will receive EVER tokens in the amount they would like. Right now, this feature is only available for the Everscale network, but Broxus will add support for other networks in future.
This makes the onboarding process much easier for users who are new to the ecosystem. It is possible to simply transfer any tokens from chains connected to OctusBridge and receive native EVER to Everscale wallets, and all of this takes place in a trustless way in less than a couple of minutes.
Summary
With this new update, new users can be onboarded to the Everscale ecosystem far more easily. Now, only tokens from the incoming network are needed to make liquidity transfers to Everscale, and OctusBridge takes care of the rest.
Users can simply send any amount of tokens from connected networks to Everscale and set the minimum required amount of EVER to be received, not worrying about acquiring EVER through other means, such as centralized exchanges or elsewhere.
Additionally, the finalization of cross-chain transfers no longer depends on the number of coins users have on their end. This allows them to explore the world of blockchains connected to OctusBridge without any obstacles.
Moreover, the new functionality will be utilized by OctusBridge-based dApp creators to provide more seamless interaction in the blockchain space, attracting newcomers and bringing mass adoption of the technology closer for everyone.
If you have any questions or feedback regarding OctusBridge or other Broxus products, please reach out the Broxus Telegram chat. The team will be happy to respond.
