InterFlux is an important development for Stratis, bridging the gap between Stratis Blockchain Technologies and other popular Blockchain platforms, such as Ethereum. This functionality was first introduced last year when the wSTRAX (Wrapped STRAX) contract was created on Ethereum, enabling the seamless exchange of STRAX to a ‘wrapped’ ERC20 equivalent; this development enabled STRAX holders to utilize Ethereum-based DeFi protocols, such as UniSwap.
Further development of InterFlux has enabled bi-directional transfers of ERC20 Tokens to SRC20 Tokens. This is crucial in providing a genuine scaling solution for Ethereum and creating a more diverse ecosystem within Stratis through the ability to leverage well-established and liquid tokens, such as USDT and wBTC (Wrapped Bitcoin).
The availability of additional tokens that offer rich liquidity is also a benefit to Opdex, the first platform that delivers decentralized exchange protocols in the Stratis ecosystem. Users of the Opdex protocols will leverage these tokens in liquidity pools, enabling efficient, trustless and decentralized swaps of the Cirrus Token to popular tokens on Ethereum. This provides additional utility for the Cirrus Token and an attractive alternative to popular DeFi protocols such as Uniswap, thanks to the significant reduction in gas costs when transacting on Opdex and within the Stratis ecosystem. Additionally, the Stratis ecosystem is well-known for its high levels of decentralization, paired with a genuinely reduced carbon footprint, thanks to the employment of the energy-efficient Proof-of-Authority consensus algorithm.
A total of six ERC20 Tokens will be supported and available through the InterFlux Bridge; the list of supported tokens will continue to grow through community demand and market sentiment.
Supported Tokens at Launch
If you’re interested in Stratis supporting additional tokens, please head over to our Discord and discuss with the active community which tokens you want to see supported by InterFlux in the future.
The InterFlux Bridge will be updated on Wednesday, 9th March, to support the above tokens. In addition, an updated version of Cirrus Core will be unveiled, offering support for exchanging back to ERC20 for those that wish to do so. It truly is an exciting time at Stratis; with the recent success of the first commissionless NFT Platform and the further development of our interoperability solution, it’s great to see Stratis making significant advancements in the first quarter of 2022.