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DAM Finance launches a new feature enabling cross-chain liquidity teleport

DAM Finance launches a new feature enabling cross-chain liquidity teleport

DAM Finance, a global shared liquidity layer announced on February 6 that its decentralized, multi-chain liquidity infrastructure is now live on Ethereum and Moonbeam, a Polkadot parachain. 

The launch means DAM’s omnichain stablecoin d2o may be moved from Ethereum to Moonbeam on Polkadot via the decentralized liquidity layer, according to a press release shared with Finbold on February 6.

In particular, the launch represents a critical landmark in DAM’s roadmap, as it is the first of numerous multi-network decentralized apps that are aimed to facilitate value mobility across the fragmented digital assets landscape.

Users now have instant access to native stablecoin liquidity on Polkadot now that the mainnet is live by minting the platform’s d2o stablecoin on Ethereum and then seamlessly teleporting it to the Moonbeam network via DAM’s decentralized dReservoir protocol. It is accomplished without the conventional bridge risk that can be associated with other protocols.

DAM Co-Founder Harrison Comfort said:

“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 stablecoin

Meanwhile, the design of the dReservoir is influenced by the expertise of DAM’s contributors in developing enterprise blockchain applications for the world’s leading financial institutions in the areas of central bank digital currencies (CBDCs), trade finance, and capital markets. 

With DAM’s infrastructure now fully operational on both networks, it will be possible to effortlessly move Ethereum’s liquidity to Moonbeam and, by extension, Polkadot and other parachains. 

DAM’s first decentralized application, d2o, is an omnichain stablecoin helping sovereign blockchains scale native liquidity. Since d2o is initially backed by USDC, it provides a safe means for new networks and their associated projects to have access to stablecoin liquidity through DAM.

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