Celer Network recently teamed up with a decentralized exchange platform built on Nervos blockchain, NevDEX. The partnership will see the listing of cBridge stablecoin USDC & USDT to trading pair, and building a cross-chain trading infrastructure with Celer Network.
NevDEX noted that it is very excited about announcing this partnership, as Celer Network’s cBridge user will be able to bridge assets from a variety of different EVM-compatible chains back to Nervos Godwoken and trade at NevDEX.
Benefits of the partnership
Celer Network is a major player in the field of interoperability and ease of use. After all, it acts as a protocol that enables a one-click user experience for accessing NFTs, DeFi, GameFi, governance, tokens, and more — all on different blockchains. It essentially allows the developers to build inter-chain-native dApps using the Celer Inter-chain Messaging Framework.
According to NevDEX, the partnership will provide some much-needed and highly-advanced cross-chain infrastructure that Celer Network has developed. As a consequence, the project will be able to build a robust cross-chain trading experience and use Celer’s IM SDK for cross-chain order book trading further down the road.
The users will see plenty of benefits as well, including the ability to trade assets between Godwoken and different EVM-compilable chains, like Ethereum, Avalanche, Binance Smart Chain, and others.
Of course, NevDEX will support cross-chain order book matching feature, which will allow market and limit orders at Godwoken to match with orders from other EVM-compatible chains, and it will even enable the ability to execute trades, thus giving traders and investors a lot more options and greater liquidity. Simply put, users will be able to place cross-chain orders on the order book, and trade assets between different chains directly, with no need to do tedious cross-chain operations.
How does cBridge help?
NevDEX sees great potential in Celer Network’s cBridge, and it expects that the bridge will help it become the leading decentralized exchange in the DEX sector. After all, cBridge is a decentralized and non-custodial asset bridge that supports over 130 different tokens. It combines over 35 blockchains and layer-2 rollups, and it was built using Celer’s Inter-chain Message Framework.
So far, cBridge has processed over $10 billion in crypto between different chains, servicing over 100,000 unique users. Not only that, but it has been growing constantly ever since it was originally released, both in terms of users and blockchains that it is connected to.
NevDEX aims to combine it with its own service — a DeFi exchange platform that already offers a DEX, yield farming, non-fungible tokens, and more. Not only that, but NevDEX also aims to provide the Nervos Network users with a comprehensive infrastructure that will revolutionize trading. In fact, it means making its service as good and reliable as any CEX while still maintaining the spirit of decentralization, and Celer Network’s cBridge is the next big step towards achieving that.
To learn more about Celer Network, visit our Investing in Celer Network guide.
