what's Hyperbridge?
Hyperbridge is a Polkadot parachain designed as an interoperability coprocessor, enabling secure cross-chain communication between blockchains like Ethereum L2s, BNB, and others. It leverages Polkadot's consensus for over $3B in economic security and aggregates cross-chain messages into a single zk-proof for on-chain verification, eliminating reliance on trusted third parties or multisigs that have led to past bridge exploits. The $BRIDGE token powers the network, securing the chain, rewarding relayers, covering fees, enabling priority transactions, and supporting governance and incentives. Relayers operate permissionlessly, incentivized by fees, while developers use SDKs for seamless cross-chain messaging.
Hyperbridge launched a points program with airdrop rewards for cross-chain swaps and referrals.
Links
x.com/hyperbridgeExperienced service outage due to technical mismatch in proof verification, causing bridge to pause cross-chain asset and data transfers; issue resolved and access restored.
Points program launches with airdrop rewards for cross-chain swapping activity and referrals.
7-day active user growth reaches 93.8%, indicating accelerating protocol adoption.
Partnership with Bifrost achieves 21M+ DOT minted, growing from 1M DOT treasury loan in DeFi Singularity Campaign.
Collators must bond 200,000 $BRIDGE tokens to participate in consensus and earn transaction fees and block rewards, while token holders gain governance rights over protocol upgrades and chain integrations.
Liquidity providers earn 100%+ APY in DOT pools until November 25, with additional 10-15% APR through Bifrost's vDOT liquid staking integration.
Protocol faces structural challenges due to lack of incentive mechanisms in core design.
Polkadot DAO allocates $3M for 12-month cross-chain DOT liquidity campaign with 15% DOT and 2% ETH rewards for LPs.
DOT/ETH liquidity pools now live on BNB Chain, Arbitrum, Base, and Ethereum mainnet with DOT incentives program approved through Polkadot governance to deepen cross-chain liquidity.
Trademark registration of name creates potential legal conflict with LayerZero Core team.
LayerZero launches HyperBridge with USDT0 now live on HyperEVM platform.
New approach to cross-chain bridging aiming to address vulnerability issues that have cost conventional bridges billions.
Extended token sale deadline to February 28th, 2025 after selling 52M tokens. Mainnet and token bridge already live with integrations across Ethereum and BNB Chain. Token Generation Event planned for Q1 2025.
Announced as first trustless bridge connecting Polkadot with Ethereum, Optimism, Arbitrum, Base, BNB, and Gnosis. Leverages $7.5B Polkadot economic security.
Launched mainnet. Described as Polkadot rollup and first trust-free cross-chain bridge.