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Polyhedra Network Bitcoin interoperability protocol secures another $3 billion in crypto-economic security from ether.fi
2024-04-05 23:47
Odaily News Following its cooperation with Renzo and Swell, Polyhedra Network announced a strategic cooperation with ether.fi. Polyhedra Network enables a trust-minimized interoperability protocol between the Bitcoin network and other blockchain systems through its zkBridge technology and EigenLayer Active Verification Service (AVS), for which ether.fi further powers the $3 billion crypto economy Safety. Currently, Polyhedras Bitcoin interoperability protocol has secured more than $5.3 billion in crypto-economic security, jointly supported by ether.fi, Renzo, and Swells LRT. In addition, its double pledge mechanism also allows future pledgers of ZK tokens (Polyhedras native token) in its AVS to also receive benefits from its Bitcoin interoperability protocol. ether.fi will use Polyhedra as its default decentralized validator network (DVN) on LayerZero to improve the security and efficiency of the protocol. In the future, pledgers of ZK tokens will have the opportunity to receive US$500,000 in ETHFI token rewards.