Celer Network launched late last monthcBridge 2.0 plan, and now we are pleased to announce to you that the cBridge 2.0 testnet is officially launched.

The purpose of cBridge 2.0 is to provide users with a simpler operating experience. It has a highly scalable and sufficiently deep multi-chain liquidity management system, providing users with billions of dollars of cross-chain transfer liquidity every day.

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What does the cBridge2.0 testnet include?

More convenient user experience: In the first phase of cBridge 2.0, users can use the "co-management" liquidity model (for details, please check ourororELI-5 essayfor more details). This means that users can experience a simple one-click cross-chain transfer process.

Brand-new liquidity management experience: In the first phase of cBridge 2.0, liquidity providers (LPs) no longer need to independently run a cBridge node. LPs can delegate their liquidity through co-managed liquidity pools and allow Celer's State Guardian Network (SGN) to use and manage them.

Integrated liquidity mining experience: cBridge 2.0 provides the simplest liquidity mining experience -- for any LP that provides liquidity to the incentive liquidity pool, cBridge will automatically start liquidity mining for them without any Additional LP token pledge.

UI/UX feedback and bug report bounties

Without the valuable feedback and suggestions from our user and developer community, it would not be possible for cBridge 1.0 to reach the current cross-chain total of over $500 million. For cBridge 2.0, our goal is to maximize the user experience when testing the entire system. To this end, we have prepared a simple feedback form to collect any feedback that may be received during the testing process, including UI/ UX feedback and bug reports.

In an ongoing show of appreciation for feedback providers, we're launching a $4,000 incentive campaign. We will be selecting the best 20 feedbacks each week over the next two weeks, and will award $100 to each selected feedback provider. In our weekly wrap-up blog, we not only announce the winners and their feedback, but also share how we plan to improve based on the feedback!

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Before the cBridge2.0 mainnet goes live

With the launch of the cBridge2.0 test network, the launch of the main network is just around the corner. Before we can fully launch, there are a few things we need to complete.

safety is top priority

The past year has seen a plethora of security incidents involving various cross-chain bridges, some of which rank among the largest known hacks in internet history ($600 million stolen). We thought it necessary to talk about some of the unique challenges of cross-chain bridges before introducing our efforts to improve the security level of the cBridge 2.0 mainnet launch.

It is not a coincidence that multi-chain systems have a higher-than-normal rate of hacking, as cross-chain bridges typically consist of on-chain smart contract components and off-chain node/server software that interact with these smart contracts in a decentralized manner. Different token systems interact on multiple chains. Therefore, in addition to the common security risks of smart contracts, cross-chain bridges also expose a series of complex potential dangers in the interaction between off-chain and on-chain. History tells us that these are often the problems.

So, how will we solve these difficulties?

Three independent smart contract security audits. While smart contracts are not the only mission-critical component of a multi-chain system, that doesn't mean it's not important. To this end, we have partnered with three top auditing firms to conduct independent audits of the smart contract components of cBridge 2.0. The audits are ongoing, with two due to be completed within a week and the final one expected in early November. We will announce the audit report to you as soon as we receive it.

Rigorous cross-team review. For all off-chain components, we will conduct rigorous cross-team security reviews to maximize the trustworthiness of the entire system.

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function iteration

We also have several features in the pipeline that will be rolled out during the testnet testing process (this will not prevent the mainnet launch process).

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When will the cBridge2.0 mainnet be launched?

All in all, the main factor determining the launch time of the cBridge2.0 mainnet is the third security audit. Judging from the current situation, we expect the mainnet to go live in mid-to-late November. From the announcement of cBridge 2.0 to its delivery, it took us less than a month. According to the previous plan, the test network was launched on time, and the main network is just around the corner. Please continue to pay attention to our official account to learn more about the subsequent information and progress of cBridge 2.0!