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Bender Labs Developers Launch Bridge Between Ethereum and Tezos Blockchains

The Bender Labs project team launched a “bridge” with Ethereum and Tezos blockchains. With the help of the Wrap Protocol, holders of ERC-20 and ERC-721 tokens will be able to interact with the Tezos ecosystem.

The decentralized protocol allows ERC-20 and ERC-721 to be converted to the FA2 standard. The value of wTokens is tied to the underlying assets.

“Tokens are compatible with most of the DeFi protocols on the Tezos blockchain, such as Quipuswap, Atomex or Kolibri,” the message says.

Bender Labs said that the new tool will solve the problem of high fees on the Ethereum network. The protocol will take about one hour to release wTokens.

In October 2020, developers Ethereum Classic Labs and ChainSafe Systems launched a bridge between Ethereum Classic and Ethereum blockchains.

Recall that in April 2021, the NEAR Protocol project introduced the Rainbow Bridge cross-chain solution for moving ERC-20 tokens.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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