Ozys Integrates ICON as a Destination Chain in the Orbit Bridge

We are excited to announce that the Ozys P-Rep team is integrating ICON into the Orbit Bridge, a Proof of Authority interoperability protocol based out of South Korea. The Orbit Bridge integration has already been completed on ICON’s test net, with the main net integration coming within one month. The Ozys P-Rep team worked quickly and efficiently to integrate ICON into the Orbit Bridge and we look forward to continuing to work together toward the success of both projects.

This integration brings more value to the ICON Network, specifically the DeFi ecosystem. As blockchain technology continues to progress, there will be a number of different ways to bridge assets between different networks. For example, we expect to see Orbit Ethereum and BTP Ethereum on ICON 2.0. This brings more economic activity to the ICON Network as traders can take advantage of arbitrage opportunities and ICON DeFi projects can enable borrowing and lending of assets across different networks and across different bridges. Ultimately this all leads to more transactions and more value exchange on the ICON Network.

Orbit Bridge is already in production with two other blockchains, and ICON will be the third. This integration will support the following Ethereum-based assets to be transferred to the ICON Network, with the potential to add more in the future.

  • Orbit Chain — ORC
  • Ethereum — ETH
  • Tether — USDT
  • USD Coin — USDC
  • Wrapped Bitcoin — WBTC
  • MakerDAO Stablecoin — DAI
  • Ren Project — REN
  • Band Protocol — BAND
  • Ocean Protocol — OCEAN
  • Chainlink — LINK
  • OmiseGo — OMG
  • Universal Market Access — UMA
  • Loopring — LRC
  • Reserve — RSR
  • Aragon — ANT

As part of this exciting integration, ICONPOOL will be adding liquidity pools for these assets and pairing them with ICX. Some tokens will also have Liquidity Mining programs and may also be included in ICON’s upcoming DeFi products when they launch in Q1 of 2021. Details on how to participate in the liquidity mining programs will be released at a later date, so please stay tuned!

The Orbit Bridge integration is an exciting next step for the growth of the ICON DeFi Ecosystem and we look forward to bringing this technology to the community.

Thank you,

The ICON Team

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