<a href="https://www.wanchain.org/" target="_blank" rel="nofollow noopener">Wanchain</a>, a blockchain interoperability solution, has teamed up with Moonbeam to integrate its cross-chain infrastructure with Moonriver. According to a recent press release, Wanchain and Moonbeam will leverage the partnership to build a multi-chain structure for the DeFi industry.
<h2>Wanchain Integrates With Moonbeam for Cross-Chain DeFi Solution</h2>
Wanchain and Ethereum-based smart contract platform Moonbeam will work together to boost Kusama’s decentralized finance (DeFi) ecosystem. The efforts will materialize on Moonbeam’s community-led sister network Moonriver, which became fully operational last week. Notably, Wanchain will be the first project deployed on Moonriver. 

Explaining the rationale behind the partnership, Wanchain’s Vice President of Business Development, Ni Li, said the company chose Moonbeam due to its focus on developing an Ethereum compatible environment in Polkadot.

“By working closely with Moonbeam, Wanchain’s best-in-class cross-chain infrastructure will connect Polkadot and Moonbeam to the larger cross-chain DeFi world,” he added.

As part of the integration, Wanchain’s infrastructure directly connects Moonriver to other blockchains such as Bitcoin, Ethereum, Litecoin, Binance Smart Chain, and XRP Ledger. Additionally, it also facilitates the movement of assets between different blockchains and Moonriver.

“Wanchain offers bi-directional connectivity options to multiple blockchain ecosystems from Moonriver. This connectivity will provide a rich set of assets to the growing DeFi ecosystem in Kusama and ultimately Polkadot,” Moonbeam founder Derek Yoo commented in the press statement.
<h2>Partnership Aims to Resolve Existing Issues With Decentralized Finance</h2>
<a href="https://www.cryptoknowmics.com/news/celo-sushi-curve-and-aave-introduces-100-million-defi-initiative/">DeFi</a> has single-handedly pushed the crypto industry’s profits to unprecedented highs this year. It has also strengthened the status of Ethereum, which continues to be the default destination for decentralized applications (DApps). Veteran cryptocurrency investor Matthew Roszak estimates that the DeFi industry could be worth $800 billion by the next year.

However, the massive growth in this segment has been limited by the lack of interconnectivity between blockchain networks. Interestingly, Wanchain and Moonbeam are trying to resolve this exact issue through their agreement. And while they are not the first blockchain firms to focus on cross-chain solutions, they’re both committed to developing an interoperable multichain future.

Wanchain Announces Integration With Moonbeam to Boost DeFi Ecosystem

Wanchain, a blockchain interoperability solution has teamed up with Moonbeam to integrate its cross-chain infrastructure with Moonriver to boost DeFi.

Divya is a postgraduate from Jawaharlal Nehru University specializing in International Relations and a professional writer with more than 5 years of experience writing for the web. She is an avid reader interested in the global financial system and the effects of decentralization. At Cryptoknowmics, she hopes to deliver clear and understandable content to inform readers about the latest events in the crypto sector.

Wanchain Announces Integration With Moonbeam to Boost DeFi Ecosystem

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