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The B-Harvest team will rebrand the Gravity DEX cross-chain protocol based on the Cosmos Hub blockchain. CoinDesk reported that the platform will be renamed Crescent and smart contracts
The B-Harvest team will rebrand the Gravity DEX cross-chain protocol based on the Cosmos Hub blockchain. CoinDesk reported that the platform will be renamed Crescent and smart contracts will be relaunched on the network of the same name.
Gravity DEX was released in July 2021. The solution allows you to make cross-chain swaps and create liquidity pools with tokens of any blockchain connected to the Cosmos ecosystem.
The protocol is used by the Emeris platform. Second, in “single window” mode, it provides access to a wide variety of DeFi applications, from landing to payout. At the time of writing, they have less than $5 million in assets in liquidity pools.
On March 28, 2022, the community supported B-Harvest’s proposal to move the project to a separate Crescent Network blockchain. According to the developers, this step will increase the decentralization of the control and security of the protocol and increase its functionality.
Mainnet Initialization D-7
The Crescent Ethos is now up for discussion.
Become part of Moonrise.https://t.co/iUs0HVkGZK— Crescent Network (@CrescentHub) April 8, 2022
The project team will launch a decentralized exchange that will use a hybrid order book engine and an automated market maker. At first, the platform will not charge commissions.
The new DEX will also offer cross-chain loan services.
The nonprofit Crescent Foundation will develop the Crescent Network. One of their first steps would be to examine cross-chain bridges that claim to be linked to evaluate their safety and cost-effectiveness.
In his conversation with the broadcast, the B-Harvest representative stated that the old version of the protocol on Cosmos Hub will continue to work, but users will be offered a reward for transferring assets to new liquidity pools.
The launch of Crescent Network is scheduled for April 14, 2022.
In April 2021, B-Harvest was acquired by Cosmos, the company behind the development of Ignite (formerly Tendermint).
Recall that in March 2022 the Evmos EVM compatible protocol team at Cosmos announced the restart of the project.
Source: Fork Log
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