Welcome to a new week of multi-chain world Connextors!
Let’s take a look together what happened in the previous days of Connext Network:
Last week in Connext Ecosystem
Connext Released Amarok AMB Update
Earlier this year, the Amarok network upgrade was announced to overcome limitations in Connext v1. It introduces support for arbitrary message passing, enabling developers to integrate easily into Connext Network to build fully expressive xchain (cross-chain) applications (xApps).
We still strongly believe Nomad is one of the best teams in the bridge space & expect they will emerge stronger from this event. We continue to have a high conviction optimistic bridges will be the dominant bridge type in the future, given their superior security.
Realistically, however, it will take time for Nomad to recover funds and restart its system. The Connext team cannot afford to wait for this to happen as we have ~150 routers, over a dozen dApp teams, and tens of thousands of users waiting for the Amarok upgrade to go live.
Connext Team came up with an alternative approach that only modestly extends our timeline (pending audits). Amarok will temporarily utilize existing AMBs for rollups and sidechains to relay messages and a series of connectors to plug those into one another.
————————————Read the full update here.—————————————
The key design goal of this update is to ensure that protocol, user, router, and developer patterns are as unaffected by this change as possible.
No changes to the protocol: no additional changes will be made to our existing Amarok infrastructure - this means our on-chain contracts and off-chain agents will work with the new messaging system with 0 changes.
No changes for builders: The interfaces and functionality that developers are integrating will remain exactly the same.
No changes for liquidity providers: the experience of providing liquidity either as a router (active liquidity) or user (passive LP into AMMs on each chain) will remain exactly the same.
Connext is in the process of scheduling two audits for the new system as soon as possible and will share additional details as they become available.
Connext Network will be at the Stanford Blockchain Week
Arjun Bhuptani and Layne Haber, Founders of Connext Network, will talk about "Breaking Down Bridge Security Models" at DeFi Security Summit, Stanford University on Aug 27th at 5:30 PM CEST.
Watch the conference live here.
Sarah Brooks, COO of Connext Network will speak at the Crypto Underground event ‘‘Why bet on web3?’’ kicking off during Stanford Blockchain Week on August 30th.
Book for the event here.
Did you try Amarok Testyet?
You can now bridge, run a router, or build on to the newest Connext upgrade.
Read more about the Amarok Testnet here.
Mainnet soon.
As we stabilize and complete the audits, we are keen to move to mainnet as soon as possible.
WEEK #35 BY THE NUMBERS
TOTAL VALUE LOCKED (TVL): $26,100,974
TOTAL VOLUME: $1,183,810,591
TOTAL TXS: 998,729
Check out the full metrics dashboard and routers, leaderboard, and status on ConnextScan.
From the Connext Community
GRANTS
Connext is looking for devs and apps that want to build great things for new cross-chain experiences through Connext.
If you have a team or working as an individual, both are welcome to contribute!
You can explore all grants here.
If you think you’re able to contribute, apply here.
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About Connext Network
Connext powers fast, secure bridging between blockchains and L2s for composable, trust-minimized value.