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Wanchain has been gaining traction since 2017 by building an infrastructure that links blockchain networks that rely on interoperability. Wanchain’s CEO, Jack Lu, made it clear after successfully unveiling its new alliance with XRP that their platform has much bigger ambitions for the future.
“We are not looking at the private chains right now, we are integrating a lot of public chains like Bitcoin and are looking at enterprise solutions as well. Eventually, we’ll connect all of them together and bridging the gap between the traditional financial world and the new decentralized world.”
“A lot of chains, including Polkadot and Litecoin, have been lined up,” Lu said, shedding light on the company’s existing and potential collaborations. Indeed, several of the top chains are on our list, and we are trying to add more.”
Highlighting their latest deal with XRP, Wanchain’s official statement said,
“XRP holders can now securely use their XRP to farm, mine and provide liquidity rather than simply leaving their tokens, inactive, in wallets and exchanges. XRP tokens can now, finally, engage with DeFi applications and reach their full potential.”
Wanchain currently has a number of DeFi applications in place to support liquidity mining and yield farming for XRP holders. Users should submit their XRP to Wanchain’s decentralised exchange, Wanswap, and trade with the three pairs that are already available to practise liquidity mining. Holders will farm their XRP by putting it in the positive pair, which currently yields between 70 and 90 percent.
During the interview, Lu said that over one million XRP had been transferred from the ledger to Wanchain and that 1600 transactions had been successfully completed.
Users can now transfer their XRP over the Wanchain and Ethereum networks, thanks to the opening of three bridges.
“They can participate in DeFi applications on Wanchain and can move their XRP on the other bridges including Ethereum, or other chains to participate in the high yielding DeFi applications.”