Decentralized finance platform Infinex will utilize Wormhole’s interoperability technology to strengthen its multichain application.
As per the most recent statement from Infinex, Wormhole’s integration enables Infinex users to make in-app token transfers.
Thanks to Wormhole Connect, the DeFi platform will be able to get rid of the obstacles and difficulties that come with having different chains and tokens.
Conversely, Wormhole Queries enables developers to take advantage of on-demand retrieval of on-chain data across chains.
Driving multichain DeFi innovation
Users of DeFi now have multichain access thanks to the Wormhole connection, with liquidity across 30 of the most popular blockchain networks.
Wormhole is an interoperability solution several industry participants use; Infinex will benefit from its low costs and comprehensive security.
These include the decentralized exchange Uniswap, the asset management behemoth BlackRock, the stablecoin issuer Circle, and the digital assets securities platform Securitize.
With the approach, assets stranded on chains incompatible with the Base Ethereum Virtual Machine may be easily recovered, and account states can be securely synchronized with just one transaction.
This implies that Infinex users can recover non-USDC cash from different networks. Infinex presently supports Base and Arbitrum among six EVM and non-EVM networks in addition to Solana.
In addition, the platform provides access to governance coins and non-fungible tokens. Through a recent NFT sale, the platform raised nearly $65.2 million. Important participants in the business, such as Framework Ventures, Solana Ventures, Moonrock Capital, and Wintermute, participated in the fundraising.
