[GF: Phase 0 Proposal] Connext

📜 Grant Proposals Governance Fund: Phase 0
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Hi @maxlomu! It’s been several months since your OP grant was distributed, checking in to see if you have a grant update you can share with the community?

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Hi @lavande thanks for following up.

Since the original proposal, we had some delays in the product development of our Amarok upgrade - which is now complete!

  • We have decoupled from Nomad, and instead upgraded to a fully modular architecture to achieve the maximum possible security on crosschain communication: Connext AMB Update.
    TL;DR: Connext now leverages native connections with Ethereum (ex: the native bridge Optimism-Ethereum) to move tokens and data across chains. This guarantees that no additional trust assumptions are added on top of the connected chains, drastically increasing the security of the whole infrastructure. Our liquidity layer has not changed, so our plan with the AMM outlined in the first post remains valid.

  • We are now soft launching the Connext upgrade. This week some liquidity has been added for test transactions, and we’ll proceed next week with a liquidity bootstrapping phase: Road to public launch

  • When everything is operational, we will begin implementing our proposal above.

  • We are seeking further alignment with the Optimism Collective, and wrote a proposal for delegation: Protocol Delegation Self-Nominations - #14 by maxlomu

Hope this helps clarify the status.
I’ll post an update here as soon as we start the liquidity program with $OP.

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good proposal thanks. It’s not so long now

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I am thrilled to see Connext and Optimism working together. In my experience, Optimism is the best L2 project I have ever used, and I have been actively participating in its governance. Similarly, Connext is the best bridge I have used and I currently contribute to its development. I fully understand the potential benefits of their collaboration and am eagerly looking forward to it. I am also willing to do my part in promoting the growth of both projects.

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hello and greetings,
I read your proposal here, and I should admit your application which I use it mainly for bridging is one of the most trustable among other competitors. However, I need to mention that if you could diversify the options for tokens to be bridged between blockchains, it can help us to work with your application vastly.
for example, one of the problems that I have been facing recently was bridging the BNB tokens from Polygon to the BNB chain. Since, your bridging application bridge.connext.network/ was limited only to USDC, I needed to first swap and then bridge, which the gas fee turned out a lot. This made me just buy the BNB token on the BNB chain instead of bridging.
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I would be appreciated if you can find a solution to this. Thank you

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Hey there!
Thanks for sharing your feedback, and glad you prefer Connext as the most secure Option <3 :
with the new upgrade, we need to bootstrap liquidity for every token* on every chain, so we have preferred to concentrate the liquidity on ETH and USDC only.

In the coming weeks we will be launching the new pools with additional tokens (USDT and DAI for sure), and continuously evaluate which other tokens it makes sense to add. I’ll include BNB in our evaluation session!

*this is not the case for native crosschain tokens! These tokens, built with Connext, can securely move across any chain with 0 slippage and no need for AMMs. Stay tuned for more…

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