Orbiter Finance Surpasses Earnings with $52.7M Annual Revenue
Orbiter Finance, a decentralized cross-bridge rollup project, recently announced that it has generated $52.7 million in annual revenue from its cross-chain bridging protocol. This impressive figure surpasses the combined earnings of all other third-party cross-chain bridges. According to TokenTerminal data, this revenue significantly exceeds the $39 million earnings of other similar projects for the same period.
Low Gas Fees Fuel Growth to 24M Transactions
One of the key features that users appreciate about Orbiter is its low gas fees. This is particularly noteworthy when compared to the high transaction costs on the Ethereum mainnet. The protocol has processed over 24 million transactions to date, with a transaction volume exceeding $16 billion. With more than 4 million users globally, Orbiter Finance continues to see growth and adoption.
Orbiter Bridge Was Born During DeFi Hype
The Orbiter Bridge project began during the height of the DeFi hype, with the team recognizing the potential of Layer 2 transactions. Despite initial skepticism about the adoption of ZK technology in blockchain, the team conducted thorough research and determined that this technology could drive industry progress. This led to the launch of the first ZK bridge on the market, attracting users organically even when venture capitalists were hesitant about the vision.
Looking ahead, Orbiter plans to enhance its bridge with Vizing, a ZK-based omnichain interoperability layer. This will enable liquidity consolidation from rollups for shared incentives and batch together ZK-proofs for submission, allowing for quick integration with various chains while maintaining security.
Hot Take: Orbiter Finance Paving the Way for Decentralized Cross-Bridge Solutions
As decentralized finance continues to evolve, projects like Orbiter Finance are paving the way for innovative cross-chain bridging solutions. With a focus on low gas fees, high transaction volumes, and user-friendly features, Orbiter Finance is positioning itself as a leader in the industry. Stay tuned for more updates and developments from Orbiter Finance as it continues to drive progress in the crypto space.
Sources:
– TokenTerminal data
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