Zelcore Technologies and eckoDAO have joined hands to bring the Fusion Bridge into the ecosystem of Kadena. The objective is to fuel the evolution of the ecosystem with an indispensable tool that the community has been waiting for a long time.
It comes as a response to the growing demands of the blockchain sphere, motivating ventures to pursue transforming measures to better support the rise of digital assets.
Fusion Bridge is expected to be launched in November 2023. A definite date is yet to be announced; however, it has been clarified that the integration with the Kadena ecosystem will happen in the next 30 days. It will back the introduction of zUSD to guide the growth of the ecosystem. eckoDAO has said that this is a major milestone not only for all the partners in this endeavor but for the entire DeFi segment.
Fusion Bridge is a direct result of the mutual trust that Zelcore and eckoDAO have among themselves. Zelcore is contributing to this partnership with its Zelcore Wallet. Thereby, it is responsible for overseeing the operations of the bridge.
zUSD is listed alongside other stablecoins. Zelcore and eckoDAO are collaborating to capitalize on the functionalities that stablecoins impart to the digital asset sector. Stablecoins, on the other hand, are unaffected by volatility because they are 1:1 backed by the US dollar. zUSD will possess every characteristic of a stablecoin, including:-
- Enhancing DeFi capabilities
- Boosting the growth of Kadena’s ecosystem
- Facilitating seamless transactions
It is essential to note that while the current release of Fusion Bridge will include all of its main features, it will continue to undergo development in the future. Zelcore Labs has validated a portion of this statement, confirming that forthcoming stages will encompass the bridge’s expansion to optimize functionality and convenience. Additionally, it will provide users with a variety of entry and departure points.
The announcement has been received with better effects on the native token of the ecosystem, KDA. It was trading at $0.5958 at the time of articulating this piece. This is an increase of ~2.98% in the last 24 hours and ~15.29% in the last 7 days; that is one week. According to Kadena prediction, the token could touch the mark of $1.38 by the end of this year. The minimum it can go is $0.57.
zUSD, a stablecoin, brings stability to the volatile space by being pegged to the US dollar in a 1:1 ratio. This aligns with the footsteps of USDC, which is a reliable medium for storing value and exchange. It enhances capabilities by thriving in interoperability and integration. Kadena gains access to a larger liquidity pool without leveraging CEXs.
Stablecoin transactions are efficient and economical. As a result, improved methods for conducting transactions on the network are provided. Lastly, it is anticipated that zUSD will serve as a growth catalyst via the DeFi primitive.