Linea releases its new ERC20 token bridge for DeFi apps

Linea has released its new ERC20 token bridge for DeFi applications. The announcement was made on the official X/Twitter account of Linea.

According to the tweet, Linea has partnered with MetaMask, Circle, Transak, and Banxa for the bridge. Besides the bridge, the tweet also teased a limited-time offer for Linea users. 

The launch follows a string of high-profile integrations undertaken by Linea recently. A while ago, the platform joined hands with MetaMask to enable zero-free USDC purchases. Moreover, Linea also wrapped up the launch of its Alpha mainnet recently.

The integration with MetaMask for zero-free USDC transactions was live for a limited period only. Despite being live between August 17 and August 31, the announcement helped Linea attract massive traction.

During the same period, Linea also completed the mainnet launch. Consensys, the technology company behind Linea, launched the L2 blockchain solution’s mainnet in Paris.

The Layer 2 blockchain solution witnessed record on-chain activity with 2.7 million transactions. It became the fastest-growing zkEVM, with 26 million dollars of tokens bridged. It was during this launch that Linea announced its ERC20 token bridge.

Within a month of its launch, the Linea mainnet has amassed 150+ partners. The partners have deployed numerous dApps on the platform, registering 100k+ weekly active users and 2.7 million transactions.

Currently, the blockchain solution is operating at an average of 1.5 transactions per second. On top of that, Linea is only charging 1/15th of the fees charged on the Ethereum mainnet. Since this price is set to shrink even further, Linea is on course to attract more users.

Linea released an official post with the token bridge announcement that stated that maintaining the utmost security is its primary concern. That is why the L2 blockchain solution is actively pursuing progressive enhancements for its system’s decentralization.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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