Moonbeam, which is a leader in multi-chain applications, takes an immense amount of pleasure in coming out with its official declaration of having successfully incorporated HydraDX. This, in turn, will shift GLMR towards HydraDX. At the same time, HDX will shift towards Moonbeam in the form of xcHDX. The HRMP link, which is two-directional and joins Moonbeam with HydraDX, provides the opportunity for tokens to be able to transfer easily throughout the ecosystem.
HydraDX, as an entity, is an absolute new-age DeFi protocol that has been created with the intention of being able to transfer liquidity to Polkadot through the HydraDX Omnipool. The entity is responsible for lessening liquidity breakup while playing the role of an automated market maker (AMM). This is made achievable by bringing together all of the assets under a sole pool. The projects that are not involved with HydraDx are able to fully utilize XCM for trustlessly connecting with further assets. Subsequently, the doors are opened for Moonbeam applications to avail of the complete benefits provided by AMM.
Cross-chain smart contracts are created with the aim of being able to make provisions for connecting with the activities of distant blockchains. In this regard, Moonbeam plays the part of being the brain behind spot routing liquidity. The entity is linked to eleven para chains with the help of the Polkadot XCM. The other blockchains are Ethereum, as well as Cosmos. This is done with the able assistance of Axelar, Wormhole, and Layer Zero.
Moonbeam, on its own part, takes the help of Ethereum, as well as Polkadot and Cosmos, in addressing the issues related to the broken-up user exposure and opens the doors for real interoperability where the next lot of new-age applications are concerned.
The entity’s platform makes use of incorporated cross-chain messaging to provide developers the opportunity of being able to build smart contracts that get connected with the services offered by various distant blockchains. The entity’s EVM platform, as well as its entire array of tools and its latest Substrate framework, help in bringing about a conducive scenario where the developers of applications are concerned.