NEAR, an advanced non-EVM blockchain, is now placed live on Router’s Testnet Mandara. Due to Router Nitro, which is their landmark dAPP, users within the NEAR ecosystem will now have the option of shifting test tokens towards and back to NEAR and placing them on various backed chains.
Following the mainnet launch, cross-chain funds will be activated, and asset shifting will occur. Upon the Router Nitro being positioned live on Mainnet, users will gain the opportunity to conveniently shift a line-up of tokens, along with stablecoins, wrapped sheets, and much more, to and from every backed chain on NEAR.
When a user executes a cross-chain transaction of any asset from Ethereum to NEAR, Router Nitro will need the help of three different flows to implement the transaction conveniently. Depending on the sort of token, these will include their foundation Forwarder flow, Circle’ CCTP Flow, or the Mint and Burn flow.
The Forwarder flow functions via trustless bodies called Forwarders. These bodies are fundamentally market makers, offering liquidity at a minimum cost and in turn, improving the capital effectiveness of the bridge.
In addition, Router Nitro employs the Reverse Verification process, which ensures inexpensive and quick transfers. The bridging construction described in this application, which serves as the distinctive characteristic of their chain, has the potential to enhance the performance of many other applications.
The incorporation with NEAR furthers these potentials for the NEAR community via Router Nitro. Currently, users in the NEAR protocol will be able to benefit from these provisions.
Router Nitro is an intent-oriented, modular cross-chain bridge that will be reduced by 60%, functioning on zero TVL, safe, and lightning fast.
NEAR Protocol is a Layer 1 blockchain network that comes with added speed, an increased level of safety features, and endless upgradeability. The NEAR Foundation is a non-profit foundation based in Switzerland. It readily supports the development and running of the network. The foundation comes with an ecosystem fund amounting to roughly $1 billion. This is utilized to further the advancement of its ecosystem. NEAR has received investments from investors like a16z, Coinbase Ventures, Multi Coin Capital, and Hashed.