The cross-chain bridge will allow the seamless transfer of assets between the two networks.
Manta Network, the privacy hub for Web3, and Acala have announced the successful cross-chain transfer of parachain assets.
The partnership between Acala’s stablecoin ($aUSD) and ($KAR) will enable crypto assets to move both privately and freely across ecosystems.
According to the press release shared with Coinjournal, the launch of the new HRMP channel and the successful deployment of cross-consensus communication to bridge assets will promote privacy and interoperability across the two parachains.
The privatisation of assets is an important step forward for Manta and Acala as it will lead to the smooth integration of assets across their respective Kurura and Calamari Networks.
Calamari is the canary network of Manta Network, while Karura is the all-in-one DeFi hub of Kusama, which hosts its native asset, a multi-collateralized stablecoin backed by cross-chain assets ($aUSD).
While commenting on this latest development, Manta’s Kenny Li said;
“Collaborating with Acala marks a major milestone for Manta, and the broader Kusama ecosystem. With privacy being paramount to the future development of web3, it’s humbling to be a part of technological successes along the way. Interoperability has always been the name of the game, and this is a big step forward. Now crypto assets including Acala’s stablecoin ($aUSD) and ($KAR) can move privately and freely across ecosystems.”
Manta said following the launch of the XCM integration between Calamari and Karura, its Calamari network will continue to integrate and bridge more parachain assets for privatisation across the Kusama ecosystem.
Thanks to this latest development, Calamari’s native token, $KMA, will also exist on Karura, enabling it to access further functionalities via the various projects launched on Karura.
The KMA token will interact within the Karura ecosystem, accessing various DeFi products for staking, lending and other use cases. Furthermore, native asset transfers from Karura to Calamari Network can be privatised and transferred in a shielded manner from peer to peer.
Acala is a decentralized finance network powering the aUSD ecosystem. aUSD is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem.
Meanwhile, Manta Network is committed to building a better Web3 world through privacy protection.
