A NEW CHAPTER IN CROSSCHAIN INNOVATION

➡️ We are thrilled to announce the airdrop of NEXT!

A huge step forward for the decentralization of the Connext ecosystem, the NEXT distribution will also be a first-of-its-kind crosschain airdrop.

As always, beware of scams ⚠️

1/12 2/ The crosschain airdrop will allow users to claim NEXT on the chain of their choice directly!

On Sept 5th at 1 pm UTC, you can claim NEXT on @Arbitrum @optimismFND @0xPolygon or @gnosischain.

The ONLY page to verify eligibility is: airdrop.connext.network

Gm! 🎉 We’re thrilled to announce that Connext closed a $7.5m strategic fundraising round on a $250m valuation. This brings the total capital raised by Connext Labs to $23.2M.

Huge thanks to @FortuneMagazine for featuring us. More info on the round & what we’re doing below.

1/ The mission at Connext is to make it possible for developers to build dapps that are usable by any user, using any asset, on any chain.

2/

🏗️ New integration 🧱

@inverternetwork and Connext are partnering up, unlocking project funding from any chain and crosschain payments.

blog.connext.network/inverter-x-con…

1/9 @inverternetwork 2/9 Inverter is a versatile protocol that enables smart contract processes to allocate resources based on conditions.

It acts as a plug-and-play solution for organizations and decentralized apps to implement smart contract capabilities.

https://twitter.com/inverternetwork/status/1668549586116329472?s=20

Interacting with a dApp across chains today is difficult and time-consuming: select the right network, bridge assets, get gas tokens,…
Web3 users deserve a better experience.

Introducing Chain Abstraction: onboard users from anywhere, regardless of the chain they are on.

1/ 2/ As more and more L2s are launched, the user experience is becoming very fragmented.

Our mission at Connext is to make the multichain web3 world accessible to a global audience. We aim to empower users to focus on what matters most: the application.

New Integration:
@ConnextNetwork is live on @BungeeExchange!

Bungee is a bridge aggregator that provides the most efficient routes: it has integrated Connext to offer users a secure way to move from any token on any chain to any other token on any other chain. 2/ You can select Connext directly into the Bungee UI for cheap, fast and secure crosschain transactions.

Thanks to the Connext’s secure messaging layer, users on Bungee can also perform swaps before and after bridging, having a seamless experience for an any-to-any swap.

🚨 It's Liquidity Time!⛲

Provide liquidity to help bootstrap the Connext network upgrade before the official launch Thursday.

Here's an explanation on how liquidity works under the hood and how to LP.

1/x👇

blog.connext.network/providing-liqu… 2/ Before we start: if you want to jump straight into the LP management page, here's the link:

amarok.bridge.connext.network/pools

⛲️Liquidity is one of the key factors for any dApp and protocol, and we are already seeing it increasingly fragmented across the different ecosystems.

This is what a multi-rollup 2022 looks like :

(Source: @l2beat ) This is what a multichain 2022 looks like

(Source: @DefiLlama, june)

Builders, Anons, Degens, and Frens: WE ARE READY!

Amarok, the network upgrade of @ConnextNetwork, is finally complete, and it's ready to be launched in Beta in the coming weeks.

blog.connext.network/the-next-wave-… 2/ After the Amarok network upgrade, Connext will become a modular stack for interoperability, allowing developers to easily build xchain applications with the most secure infrastructure available on each chain.

https://twitter.com/ConnextNetwork/status/1562176324185333762?s=20&t=ySWzdP4GHPkLA27guFNTOQ

We get a lot of questions on how to provide liquidity and support the ecosystem.

In @ConnextNetwork Amarok there are 2 types of liquidity provision:

🤖 Active and ⛲️passive.

Learn how it works 👇

1/ Active liquidity is provided by routers to make transactions fast.

Passive liquidity allows users to convert NextAssets into adopted assets.

Everyone can participate, as it’s a permissionless network - an easy to use UI will be available on bridge.connext.network.

2/

The future of 2 of the most important factors in the crypto-industry: liquidity, and composability.

1/13 2/ Liquidity allows you to trade on @Uniswap and always get the opportunity to exchange your tokens.

Liquidity allows you to Lend and Borrow on @AaveAave to earn interests or leverage your positions.

https://twitter.com/tokenomicsdao/status/1560795514383187968

1/ Here is what @arbitrum Nova is and why you should get excited about it 🧵

#InfraFriday 2/ Arbitrum Nova is a new chain built w/ AnyTrust tech for low txs fees and a high level of security. Nova differs from @arbitrum One by not posting all tx data on chain, but to a Data Availability Committee.

https://twitter.com/ConnextNetwork/status/1489603880631558148?s=20&t=k16nwAXXpGktU-UkP51vAg

1/ Earlier this year, we announced the Amarok network upgrade to overcome limitations in Connext v1. It introduces support for arbitrary message passing, enabling developers to integrate easily into our network to build fully expressive xchain (cross-chain) applications (xApps). 2/ The upgrade modularizes the bridging stack. Instead of 1 system powering all of the functionalities, developers instead call into a single function (xcall) that splits actions between a Liquidity Layer (Connext) & a Messaging Layer.
blog.connext.network/announcing-the…

1/ At approximately 9:32 pm UTC yesterday, an attacker began exploiting a bug in Nomad’s Ethereum smart contract, resulting in the theft of approximately $190M. Here’s what we know so far and what you can expect from us in the coming days: 2/ The vulnerability was caused by a bug introduced during a routine upgrade of the Nomad contracts. The bug unintentionally removed the requirement that a message be proven, allowing attackers to bypass proving the validity of messages to the contract’s process() function.

We are aware of the exploit of the @nomadxyz_ contracts on Ethereum.

Users of Connext are not directly affected by this exploit.

However, madAssets held by users on Moonbeam, Milkomeda, and Evmos may now be unbacked by corresponding assets on Ethereum.

1/ To protect users and routers, the above chains were disabled as of approx 2 hours ago.

We are working with Nomad and others and will post updates once we know more about the situation.

2/

✖️💸🧱

We are witnessing the birth of new stablecoins from Defi's blue chip projects (@CurveFinance, @AaveAave, and others).

Who will gain a competitive advantage by issuing the first natively - secure - crosschain stablecoin?

#xmoneylego

1/

https://twitter.com/TheBlock__/status/1550268979780136960

First: the design.

Learning from recent experiences, we can expect these stablecoins to probably stick to an over collateralized model to be able to maintain the peg.

2/

WEN $NEXT - Update

Given recent market conditions and volatility, we have decided to delay our token distribution temporarily. Below you’ll find the reasons behind this decision and the next steps we are putting in place to transition Connext into a DAO.

blog.connext.network/wen-next-token… 1/ In late April, we announced plans to launch $NEXT, a network utility and governance token, in addition to our intent to transition to a DAO — decentralizing the majority of our operations.

blog.connext.network/whats-next-d30…

1/ Our latest governance proposal to distribute 300k $OP to Connext Liquidity Providers raised some fair questions as we never thoroughly explained this concept before for Amarok.
Here is how Liquidity Provision will work in the next version of Connext

https://twitter.com/ConnextNetwork/status/1529110526340608003?s=20&t=WaEy9IN9geSMwuRHJsEEdw

2/ For the current version of Connext, all liquidity providers are “active”, meaning they have to set up a router in order to provide liquidity and support the functioning of the network. These LPs currently earn 5bps on each transaction.

connext.network/routers

Last week we went live on @EvmosOrg, the layer 1 that is both EVM-compatible and connected to the Cosmos ecosystem via IBC.

You can now bridge tokens from over 14 chains.

Here is why we are excited to work with them.

0/10 1/ Evmos, the EVM hub of @cosmos, is a PoS blockchain in the Cosmos ecosystem that is interoperable with the Ethereum Mainnet, EVM compatible chains, and IBC compatible chains, making it easy for users and developers to move value between chains quickly.

https://twitter.com/CosmosEcoChat/status/1497908963102257160?t=4v8RjVuA4Wd40zTiOhKERw&s=19

Happy to announce $NEXT and the Connext contributor program today at @EFDevconnect in Amsterdam.

The future is crosschain!

blog.connext.network/whats-next-d30…

0/x 1/ Why Next
At Connext, we believe in the power of decentralized systems to put value and ownership back into the hands of individuals. Together, we can make the next generation of dapps and protocols simple, scalable, and secure for everyone

1/ We are excited to announce that Connext has added support to @cronos_chain. Users will now be able to transfer assets between 11+ supported chains & Cronos instantly and cheaply at bridge.connext.network

blog.connext.network/cronos-support… 2/ Cronos is an Ethereum-compatible blockchain network built on Cosmos SDK technology.

Gm! We're incredibly excited to unveil what we've been working on for the past few months.

Announcing 🐺Amarok: The first network upgrade of Connext.

blog.connext.network/announcing-the…

1/x WHAT IS AMAROK?

Amarok is the first major network upgrade of Connext.

For the past few months we've been quietly collecting data about the biggest headaches that stakeholders face when using Connext. The Amarok upgrade rearchitects our protocol to fix these headaches.

2/x