Name: Connext
SKU: NEXT
Price: 0.042347631853 USD

Connext is an interoperability protocol that enables fast, non-storage-related asset transfers between blockchains and contract work between EVM-compliant blockchains.Connext solves the lack or presence of small amounts of liquidity in L2 solutions and EVMs. In essence, in simple terms you could say it is a crosschain bridge. Just 5 weeks after launch, Connext NXTP has expanded to support 9 networks including Ethereum, Polygon, Arbitrum and Avalanche on the main network. Just look how many networks Connext supports today: Binance Smart Chain, Polygon, xDai, Fantom Opera, Arbitrum One, Avalanche, Optimism, Moonriver, Moonbeam. And they will also add support for Fuse, Celo, Aurora, Harmony, Evmos, Neon, Godwoken, zkSync, StarkNet.Deals take place in three stages:Auction: The user requests the desired route. Routers respond with bids containing commitments to complete the transaction within a certain time period and in a certain price range.Preparation: Once the auction is completed, the transaction can be prepared. The user sends a transaction to the TransactionManager contract on the sender's network containing the signed router bid. This transaction locks the user's funds in the sending network. Upon detecting an event containing their signed request, the router sends the same transaction to the TransactionManager in the chain on the recipient side and locks the appropriate amount of liquidity. The amount blocked in the receiving network is equal to the sending amount minus the commission, so the router is rewarded for completing the transaction.Execution: when a TransactionPrepared event is detected on the receiving network, the user signs the message and sends it to the repeater, which receives a sending fee. The repeater (which is usually another router) then sends a message to the Transaction Manager to complete the user's transaction on the destination network and claim the funds blocked by the router.If the transaction is not completed within a fixed validity period, it is cancelled and can be revoked by the originating user. In addition, transactions can also be unilaterally cancelled by the person to whom funds are owed on that network before the transaction expires.Benefits:High level of trust: Users are guaranteed that routers cannot escape with assets thanks to a blocking mechanism. Connext Non-Castodial Transfer Protocol (NXTP) is the only generalized interoperability solution that relies on its own validators. Bridges that rely on external validators are fundamentally less secure because users have to trust means and data to third-party verifiers.Scalability: Bridges that use the network's own set of validators to verify transactions have even stronger trust guarantees. However, they must be built individually for each pair of networks and cannot quickly add support for new ones like liquidity networks do. Connext can easily anboard new blockchains to its network and thus scale quickly to other ecosystems.Capital Efficiency: Bridges require validators to post collateral to provide services for the network, which is inefficient. This collateral must scale in proportion to the economic bandwidth of the bridge. For liquidity networks such as Connext, there is no upper limit to the economic bandwidth that the network can safely provide because capital blocking is not tied to their security model and takes place not at the validators, but directly at the sender and receiver side of the network.Superior UX: Because validation happens locally on liquidity networks, transfers between networks are fast. Connext allows users to perform direct L2-L2 transfers in real time and completely avoid huge fees.Rebalancing liquidity with arbitrage incentivesCrosschain volume is a key growth metric for liquidity networks. However, high volumes in one direction will quickly deplete liquidity in the other direction.To solve this problem, Connext dynamically evaluates liquidity using an AMM curve, mimicking AMMs with stable swaps such as Curve. The price of assets changes depending on the ratio of available liquidity in each network. The more unbalanced the liquidity, the greater this price difference and the impact on the price of the resulting asset.In other words, users pay a higher price to get assets in a more liquid network and a lower price to get assets in a less liquid network.This presents tempting arbitrage incentives for market makers who already take advantage of such features in AMMs such as Uniswap. With Connext's virtual AMMs, cross-chain arbitrage will also be possible.Connext currently has liquidity of $11 million and provides weekly volume of $31 million.Development using the SDKConnext is a basic protocol, similar to TCP/IP, which allows you to do the simplest things, such as inter-network transfers and contractual interactions. Connext is aimed at developers who can use the SDK to build their own solutions. Eventually, the protocol can be upgraded to more complex communication between networks, depending on what other tools are available and what networks communicate with each other. The first product built on Connext SDK is the bridge https://xpollinate.io/.

Building a Great Ecosystem

Tokenomics

Airdrop

Ecosystem & Strategic Backers

Early backers

Early Team & Advisors

Proxima Labs

Connext Foundation

Ethereum-based interoperability project Connext has raised $2.2 million in seed funding, led by Polychain Capital.With fresh capital at hand, Connext looks to seed the early network liquidity and expand its team to launch the full network, founder Arjun Bhuptani told The Block.A startup with a novel method for moving value between layer 2s and other blockchains has raised $12 million in a round led by 1kx and ConsenSys Mesh.Connext uses an approach to moving funds among different blockchains, sidechains and layer 2s that looks a lot like how automated market makers (AMMs) operate.Connext Labs raises $7.5 million at $250 million valuation to build the ‘HTTP of Web3’.

Connext

Connext is an interoperability protocol that enables fast, non-storage-related asset transfers.

Stay up to date with your assets.

Stay on top of the market by creating customized alerts sent directly to your Telegram or email.

Choose your Alert type

Add New Alert

Edit Alert

Alert me {freq} when {trackedItem} {condition}.

price{onExchange} is >= {currency}{value1} or <= {currency}{value2} or 24h trade volume increased by {volume}%

price{onExchange} is >= {currency}{value1}

price{onExchange} is <= {currency}{value1}

price{onExchange} is >= {currency}{value1} or <= {currency}{value2}

24h trade volume{onExchange} increased on {value1}%

New price alert added

Total raised in USD value and total number of IDO/ICO/IEOs by month

Total raised in USD value and total number of IDO/ICO/IEOs by week

Total Raise and Number of Public Sales

Monthly raise and number of token sales including private rounds

Weekly raise and number of token sales including private rounds

Fundraising Activity

Token Sale Categories by Month

Top Launchpads Ranked by Average ROI

Funds Raised on Public Rounds by Blockchain

Number of Token Sales (IDO/IEO/ICOs) by Launchpad and Category

Top 15 Launchpads Ranked by Funds Raised

Number of Public Token Sales by Type

Check your email

We've sent you an email with confirmation link. If you don't have it in your inbox - check your spam box.

CryptoRank App

See CryptoRank with...

{name} {type}

Funds and Backers

To Be Announced

{name} Price $ {price}

{name} ({symbol}) Price $ {price}

{coinName} Price Today

{name} News

{symbol} Price Statistics

The {name} to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

{name} price Index provides the latest {symbol} price in US Dollars {delimiter} {btc_eth} using an average from the world's leading crypto exchanges.

supply of {name} that will ever be issued is {value} {of}

The current circulating supply of {name} is {availableSupply} {currencyType}, and the maximum supply of {symbol} is unlimited. 

Cryptocurrencies

Fiat Currencies

Tiers are assigned to funds according to the following quantitative and qualitative indicators: AUM, the weighted average of a fund’s projects’ quality (market capitalization, trading volume, ROI), fund management, media sentiment, experience, popularity, etc. The tier ranking does not in any way represent the forecasts, estimates, projections, or predictions of the Company or its management.

{exchangeName} {coinSymbol} Futures Total Open Interest & Volumes

{exchangeName} {coinSymbol} Futures Daily Market Share %

Here you can find a token or a trading pair on decentralized exchanges

DEX Exchanges by Aggregated {interval} Volumes

Exchanges Analytics

Share exchanges analytics

Do you have some feedback?

Use filtering to find the cryptocurrencies you need

Market Data API

Track your wallet balances, view asset allocations, get real-time price data, and more

Easily manage your assets with our Mobile App

Early-stage startups with closed funding rounds

Projects which received investments from {name}

Total funds raised and total number of funding rounds by month

Total funds raised and total number of funding rounds by week

Crypto Fundraising Trend

Most Active Investors

Number of Funding Rounds by Investor and Category

Fundraising Rounds by Stage

Monthly Fundraising by Category

Weekly Funding Investment by Category

Heatmap of Investment Locations

The Most Active Crypto VC Jurisdictions

Number of projects by jurisdictions of funds

Funding Amount and Number of Rounds by Stage

Create your Preset using Filter settings.

Trade your CryptoRank Spaceships for exclusive rewards and partner products listed below

Available Rewards

HeatMap

Share market state

Color represents price change. Size represents market cap.

All cryptocurrencies

The Rank is calculated as TGE Number weighted average ROI. In more detail, the rank is calculated as the ratio of the average ATH and Current ROI of all TGEs conducted on the particular platform to the total number of TGEs conducted on the fundraising platform.

Only TOP 10 by ROI platforms with at least {count} IDOs conducted are shown in the report.

Where number in brackets (NUM) shows number of IDOs conducted.

Only platforms with at least {count} IEOs conducted are shown in the report. Where (NUM) - number of IEOs conducted in braces

Most Volatile

Unusual Volume

New High (ATH)

New Low (ATL)

Top Gainers

Top {coins} {type} with more than USD {volume} total volume over the last {period}

Top Losers

{name} Launchpad

Selected Layout Settings

Please choose metrics to view from the list below

You can spend your Spaceships on NFTs, discounts, or promo codes

Complete daily quests to earn more Spaceships

Get Daily Bonus

Check-in everyday and complete tutorial and daily tasks to get maximum Spaceships

or download our APK

Scan QR code to get download link specifically for your mobile platform

Mobile CryptoRank App

Name

Complete tasks and earn rewards

CryptoRank Spaceships

Select Websites channels that you want to add to Cryptonews feed

Select Sources

Related News

Search Results for: 

Insights into the biggest events shaping the crypto industry.

Please enter your valid email address to proceed with registration.

Sorry, but your {social} account doesn't have an email address.

Try again with a different term

No results for “{query}”

Create customized alerts sent straight to you via the CryptoRank app, Telegram, or Email. Alerts can be set for every coin we have listed!

Discover recent crypto fundraising rounds of upcoming projects and follow portfolios of top funds

Explore their upcoming sales and compare main features and past performances

You can also create a manual portfolio and add assets yourself. Portfolio analytics is available in the same form as in the tracker

Analyze ROI, price action, and other key IDO metrics using the largest token sale database

Simply add your crypto wallet addresses to track performance of your portfolio. Fast and secure

Get in touch with us for info about listings, tokens, exchanges, IDOs, or any other promotional inquires

Interested in a partnership?

Current and ATH Average Returns Table

Share current and ATH average returns table

Less

More...

Share Chart Screen

Subject

Create your Preset using Layout and Filter settings.

Customize table using Layout settings

Layout & Filters

Filters

Layout

CryptoRank watchlist supports {coins} cryptocurrencies.{linebreak}Track your favorite cryptos, including Bitcoin, Ethereum, BNB, Polygon, Solana and more.

Start building your watchlist by clicking the button 'Add coins'

Your Watchlist is Empty

Enter watchlist title

Effortlessly Monitor & Manage All Your Cryptocurrency in One Place

Manage and track your favorite digital assets without the hassle.

Effortless Cryptocurrency Tracking 

Why settle for one when you can have more? Create an unlimited number of watchlists to Organize your digital assets by themes, market trends, or potential investments — the possibilities are endless! 

Create Multiple Watchlists 

Start sharing your knowledge and insights with Cryptorank's sharing feature. Connect, educate, and inspire!

Share Them With Your Friends

Track the Performance of your Favorite Coins

Stay up to date on your favorite coins {br} with the CryptoRank mobile app

Instantly receive notifications on your device {br} without having to open the app.

Easily keep your crypto watchlist up-to-date {br} by synchronizing it.

Use CryptoRank.io data widgets to get the latest information about the cryptocurrency market. Just set up, copy and paste the iFrame code on your website.

Create the Crypto Widget for your website in a few clicks

Stay updated with the latest news, social media updates, and information about %name%. Gain valuable insights into market trends and stay informed about the vibrant community discussions.

%name%: Latest News, Social Media Updates and Insights

Hydranet Launches Layer 3 DEX: A Game Changer for Trustless Cross-Chain Trading

Crypto Daily

The US SEC’s (Securities and Exchange Commission) second deadline to announce its decision on seven-spot Bitcoin (BTC) ETFs…

Watcher.Guru

SEC’s October Deadline For Spot Bitcoin ETFs is Approaching

Amid the crypto market’s recent relief rally, prominent crypto YouTuber Sheldon has announced an over $100,000 bet in altcoins. In a recent video posted to X, Sheldon shared insights into his trading strategies. In particular, Sheldon cited his overly bullish sentiment around Dogecoin (DOGE) and Solana (SOL), spotlighting his substantial investment portfolio in both digital […]
The post DOGE and SOL $100K Bet: Could These Altcoins Generate 400%+ Profits? appeared first on Coin Edition.

CoinEdition

DOGE and SOL $100K Bet: Could These Altcoins Generate 400%+ Profits?

The Connext token distribution event, hosted by Tokensoft, has been declared successful following its multi-day completion. Almost one million web3 users have received the $NEXT token in a new record for on-chain distribution. The success of the $NEXT token allocation has been heralded by its organizers as the prelude to creating a thriving cross-chain ecosystem.

One Million On-Chain Users Receive $NEXT Following Connext Token Distribution

Tokensoft’s distribution of the newly-released Connext NEXT token attracted nearly 1 million registrations in less than a month after it went live, according to a press statement shared with CryptoSlate. What is Connext NEXT? Connext employs the ERC-7281, often referred to as xERC20, to facilitate frictionless cross-blockchain token transfers in a permissionless fashion. Notably, its […]
The post Tokensoft’s Connext NEXT launch boosts token transfers with record-breaking 1 million registrations appeared first on CryptoSlate.

CryptoSlate

Tokensoft’s Connext NEXT launch boosts token transfers with record-breaking 1 million registrations

BitBoy Crypto YouTube Channel has rebranded to “Discover Crypto” following weeks of internal disputes and the departure of former host and prominent crypto influencer Ben Armstrong. The team made this announcement in a video posted on YouTube titled “The END of BitBoy CRYPTO (WHAT Comes NEXT?) According to the video, the channel’s rebranding was necessitated […]
The post BitBoy Crypto Ends: Team Embarks on New Beginning After Controversy appeared first on Coin Edition.

BitBoy Crypto Ends: Team Embarks on New Beginning After Controversy

Despite enduring torrid periods over the past few weeks, the crypto market may be on the verge of another nosedive. This is because FTX, the exchange that brought the market to its knees in 2022, is getting ready to liquidate some of its assets, and Solana (SOL) and Polygon (MATIC) are part of it. According […]
The post SOL, MATIC Could Be on the Brink of Another Fall, Here’s Why appeared first on Coin Edition.

SOL, MATIC Could Be on the Brink of Another Fall, Here’s Why

There was red ink across the crypto market Monday morning in Asia as Bitcoin dipped below US$26,000. Ether also fell to near the US$16,000 mark.

Forkast

Bitcoin starts week below US$26,000; Ether dips after hack on Vitalik Buterin’s X account; more rate hike worries on Wall Street

Goldman Sachs recently revised its macroeconomic forecasts. The investment banking company’s analyst team predicted a 20% probability of…

US: Goldman Sachs Sees a 20% Recession Chance in Next 12 Months

Are you constantly in search of the finest web3 events to participate in? It feels like every event you come across is either too large, too small, overly pricey, or inconveniently distant. If that sounds familiar, then you probably haven't heard about the DEGAMEFI WEB3 CONFERENCE 2023 just yet!

Save the dates, because this will be one of the most fruitful experiences that you have had. 
The Degamefi Web3 Conference stands as the largest event in the Caucasus region, acting as a gathering ground for blockchain and Web3 experts, thought leaders, and innovators. It draws a diverse audience comprising developers, investors, entrepreneurs, and enthusiasts, all driven by their eagerness to stay informed about the latest trends, technologies, and applications in this rapidly-evolving field.

🎉 The conference's main sponsor is TETHER.
By collaborating with the DEGAMEFI 2023, Tether reaffirms its commitment to fostering innovation, collaboration, and the advancement of Bitcoin, Peer-to-Peer and blockchain-based solutions worldwide and in Georgia. 


“By sponsoring this event in Georgia, we want to be an active player and further commit to fostering and nurturing this growing ecosystem. We believe that by empowering the local community with blockchain expertise, we can drive adoption and foster economic growth in the region. By demonstrating our commitment to Georgia’s blockchain ecosystem, we aim to build valuable relationships, foster Bitcoin and p2p technologies adoption, and explore new business opportunities.” – Marco Dal Lago, Head of Expansion in Tether and Bitfinex.


The event will feature keynote speeches, panel discussions, start-up competition, dedicated area spaces, and networking opportunities, providing attendees with valuable and the most up-to-date insights and real-time opportunities. 

The conference will include keynote speeches, panel discussions, a startup competition, dedicated areas for various topics, and ample networking opportunities. This will provide attendees with valuable insights and real-time opportunities related to decentralized finance, non-fungible tokens, governance, identity, privacy, cybersecurity, law adoption, AI, and more. Some notable industry professionals, such as TOBIAS (TOBI) BAUER, MARCO DAL LAGO, DR. VILMA MATTILA, LAURA INAMEDINOVA, CAL EVANS, will be among the speakers. Check the rest here.

🚀 Key Highlights:

Expected Attendance: 1500 attendees

Panel discussions and solo speeches

Dedicated sessions

Gaming Area

Startup competition

VIP Space

Official side events

And more...


📌Venue: Sheraton Grand Tbilisi Metechi Palace Hotel 

🗓 Date: 7-8 Oct. 2023 

🚀 To seize new opportunities, secure your passes here.

FOR FURTHER ASSISTANCE CONTACT - info@degamefi.io or ani@degamefi.io

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

ConnextNEXT

About Connext

Latest Connext News and Social Media Feed