The cross-chain bridge will allow seamless transfer of assets between the two networks.
Web3 privacy hubs Manta Network and Acala have announced a successful cross-chain transfer of Parachain assets.
The partnership between Acala’s stablecoin ($aUSD) and ($KAR) will enable crypto assets to be transferred privately and freely within the ecosystem.
According to a 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 between the two parachains.
The privatization of assets is an important step for Manta and Akala as it will lead to seamless integration of assets into their respective Kurura and Calamari networks.
Calamari is the Canary network of the 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 ($aUSD).
Commenting on this latest development, Kenny Lee of Manta said;
“The collaboration with Akala is a major milestone for Manta, and the wider Kusama ecosystem. With privacy being paramount to the future development of Web3, it is humbling to be part of the technological breakthroughs along the way. Interoperability is always at play. Now, crypto assets including Acala’s stablecoin ($aUSD) and ($KAR) can be transferred privately and freely across the ecosystem.
Manta said that following the launch of the XCM integration between Calamari and Karura, its Calamari network will continue to integrate and bridge more Parachain assets for personalization in the Kusama ecosystem.
Thanks to this latest development, Calamari’s native token, $KMA, will also be present on Karura, which enables it to access further functionality through the various projects launched on Karura.
The KMA token will interact within the Karura ecosystem, providing access to various DeFi products for staking, lending and other use cases. In addition, native asset transfers from the Karura to Calamari network can be privatized and transferred in a shielded manner from peer-to-peer.
Acala is a decentralized finance network that powers the aUSD ecosystem. aUSD is a decentralized, multi-collateralized, crypto-backed stablecoin that acts as the core stablecoin of the Polkadot ecosystem.
Meanwhile, Manta Networks is committed to building a better Web3 world through privacy protection.
