Composable Finance receives grant from Interchain Foundation to Bridge DotSama and IBC
The Interchain Foundation (ICF) and Composable Finance are pleased to announce that Composable Finance has received a grant from the ICF for its work on the Inter-Blockchain Communication Protocol: IBC-Go. This grant will help Composable continue its work in developing a BEEFY Light Client that allows the Substrate-based Centauri bridge to communicate with the Cosmos ecosystem for cross-chain interoperability between both ecosystems.
About Composable Finance
Composable Finance is a developer-focused cross-chain smart contract platform for building next-generation interoperable applications facilitating cross-ecosystem communication. By leveraging the Composable tech stack, DeFi developers and end-users can perform cross-chain actions, while repositioning the overarching blockchain ecosystem as a network of agnostic liquidity and available yield. Composable allows users to tailor their experience to maximize for a desired parameter while minimizing ecosystem-specific decision making.
Moving Forward with BEEFY and the Centauri Bridge
This grant from the ICF validates and recognizes Composable’s efforts towards developing the BEEFY Light Client that allows Composable to bridge to Cosmos through IBC. With this grant, Composable will continue to boost its efforts towards this project further.
Composable’s development of the BEEFY Light Client is a critical aspect of the overall vision of bridging the Cosmos ecosystem to DotSama and other ecosystems in the future. The BEEFY light client sets the stage for Centauri, Composable’s IBC-Substrate bridge, and thus allows for seamless cross-chain communication and asset transfers between the two ecosystems.
Centauri is a trustless bridge that links IBC with Composable’s Kusama parachain, Picasso. The Centauri bridge thus connects the Cosmos and DotSama networks for the first time, opening each system to an extended network of interconnected blockchains (the Interchain) and cross-ecosystem opportunities for users and token holders. Connecting the DotSama and Cosmos ecosystems also expands the number of possibilities for users, the resources available for developers building dApps, and opportunities for investors. Composable is building this cross-chain bridging infrastructure from the ground up and designed to function/acts as the foundation on which an ecosystem-wide opportunity for other networks is created.
Commenting on this development, Composable’s founder and head of product, 0xbrainjar, said: “For us at Composable, we are excited to embrace the Cosmos community that has been incredibly supportive of our efforts to bridge both ecosystems and open up DotSama to an ecosystem that truly pursues interoperability among blockchains. Our collaborative efforts with ICF and Centauri’s realization are only just the beginning of what we have planned in our bid to bridge multiple ecosystems with DotSama all via a trustless approach.”
Sam Hart, Grants Manager at Interchain said “We’re delighted to support Composable Finance in their efforts to expand the IBC ecosystem to Substrate chains. Adding BEEFY light client support brings Cosmos chains a step closer to speaking the language of the Polkadot and Kusama ecosystem, creating a more integrated multi-chain economy.”
The Interchain Foundation and Composable are incredibly excited about this opportunity for Composable to continue working on IBC and expanding both the Cosmos and DotSama ecosystems through the Centauri bridge and BEEFY Light Client. This is a critical step for the IBC technology of the Cosmos ecosystem and towards cross-chain bridging of all networks throughout the DeFi ecosystem.
About The Interchain Foundation
The Interchain Foundation (ICF) is a Swiss non-profit that funds, stewards, and advances the Cosmos Ecosystem. We develop and maintain foundational protocols, and fund organizations to create an internet of shared resources, security, and value creation. We aim to responsibly shape a new technological paradigm that is open-source, interoperable and community-owned. Visit www.interchain.io to learn more.