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ShadowTokens Beta Version Goes Live
After announcing the initiation of the FilDA project and successfully launching Tokswap – the Elastos ecosystem’s first decentralized finance (DeFi) application and decentralized exchange (DEX) platform respectively, the Elaphant Team has just released yet another major product on Elastos called ShadowTokens. ShadowTokens is the first cross-chain bridge enabling the secure and efficient transfer of digital assets to and from the Elastos ecosystem. At present, the ShadowTokens bridge connects the Ethereum and Elastos blockchains, allowing for the cross-chain transfer of ELA and ETH, as well as all ERC20, ERC677, and ERC827 tokens. The bridge serves two primary functions:
- To support Ethereum with a highly competitive scaling solution in Elastos’ ETH Sidechain: an EVM-compatible smart contract sidechain secured by both the industry-leading hashpower of Bitcoin and the democratic process integral to Elastos’ Delegated-Proof-of-Stake Supernode network.
- To provide the Elastos ecosystem with a new palate of opportunities to leverage native Ethereum assets such as prominent stablecoins and DeFi tokens, all of which can be incorporated into Elastos’ up and coming DeFi protocols: Tokswap and Quicksilver.
For now, the ShadowTokens release remains in beta version, and charges extremely low fees in order to attract early users. Presently, fees for transferring ELA and ETH stand at 0.1%, and ERC20 transfers are allowed free of charge. The Elaphant team anticipates fee modifications in the near future as the platform matures and gains usership.
For users who want to get their hands on ShadowTokens right away, the beta version is live at:
For more information, head over to the ShadowTokens GitHub page:
To learn more about the Token Bridge protocol that ShadowTokens utilizes, read through its documentation:
To remain up to date with the newest developments, platform launches, and general news surrounding the Elastos ecosystem’s budding DeFi scene, stay tuned here at the official Elastos Info Blog.