ANN | SubBridge Launches on Phala Network, Leveraging the Interoperability Between Polkadot Ecosystem and Ethereum
SubBridge has progressed to the next stage: the two-way transfer from Phala to Ethereum is officially live now.
Now, you can swap PHA to Ethereum in a decentralized way with no fee beyond an Ethereum transaction fee. Reverse transfer can also be achieved (That is, you can transfer ERC20-PHA to the Phala blockchain too).
SubBridge enables transfer among Phala, Khala, and Ethereum. You can swap Phala’s assets ERC20-PHA, K-PHA, and PHA. (Note: the direct transaction between K-PHA and PHA is not available as of now. If you have to do this, please connect with Ethereum separately. ).
Following the successful launch of the Ethereum to Khala two-way bridge, we present to you the second big progress of SubBridge. As a cross-chain router, SubBridge is born to connect all the ecosystems with high speed and low cost. It is more selective and thus makes it easier for users to transfer assets in the digital world.
This is a crucial step for the Phala blockchain, as it opens up new possibilities for integrating assets into the Phala ecosystem in the future. With this function going online, the SubBridge is now capable of connecting both the Polkadot and Ethereum ecosystems.
SubBridge is the first cross-chain router in the substrate ecosystem, based on the “XCM + ChainBridge cross-chain protocol” to realize cross-chain transmission of assets and information, bridging parachains with EVM and other chains.