The developers of Ethereum Classic Labs and ChainSafe Systems have announced the launch of a new bridge between Ethereum Classic and Ethereum. Users will be able to exchange assets using the DAI sticklercoin.
The partnership aims to make the Decentralised Finance Sector (DeFi) more accessible to the ETC community.
The new tool uses a technology similar to renBTC: assets are blocked in smart contracts with an appropriate number of tokens.
The launch of the bridge managed by ChainSafe Crypto Bank Systems is scheduled for 18 November. Moving the DAI to the Ethereum Classic blockchain will allow users to access the third most popular token, after Tether and USDC, stablecoine used in DeFi applications.
„The bridge that facilitates the use of DAI advances our core mission of creating a level playing field when it comes to access to financial instruments worldwide,“ says ETC Labs.
Earlier, the developers of Ethereum Classic Labs decided to strengthen protection of the network against future attacks 51% by involving law enforcement agencies and regulators.