To make DeFi more accessible and secure, Koii Labs and Idexo have partnered to create a new form of bridge technology that will serve as critical infrastructure to advance decentralization in the blockchain industry. Koii Labs—a compute-sharing marketplace and Web3 publishing protocol—announced its partnership with Idexo—a leading provider of Web3 marketing and project management software tools—to create a multi-chain bridge technology which will enable participants in decentralized ecosystems everywhere to earn income as validators using only their home computer.
Idexo has created a middleware bridge between protocols that will allow developers to easily deploy blockchain features into any app with just a few lines of code. Using the Koii Network, Idexo will enable cross-chain transactions with increased transaction capacity and security. This service will unlock the liquidity of the wider multi-chain market without a need for developers to shoulder the burdens of development time and security risk to create a bridge themselves.
“One of the main reasons that crypto centralized exchanges came to exist is because you need to get from fiat to crypto, and from chain to chain. Cross-chain transfers are a necessity—trading assets from one chain to the other is crucial—but until now it has been difficult to accomplish in a decentralized manner,” said Al Morris, Chief Architect of Koii Labs. “A trustworthy cross-chain bridge will go a long way to improve the functionality of decentralized finance.”
Idexo’s bridge, built on top of Koii’s network of consumer hardware, will solve user experience and safety issues that have prevented bridges from becoming the superior decentralized alternative to centralized exchanges. Self-custodied token holders will be able to simply choose an origin chain, destination chain, an amount, then safely and efficiently transfer/swap across chains.
By using a significantly large pool of consumer nodes, Idexo will be able to both increase security and reduce costs. Over time, new technology like zero knowledge proofs can be layered on top of this system to further increase privacy and security, while ensuring that anyone with a computer can participate in the web3 economy by becoming a trusted validator. Unlike many blockchain applications, bridging requires only a small amount of compute capacity, which opens the door to millions of potential participants.
For developers, the technology will significantly simplify launching new bridges for their native utility tokens using a simple, codeless interface or low code software development kit, allowing them to rely on the bridge’s interface to serve end users.
“The dominance of highly centralized crypto exchanges is partly due to the impressive user experience they prioritize. We are trying to create that same ease-of-use that people have come to expect, but for fully decentralized technologies,” said Greg Marlin, CEO of Idexo. “Blockchains were first created in order to make trusted third parties obsolete, and that is exactly what we are continuing to work towards.”
The initial bridge release supports a number of popular EVM-based chains including Arbitrum, Avalanche, Dogechain, Ethereum, Fantom, OKC, and Polygon, among others. Later updates will include non-EVM chains like Solana, Cardano, Cosmos, and Polkadot.
The project marks Idexo’s first implementation of Koii Tasks and this partnership plans to tackle several ambitious projects in the near future, including moving off-chain staking rewards processors to Koii Tasks and replacing AWS Lambda microservices through decentralization of hosting infrastructure.
For more information on Koii and Idexo, and the launch of the new bridge, visit bridge.idexo.com.
About Koii Labs
Koii Labs creates the infrastructure necessary to fully realize the revolutionary potential of decentralized ledger technology. Koii builds tools including attention rewards, intuitive dApp SDKs and APIs, and only using blockchain for transaction processing. At its core, Koii’s mission is to ensure web3 users maintain full ownership and earn fair value for their contributions online.
To learn more, please visit koii.network
Idexo enables innovators to build disruptively great experiences that leverage the best of web3 and NFTs while simplifying user onboarding in a secure way. It provides a low-code SDK and API, no-code SaaS management platform, hosted token gating UIs, mobile apps, and integration into over 5,000 Web2 and social systems to help its customers and partners build end-to-end user journeys. Multichain from its founding, Idexo integrates with many different blockchains and provides a stable credit system for gas costs, further simplifying the economic experience of building on blockchains – one transaction credit can be used for all chains.