On July 1st, the Algorand Foundation announced the integration of Wormhole’s Native Token Transfer (NTT) standard to the Algorand Blockchain. The development was carried out alongside Folks Finance, a key lending and staking platform within the Algolan ecosystem.
Wormhole’s NTT standard supports token movement across over 40 blockchains. This integration makes Algorand a complete native part of the wormhole ecosystem, allowing direct cross-chain transfers without the need for wrap tokens.
With this update, Algorand developers will provide the ability to issue tokens that can be used in various blockchain networks. It also simplifies the process by which users move assets between Algorand and other NTT compatible chains.
Projects from other ecosystems can also bring tokens to Algorand in native form, supporting liquidity growth. This integration is part of a larger plan to support the future launch of people’s tokens and expand Algorand’s cross-chain capabilities.
This work was done in conjunction with Folks Finance, Wormhole Foundation, and Technical Partner XLabs.
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