Solana will be the 11th chain to join the Laika Protocol ecosystem!
As part of our ongoing efforts to expand the Laika Protocol multi-chain ecosystem, a BSC<->SOL bridge for Laika will be available soon! Solana will be the 11th chain to be integrated, further increasing our projects’ footprint in the DeFi space.
With this launch, Laika will also be one of the very first BEP-20 tokens to enable bridging to the Solana network, once again making history and setting even more new records!
Solana is an innovative platform created by Anatoly Yakovenko to address all the shortcomings of much older and well-established blockchains like Bitcoin and Ethereum with improved efficiency. The Solana network addressed the issues of speed and scalability currently faced by these leading blockchains with their growth in size and global acceptance.
Solana distinguishes itself from other blockchain projects through its Proof of History (PoH) approach to reach consensus. As a result, the Solana network can scale and process a faster transaction throughput of up to 50,000 transactions per second (TPS). The platform is able to support a hypothetical upper bound throughput of 710,000 TPS on a standard gigabit structure and a throughput of 28.4 million transactions per second on a 40-gigabit structure.
Unlike the Proof of Work (PoW) technology that Bitcoin uses as the consensus mechanism to approve transactions, PoH creates historical records for every transaction that occurs within the network. This historical record helps to prove that a transaction occurred at a specific time.
About Wormhole 2.0
Wormhole, a communication bridge between Solana and other top decentralized finance (DeFi) networks, began supporting inter-blockchain message transfers with a Monday mainnet launch. In simple terms, the interoperability protocol will help crypto assets like Laika Protocol and non-fungible tokens (NFTs), and even price data, flow between blockchain networks that don’t usually talk to each other.
Wormhole supports Terra, Ethereum and Binance Smart Chain at launch. Wormhole opens a faster (and, developers claim, simpler) route for non-native assets to enter Solana’s bustling DeFi ecosystem and allows for even faster and further integration of Laika Protocol within the network.
The team is currently working closely with the Solana developer community and initial testing of the new bridge via Wormhole 2.0 has began. The bridge is expected to be fully operational in the coming weeks. This, in combination with the upcoming V2 contract upgrade to Wormhole, will soon allow you to bridge Laika directly via https://www.wormholebridge.com/
Our home DEX of choice for Solana will be Raydium. Raydium is an automated market maker (AMM) and decentralized exchange (DEX) built on the Solana blockchain. While liquidity on most AMM DEXs is siloed off from other platforms, Raydium leverages its pool liquidity to place orders on the central limit order book of the Serum DEX.
Full instructions for bridging and interacting with the Solana network will be available at launch.
About Laika Protocol
Laika originally started as a second-generation deflationary token on BSC, which included the first of its kind scalable auto LPs as well as a max transaction limit to prevent price manipulation. Since its inception, it has grown into a full multi-chain DeFi ecosystem. Laika Protocol has since bridged to over twelve chains, with more to come in the future!
Laika’s long term plans include several other features such as trustless bridge deployment for tokens across all currently supported chains, a multi-chain oracle, several new platforms, and more!