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17 Aug 2023

3 min read

Moonbeam Launches Liquidity Router Connecting Wormhole Liquidity and Users to the Polkadot Ecosystem

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Moonbeam, a top platform for multi-chain applications in the Polkadot ecosystem, has launched Moonbeam Routed Liquidity (MRL). With this, Moonbeam unlocks billions of dollars in liquidity via the Wormhole network, addressing issues of fragmentation and low liquidity among Polkadot ecosystem apps and parachains.

What is Moonbeam Routed Liquidity?

Polkadot has traditionally functioned as a base deployment layer upon which other “layer one” networks live. While this structure offers numerous advantages, including shared security, it can also lead to fragmentation as individual blockchains, or "parachains", introduce new assets. However, with the implementation of Moonbeam Routed Liquidity, every parachain can now access liquidity from Wormhole-connected ecosystems like Ethereum, Solana, Polygon, Avalanche, and others — without needing to create a Moonbeam account or interact with Moonbeam directly.

Moonbeam Routed Liquidity (MRL) is a one-click feature that can route Wormhole assets to anywhere in the Polkadot ecosystem. This is made possible by the general message-passing precompile implemented in the network’s latest runtime upgrade, plus other interoperable capabilities already available on Moonbeam. It also works the other way: many parachains are able to bring their native tokens to networks external to Polkadot for the first time ever.

How does MRL work?

Moonbeam Routed Liquidity (MRL) comes to Moonbeam following its latest upgrade, which was recently approved and enacted by an on-chain community vote.

MRL utilizes a mix of general message passing (GMP), Polkadot’s cross-consensus messaging (XCM), and Moonbeam’s XC-20 technologies. Routed liquidity fills the gap between parachains without EVM support and remote chains that lean on third-party bridges, providing new possibilities for decentralized finance on Polkadot at a much broader scale.

“Moonbeam has always been committed to providing a superior user experience, and the introduction of routed liquidity is a capstone in that mission," said Alberto Viera, Founder at PaperMoon, a developer relations contributor to Moonbeam. "Moonbeam Routed Liquidity drastically simplifies the complexities of moving data and assets from an external chain within Polkadot. This launch exemplifies how Moonbeam can serve the entire Polkadot ecosystem by serving as a gateway to liquidity solutions through protocols like Wormhole."

Adding Polkadot’s XCM to Wormhole Messaging

Wormhole’s foundational product, Wormhole Messaging, is a cross-chain messaging protocol that enables developers to build cross-chain solutions like MRL. Up until today, the modularity of Wormhole Messaging has offered developers various options for verifying messages, including Wormhole Guardians as well as Wormhole IBC in the Cosmos ecosystem. With the addition of Moonbeam’s router to the broader Wormhole platform, Wormhole is now also able to provide XCM (cross-consensus messaging) to its Messaging verification options. This new verification method adds to the flexibility of the Wormhole Messaging protocol and brings new possibilities to developers leveraging Wormhole for growing their markets.

“The Moonbeam contributors have always been thought-leaders in the cross-chain space and have driven growth in apps and liquidity for the Polkadot ecosystem over the years,” said Robinson Burkey, EVP and Head of Strategy at Wormhole Foundation. “It’s exciting to see Wormhole now being integrated with Moonbeam Routed Liquidity to help further that growth by bringing seamless asset transfers from outside of Polkadot to any parachain while leveraging both Wormhole’s Guardian network and XCM for messaging.”

How to get started?

Developers who want to enable their users to access MRL from their parachain will need to connect to Moonbeam via XCM and enable remote transactions. For further information or support, please get in touch with the Moonbeam development team.

About the Moonbeam Network

Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture creates the ideal development environment for building connected applications.

About Wormhole

Wormhole is the leading interoperability platform that empowers development and growth across blockchains. Wormhole provides developers access to liquidity and users on over 20 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. Wormhole enables a growing suite of products built around the foundational Wormhole Messaging protocol. Wormhole Connect is a key asset layer product, providing developers with an in-app bridging widget that can be integrated in as few as 3 lines of code. The wider Wormhole network is trusted and used by teams like Circle and Uniswap, and to date, the platform has facilitated the transfer of over 35 billion dollars through hundreds of millions of cross-chain messages.

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