- Wormhole launches Sunrise DeFi, a service to accelerate the listing of crypto assets on Solana.
- Monad was the first customer to use the service to list its token MON.
Wormhole hat SunRise DeFi introduced and describes the new service as “Solana’s one-day quotation platform”. It offers new digital assets an uncomplicated route into the market via an accelerated stock exchange listing.
These tokens can become tradable on Solana and other decentralized exchanges within hours. Sunrise’s X post says:
“The new way major assets become listed and tradable on Solana, with high liquidity on day one.”
With the launch of Sunrise DeFi, cryptocurrencies from external chains can be easily integrated into the SOL network. This is done through Wormhole’s Native Token Transfer Framework. This eliminates the need for wrapped tokens, bridges and fragmented trading pools.
Sunrise: Uncomplicated cross-chain projects
Previously, it was not easy to launch and list a non-native asset on the Solana network. It required the use of multiple bridges and wrapped tokens. This fragmented approach often resulted in scattered liquidity and complicated procedures.
Sunrise has solved the problem. By using Wormhole’s Native Token Transfer (NTT) framework, all it takes is now a single click to kick-off the process. It offers fast listing of non-native tokens as it allows trading on major Solana exchanges. This eliminates the usual delays, technical risks and breakdowns.
Wormhole’s Sunrise DeFi launch coincides with the debut of Monad’s MON token, which was listed on Solana. After launch, MON holders sent their tokens to Solana and immediately gained access to high liquidity.
There had previously been friction between Aptos and Monad. As CNF reportedAlexander Spiegelman, director of Aptos Research, had accused Monad of copying open source code without attribution. He also expressed concerns about the platform’s time-consuming procedures.
But after the launch and the token debut, the possible one is approaching Bitcoin buyback the focus in Germany. Although Germany had already sold a significant portion of its Bitcoins, the recent price decline offered the opportunity to buy them back at a significantly lower rate – a classic DIP bargain.
No Comments