Rosen Bridge: Bridging Cardano and Ergo#
The Rosen Bridge provides a mechanism to bridge Cardano and Ergo, allowing for seamless interaction between the two blockchains. It's important to understand that this bridge does not facilitate a direct swap between ADA and ERG. Instead, it allows you to convert your ADA into rsADA on the Ergo blockchain, or your ERG into rsERG on the Cardano blockchain.
This functionality opens up new possibilities for ADA token holders within the Ergo DeFi ecosystem. Although the bridge has just been launched and dApps are still in the process of integrating this feature, there are already several ways you can utilize your wrapped tokens:
If you simply want to get your hands on some native tokens like rsADA or rsHOSKY, you can use ergodex.
- Auction House is a decentralized marketplace for NFTs, tokens, and more now accepts rsADA. List rsADA in bulk at a set price, or make an offer for it!
- SigmaFi is a decentralized peer-to-peer bonds market allows you to use rsADA as collateral.
- DuckPools: You can lend your rsADA tokens on this platform.
- ErgoMixer: This service allows you to mix your rsADA tokens for enhanced privacy.
- SigmaO create American style calls and puts on any wrapped token.
I've bridged and now I don't have enough ERG for the transaction fee to send my tokens anywhere.
You can use babel-fees in Ergo to pay for transaction fees with native tokens if you do not have enough ERG.
- Cardano DEXs: You can gain exposure to Ergo to bridged tokens on Cardano DEXs such as Spectrum, Minswap, and Sundae.
- Liqwid Finance: Proposal 36 aims to add bridged ERG (rsERG) as isolated collateral in the $ADA market with the following risk parameters: 51.4% maxLTV, 51.5% liquidationLTV, 15% Liquidation Penalty.
In the coming months, we anticipate more integrations and offerings involving rsADA. Stay tuned for more exciting developments!