LeoFinance - Crypto Bridges With Terra to Fantom?

A lot of times information on Defi changes so quickly that the actual uses of such information may get lost. One such information is that of bridging onto Terra from other blockchains. I had tried googling Terra Bridges many times and the search results came up most often is:

https://bridge.terra.money/

But as I look through other blockchains I stumbled upon a couple that bridges to Terra and not mentioned as much as it should. Two of those bridges I found today will be discussed.

Multichain

Based on coinmarketcap Multichain has its own native token MULTI and has been active not too long. The platform seeming allows transfer of assets between blockchains and it lists the different bridges one can perform based on the token they hold in the specific blockchain. In snapshot below I currently have it setup toward my Ethereum wallet:

So for example if I held FTM which is Fantom's native token I can bridge toward all those other blockchains listed outside of Fantom but be it the FTM tokens of that specific chain. Note Terra icon is not shown but on the direct bridge page it is executable where one can move Terra UST onto Fantom as UST or vise versa. I am assuming this was a recent collaboration due to not having all information updated on the website.

Multichain currently only has Terra bridge with Fantom. It does not do Terra with BSC, ETH, or Harmony. I am assuming these will get implemented someday as its already offered on Terrabridge.

https://app.multichain.org/#/pool

Allbridge

The second bridge protocol we are looking at today that can also bridge Terra to other blockchains is Allbridge.

https://allbridge.io/

Similar to Multichain Allbridge has its own native token and went owned and held will reduce bridge fees. The specific bridges it has is linked below:

https://app.allbridge.io/bridge

What is note worthy of allbridge is that it can bridge Terra onto the following blockchains:

However before you get excited it should be clarified that only native token ABR can be bridged to these other blockchains. To get specific Luna or UST you have to check that the recipient blockchain accepts such tokens. I can confirm that for Solana you can move Terra Luna and or UST on to Solana. This option is neither currently offered on Terra Bridge or Multichain.

Conclusions

There are so many projects happening that sometimes you wish you can get involved in one but its on a different blockchain. Does that no frustrate you? Well have no fear as there is always a way some where some how to move funds from one blockchain to another with minimum fees. This method of transferring funds is by using bridges. We looked at two up and coming bridges in Multichain and Allbridge. Looking forward to additional updates both of these bridges may have to come that would benefit Terra users as there can potentially be more pathways to bridge onto other blockchains.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!