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Course 2: Why Do We Need Bridges?

Introducing Course 2, Module 5 of Mission Web3, presented by Galxe. Ready to dive deeper into bridges?

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Written by Operation Team
Updated over a week ago

Welcome to Module 5 - Course 2!

In this course, we will delve deeper into the reasons behind the necessity of bridges in the web3 ecosystem. By the end of this course, you'll have a comprehensive understanding of why bridges are crucial for enabling cross-chain asset transfers, empowering dApps, benefiting users, and fostering collaborative development in the blockchain space.

Cross-Chain Asset and Information Transfer

One of the fundamental reasons for the existence of bridges is to facilitate seamless cross-chain transfers of assets and information. In a decentralized world with multiple blockchains, there needs to be a mechanism for users to move their assets from one chain to another without friction. Bridges enable this transfer, allowing users to tap into the functionalities of different blockchains.

Enhancing dApp Capabilities

Bridges play a pivotal role in enhancing the capabilities of decentralized applications (dapps). Dapps can leverage the strengths of various blockchains, incorporating their unique features and functionalities. This expanded design space drives innovation, enabling developers to create dapps that are more versatile, efficient, and responsive to user needs.

Access to New Platforms and Benefits

Bridges provide users with access to new platforms and the ability to harness the benefits of different blockchain networks. For instance, a user accustomed to one blockchain's speed can now access a different chain's security features or scalability solutions. This access creates a dynamic and user-centric blockchain experience.

Collaboration and Innovation

The presence of bridges encourages collaboration among developers from diverse blockchain ecosystems. This collaboration paves the way for the creation of new platforms that leverage the strengths of multiple chains. Developers can pool their expertise to build innovative solutions that address the limitations of individual blockchains, benefiting the entire blockchain community.

But how do we translate all this bridging information into a real-world scenario?

Mobox - Bridging NFT Gaming and DeFi

Mobox is a decentralized gaming platform that brings together NFT game assets and DeFi yield farming. It operates on multiple blockchains, including Binance Smart Chain (BSC) and Ethereum, and aims to bridge the gap between gaming and DeFi by offering unique experiences to its users.

Yield Farming Integration: Mobox allows users to stake their NFT game assets from various supported games, such as Axie Infinity, CryptoBlades, and more, into its yield farming pools. These pools offer yield rewards in native tokens, making it possible for players to earn passive income while holding valuable in-game NFTs.

Cross-Chain Interoperability: The platform utilizes the cross-chain capabilities of BSC and Ethereum. Players can bridge their NFT game assets from one chain to another, ensuring interoperability while enjoying the benefits of both networks.

Liquidity Mining with NFTs: Mobox combines liquidity mining and NFT ownership. Players can provide liquidity to NFT-asset pairs on supported decentralized exchanges while earning rewards. This innovative approach adds an extra layer of utility to NFTs beyond just gaming.

NFT Staking: Mobox users can stake their NFTs to earn platform-native tokens. These tokens can be utilized for various purposes within the platform, including participating in governance decisions or accessing exclusive features.

Mobox is a prime example of how web3 bridging, yield farming, and NFT game assets can intersect to create a unique ecosystem where players can earn rewards from their in-game NFT holdings while participating in DeFi activities. The platform's cross-chain capabilities further enhance the user experience and open up new possibilities for both gamers and DeFi enthusiasts.

Bridging To The Future

In conclusion, bridges play a pivotal role in the evolution of the web3 ecosystem.

Bridges enable cross-chain asset transfers, empower dApps to reach their full potential, provide users with diverse benefits, and foster collaboration among developers. As blockchain technology continues to advance, bridges will remain a key component that bridges the gap between different chains, paving the way for a more interconnected and innovative blockchain landscape.

Claim your Galxe NFT here, before you proceed to the next Module.

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