On July 1, the Algorand Foundation announced the integration of Wormhole’s Native Token Transfers (NTT) standard into the Algorand blockchain. The development was carried out together with Folks Finance, a key lending and staking platform within the Algorand ecosystem.
The NTT standard from Wormhole supports token movement across more than 40 blockchains. With this integration, Algorand becomes a fully native part of the Wormhole ecosystem, enabling direct cross-chain transfers without the need for wrapped tokens.
This update gives developers on Algorand the ability to issue tokens that can be used across different blockchain networks. It also simplifies the process for users to move assets between Algorand and other NTT-compatible chains.
Projects from other ecosystems will also be able to bring their tokens onto Algorand in native form, helping grow liquidity. This integration supports the upcoming launch of the FOLKS token and is part of a larger plan to expand cross-chain functionality on Algorand.
The work was done in coordination with Folks Finance, the Wormhole Foundation, and technical partner xLabs.
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