Hi guys, I found this article on Avalanche bridging ETH DeFi projects to their own chain…
“To use it, DeFi users will have to lock either Wrapped ETH (WETH), ERC-20 or ERC-721 tokens in a ChainBridge contract on Ethereum. An equivalent token will then be minted on Avalanche and deposited to the desired address. This newly minted asset can then be used in DeFi applications on Avalanche.”
I found it interesting since it came to my mind that PowerPool perhaps could lockup GT in the ChainBridge contract on Ethereum side and create and deal with the indices and voting on the Avalanche side where there is great scalability and low fees.
I am not sure about the technical feasibility of the idea, I just wanted to share my finding with others to start some brainstorming on how to deal with insane ETH fees and poor scalability of the chain.