This is pretty awesome.

I was just doing some trading on SushiSwap and thought about arbitrage between different blockchains. Now that we have tokens that can be bridged to different blockchains, the prices of those tokens can fluctuate on other blockchains as well. I was trading SUSHI to USDC and noticed that there was a pretty considerable difference in price on SushiSwap on Harmony and SushiSwap on Polygon. So if the bridge existed (maybe it does already) I could take the same SUSHI I have on Harmony and move it to Polygon to sell it for a higher price. After a little digging, I found some awesome news.

AnySwap Bridge

On the 13th, the Harmony to Polygon bridge went live on AnySwap. I've used AnySwap a couple times in the past and had a great experience. This means you can easily move tokens between these 2 blockchains by bridging your tokens. Say I have some WBTC on Harmony, but see that it's selling for a higher price on Polygon... I bridge the WBTC via AnySwap and sell for a higher price on Polygon. Fees are almost non existent on Polygon and Harmony as opposed to using the Ethereum Mainnet.

The bridgeable assets are shown in the article here. It seems Beefy BIFI has been added as well. I'm not really familiar with it but hey, if you have these tokens they're free to be bridged now.

If you're not familiar with Harmony or Polygon here's some info. I've also written multiple posts about Harmony. I plan on doing some content on Polygon too once I've experimented with it more.

Very simple interface. You select which token you want to bridge from Harmony to Polygon. Then enter the amount and hit Swap. You can see below that there is no fee, which makes these 2 blockchains perfect for DeFi. Pay attention to the minimums as well if you are moving very small amounts.

This kinda blew my fucking mind. You can bridge BTC from the Bitcoin blockchain straight to Harmony. The guys that designed this platform are doing something right. This opens BTC up to DeFi even more.

I'm going to do a deep dive on the AnySwap platform and maybe a guide but I just wanted to share this awesome news with you.

Thanks for reading.

Peace.

Posted Using LeoFinance ^Beta