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The Defiant - DeFi Podcast
Seamless Crosschain Interactions with Connext: The HTTP of Web3
Dec 5, 2023
55:34
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Arjun Bhuptani, founder and CEO of Connext Labs, discusses the importance of seamless crosschain interactions and security in the Web3 stack. Topics include bridging, rollups-as-a-service, abstracting complexity, Connext's proposal for bridged assets, their recent launch, and the decentralization challenges of the space.
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Quick takeaways
- Connext Labs focuses on making blockchains usable for everyday users by providing seamless cross-chain interactions.
- Connext aims to be a core protocol in the Web3 stack, abstracting away the complexity of interacting with multiple chains and enabling users to effortlessly access decentralized applications.
Deep dives
Connect's Mission: Making Blockchains Usable
Connect Labs was founded in 2017 with a mission to make blockchains usable by everyday users. Initially focusing on infrastructure, Connect Labs pivoted to layer two scalability in late 2017. They built one of the first layer twos on Ethereum, partnering with Spankchain. With the shift to DeFi, Connect Labs realized the need for cross-chain solutions and repurposed their technology for seamless token transfers between chains. Their recent launch of the Next token showcased an innovative cross-chain airdrop, allowing users to claim tokens on the chain of their choice. Connect's token is used for governance, with the DAO being an omni-chain entity. Future utility options for the token could include staking and liquidity incentives.
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