Two leading blockchain platforms, Ontology, and Waves have mutually signed an agreement to build a cross-chain infrastructure for decentralized applications. And this integration will be powered by a decentralized blockchain-agnostic oracle protocol named Gravity, which is built on the Waves ecosystem.
This integration is a giant leap towards the DeFi development of both the protocols as both have endeavoured to delve deep into the flourishing DeFi ecosystem. With this integration, Ontology will be working as a target chain for Gravity, whose designs will offer interoperability for the development of dApps for Web3.0. Gravity is a decentralized oracle community that does not need a local coin to interplay any multi-purpose cross chains.
When any blockchain community integrates with Gravity, that blockchain network automatically enters the consumer base of the relevant ecosystems. Therefore, all the cross-chain communications that will take place between Ontology and Waves after they collaborate will be because of the power of Gravity. It will also enable both the chains to boost up the collective functionality of the various blockchain networks.
Both platforms will mutually benefit from this collaboration. Ontology’s native tokens $ONT & $ONG will be tradable on the Waves platform and will also be listed on Waves exchange. It will also enable the $ONT users to pay commissions for activities on the Gravity protocol. Similarly, Waves’ native token (WAVES) will also be available for staking and transactions on the Ontology platform. Moreover, this integration will make the tokens created on the Waves platform tradable on the Ontology network. Similarly, all Ontology assets will be transferable on the Waves platform.
Ontology will also provide valuable cross-chain data and external data from various dApps or oracles built on the Ontology network to Waves. With this collaboration, all types of cross-chain communication between the two platforms would be available easily to enable the dApps and DeFi interchain solutions to create the next-gen Web3.0 applications. It will help the developers to create a DeFi infrastructure that will be compatible with both the platforms.
The Ontology-Waves partnership is just the beginning for creating a cross-chain dApps compatible infrastructure; Ontology and Waves will continue to work together in the future to build new interoperable DeFi solutions that will improve the future of the crypto industry.