Bridge Tower Capital is Integrating Chainlink Proof Of Reserve (PoR)

Zedcrypt's Newsletter No. 0006/April 7-9.2022

The Integration
Chainlink PoR feeds will monitor wallet balances across a variety of blockchains and relay that information to a target blockchain in order to help secure the minting of wrapped cross-chain assets. Through this integration, users of BridgeTower Capital’s Permissioned Markets product — created in partnership with Securitize — will be able to seamlessly access financial services in the multi-chain smart contract ecosystem using cross-chain collateral monitored by Chainlink PoR’s security-reviewed and Sybil-resistant node operators.

With this initial integration, BridgeTower Capital will leverage Chainlink PoR to monitor token balances of custodied wallets across Ethereum, Solana, and Terra mainnets, relaying that information to the Avalanche C-Chain in order to help control the minting of wrapped tokens collateralized by the reserves on the source blockchains. BridgeTower Capital is also exploring opportunities to expand its cross-chain token offerings to other blockchains with the support of Chainlink PoR’s flexible, blockchain-agnostic architecture. For more information about BridgeTower Capital’s investment platform and its recently announced Staked Digital Asset Security (SDAS), which will run on an Avalanche subnet, 👉read the recent press release.

BridgeTower’s Permissioned markets will include DeFi financial products such as customized blockchain staking opportunities, token swaps, and NFT development with arts, entertainment, and sporting ventures to provide seamless, institutionally-compliant products.

With more than 5,000 of its own Staking Nodes, BridgeTower utilizes renewable energy to reduce its carbon footprint. Already a leading proof-of-stake infrastructure provider for leading Layer 1 blockchains and Web 3.0 companies, BridgeTower has built its fast-growing foundational staking and DeFi business through partnerships and investments over the past few years.

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