Swingby, a self-described “modern technology of interchain communications based on MPC (multiparty computations), TSS (threshold signatures) and ZK (zero-knowledge),” has partnered with the Waves blockchain project to “augment their interchain infrastructure and bridge LTC, BEP-2 tokens and privacy coins into Gravity and its various target-chains,” according to a press release from both groups.
The goal here, of course, is for the two to build what they call Interchain DeFi. This platform should increase DeFi adoption and demand, building a reliable space for these applications to exist, the release continues.
Part of this project is due to the Ethereum network consistently slowing down and congesting, which is a common problem for many.
On top of this, Swingby has partnered with Gravity, a “lockchain-agnostic oracle system that supports communication of blockchains with the outside world, cross-chain communication, and side chains within a single unified structure.”
Swingby will help support chains on the Gravity network blockchains, with integrations into popular blockchains like Bitcoin.
Speaking on the matter is the founder of Gravity, Aleksei Pupyshev, who said:
“We’re really excited to work with the Swingby team and leverage the groundbreaking Threshold Signatures bridges to expand the opportunities and deepen the liquidity available to Gravity users. We remain committed to identifying and working with leading players in the space to unlock value for our platform.”