Ethereum

Maker

Future

DeFi

when

The decentralized cross chain Layer 2 protocol <a rel="nofollow" href="https://www.orbiter.finance/" target="_blank">Orbiter Finance </a>reports that it brought in 20,000 ETH in revenue in the past year for its cross chain bridging protocol. Orbiter Finance has processed over 24 million transactions with a total volume exceeding $16 billion, and outpaced the combined <a rel="nofollow" href="https://tokenterminal.com/terminal/metrics/earnings?v=YWRmOWZl" target="_blank">earnings</a> of other third-party cross-chain bridges.&nbsp; 
As per the press release shared with Coingape, Orbiter Bridge is the most profitable cross-chain bridge protocol in the industry as it utilizes a highly profitable revenue generation engine known as Maker system. The Maker system has previously operated as a centralized liquidity provider.&nbsp; 
This revenue figure sets Orbiter apart from its competitors. For context, Base, another prominent cross-chain bridge, reported $39.075 million in revenue over the same period, but Orbiter’s substantial earnings reflect its competitive edge and growing influence in the DeFi space. The Orbiter Bridge addresses the limitations with traditional bridges’, such as speed, and enhances the efficiency of cross-chaining between various L2s and the ETH mainnet.&nbsp; 
<h3 id="future-plans-using-zk-technology">Future Plans using Zk Technology</h3> 
Moving forward, <a rel="nofollow" href="https://www.orbiter.finance/" target="_blank">Orbiter Finance</a> is gearing up for the launch of the zk-based omni-rollup infrastructure known as Vizing.&nbsp; This upcoming infrastructure aims to revolutionize the blockchain experience by addressing liquidity fragmentation and improving interoperability across Ethereum rollups. Vizing will introduce features such as a unified wallet system and aggregated liquidity, further enhancing the protocol’s scalability and user experience. 
“We have a clear vision of creating an omnichain future, and seamless cross-chain bridging is the first step toward achieving that goal”, said Iris Cheung, the Co-founder of Orbiter Finance told Coingape.&nbsp;“Unlike other bridges, such as Arbitrum, Optimism, and ZKsync Lite, which impose a 7-day waiting period for Layer 2 transfers, Orbiter provided instant bridging. This “Trend-Driven” strategy proved highly effective, as we entered the market when few believed in the potential of Ethereum L2s” 
The Orbiter team is now focused on decentralizing this system to allow access for third-party liquidity providers. The protocol’s commitment to decentralization is further supported by a strategic investment from OKX Ventures, earlier this year. The firm has raised a Series A funding and has strong backing from Tiger Global,&nbsp; Mirana Ventures, Skyland Ventures, Mask Network, Redpoint Ventures China, and Hash Global.&nbsp; 
The post <a href="https://coingape.com/decentralized-cross-chain-layer-2-protocol-orbiter-finance-reports-20000-eth-in-annual-revenue/">Decentralized Cross Chain Layer 2 Protocol Orbiter Finance Reports 20,000 ETH in Annual Revenue</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Decentralized Cross Chain Layer 2 Protocol Orbiter Finance Reports 20,000 ETH in Annual Revenue

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