01 Exchange Launches Cross-Chain Deposits powered by Wormhole
Traders can now deposit from their Metamask wallets directly into their 01 Solana margin account thanks to Wormhole
For the first time in DEX history, 01 Exchange is thrilled to announce that it now supports full cross-chain deposits from the Ethereum blockchain (using Metamask or any Ethereum wallet) directly into trader’s 01 margin accounts (on the Solana blockchain). This feature is uniquely enabled in partnership with Wormhole, the premiere cross-chain token bridge with over $2bn in TVL and 7 supported chains.
What is a Cross-Chain deposit?
Cross-chain depositing is a unique feature, currently only available on 01 Exchange, that allows traders to deposit into their 01 margin account from any supported blockchain (Ethereum, Solana, and more to come).
Cross-chain depositing enables traders to connect their Metamask wallet to 01, and deposit Ether directly into their margin account (which is on Solana), without needing to worry about going to a centralized exchange, swapping their tokens from their Ethereum format to a Solana format.
Prior to 01’s cross-chain deposit feature, traders would only be able to interact with Solana dapps using a Solana-native wallet (such as Phantom, Sollet, Slope, etc.). Today, 01 is excited to break that barrier by allowing users from Ethereum to deposit directly through their Ethereum wallets.
No more need to worry about manually bridging, manually swapping, or manually converting. Simply connect an Ethereum wallet, click transfer, and you’re ready to start trading!
What is Wormhole?
Wormhole is a generic message passing protocol that connects to multiple chains including Ethereum, Solana, Terra, Binance Smart Chain, Polygon, Avalanche, and Oasis. Wormhole enables tokens to be transferred across different chains.
01 Exchange is excited to be partnering directly with Wormhole to provide the first ever cross-chain deposit feature in DEX history.
Why is this game-changing?
01 has always strived towards building all the features of a centralized exchange, but decentralized. By allowing users to natively deposit any asset from any chain and any wallet, 01 goes one step closer to that goal.
About 01 Exchange
01 Exchange is a fully decentralized orderbook-based derivatives exchange on Solana, supporting perpetual futures and power perpetuals. It features an on-chain limit orderbook through a deep integration with Project Serum, cross-collateralization, powerful cross-margining, and yield-earning deposits, all without sacrificing on decentralization. To learn more about 01 Exchange, visit https://01.xyz/ or https://twitter.com/01_exchange.