Infinex Leverages Wormhole’s Interoperability Solution to Bolster Its Multichain App

Decentralized finance platform Infinex will leverage Wormhole’s interoperability answer to bolster its multichain app.

DeFi platform Infinex to integrate Wormhole for multi-chain app

Infinex, a multi-chain decentralized finance platform, will integrate Wormhole’s interoperability solution to enhance its multichain application.

According to a recent announcement by Infinex, the integration of Wormhole (W) will enable in-app token transfers for Infinex users. The DeFi platform will be able to use Wormhole Join to abstract away the complexities involved with multiple chains and tokens.

Wormhole Queries, on the other hand, will allow developers to benefit from on-demand retrieval of on-chain data across chains.

Powering multi-chain DeFi innovation

The integration with Wormhole will provide users with multi-chain access to DeFi, with liquidity available across 30 major blockchain networks.

Infinex will tap into the overall security and low costs that are associated with the interoperability solution, which has several industry players using Wormhole. These include digital securities platform Securitize, stablecoin issuer Circle, asset management giant BlackRock and decentralized exchange Uniswap.

The solution enables the easy recovery of assets stranded on non-Base Ethereum Virtual Machine-compatible chains, with secure syncing of account states via a single transaction. This will allow Infinex users to recover non-USDC assets from multiple networks.

Apart from Solana, Infinex currently supports Base and Arbitrum among six EVM and non-EVM networks. The platform also provides access to non-fungible tokens and governance tokens, with the platform having recently raised over $65.2 million through an NFT sale.

The funding saw participation from key industry players, including Framework Ventures, Solana Ventures, Moonrock Capital and Wintermute.