[Hong Kong, 17 July 2024] – Coinweb, a leading Layer 2 interoperability platform, proudly announces its integration with Bonsai3, a comprehensive Web3 tools provider. This collaboration marks a significant step in Coinweb’s mission to enhance and diversify its ecosystem with innovative Web3 solutions. Coinweb Labs has extended a grant to accelerate Bonsai3’s development on the Coinweb Protocol.
Bonsai3, known for its pioneering approach to decentralisation, privacy, security, and functionality, offers a suite of Web3 tools designed to empower users. By integrating with Coinweb, Bonsai3 will leverage advanced blockchain technologies to enhance the functionality and user experience of its platform, providing a robust ecosystem for developers and users worldwide. This integration will facilitate the creation of blockchain-agnostic tokens, blockchain routing, and load balancing across multiple Layer 1 blockchains, offering users seamless and efficient interactions.
“Integrating with Coinweb allows us to offer unparalleled innovation to the Web3 community,” said Raoul, CEO at Bonsai3. “This partnership addresses key challenges in the Web3 space, providing groundbreaking solutions that will benefit our users and the entire ecosystem.”
Through Coinweb’s advanced infrastructure, Bonsai3 will enable the design, setup, and issuance of blockchain-agnostic tokens on the Coinweb platform, without having to write any code. Users will have the ability to monitor the underlying chains for key performance indicators such as gas fee prices, outages, and network speed times. This will allow for the automatic or manual routing of token movements between different chains, ensuring a consistent and reliable service for end users. Additionally, gas fee abstraction will be available, meaning end users will only need to hold a balance of the blockchain-agnostic token to settle gas fees on the underlying Layer 1 chains.
The integration will also include the setup of liquidity pools or bonding curves behind the tokens being issued and the ability to load balance transactions of the tokens between multiple chains. This will enable Bonsai3 to market its dApps to the different communities of the various chains that the blockchain-agnostic token is broadcast into, significantly expanding its reach and impact.
“Bonsai3’s commitment to creating a no-code future for Web3 aligns perfectly with our vision of seamless interoperability,” said Anton, CMO at Coinweb Labs. “Their innovative approach to Web3 tools, combined with our state-of-the-art blockchain solutions, will set new benchmarks in the Web3 space, enhancing both user engagement and investment security.”
About Bonsai3
Bonsai3 is building the WordPress of Web3, with its comprehensive Web3 Hub at the core. This Hub is designed to be the epicenter for everything related to blockchain and AI. As part of this unique offering, the platform provides a Web3 self-service toolkit that enables teams to deploy projects faster, cheaper, and more securely. Our platform is user-friendly and caters to projects at every scale, ensuring community ownership, decentralization, and trustless management of assets.
About Coinweb
The Coinweb Protocol is a groundbreaking Layer 2 cross-chain computation platform that uniquely combines Scalability with Interoperability, setting new standards in the blockchain industry. It enables the seamless operation of decentralised applications across multiple blockchains, effectively merging them into a unified ecosystem. This innovative approach empowers developers to leverage the strengths and functionalities of each blockchain, optimising performance and versatility.
About Coinweb Labs
Coinweb Labs is the main contributor to the Coinweb protocol as well as a design and build consultancy specialising in creating custom-built solutions for decentralised applications. With a focus on innovation and collaboration, Coinweb Labs is dedicated to accelerating the development of projects within the Coinweb ecosystem.