Orbiter Finance, a decentralized cross-bridge rollup project, announced that it has generated annual revenue of 20,000 ETH, equivalent to $52.7 million, from its cross-chain bridging protocol. This amount surpasses the combined earnings of all other third-party cross-chain bridges in the market. The Orbiter Bridge functions as a decentralized, cross-rollup conduit within the Ethereum ecosystem, allowing for the transfer of assets across various Layer 2 networks such as zkSync and Arbitrum, as well as connections to and from the Ethereum mainnet. Users have praised Orbiter for its low gas fees, especially compared to the high transaction costs on the Ethereum mainnet. The protocol has processed over 24 million transactions with a transaction volume exceeding $16 billion and has attracted over 4 million users globally.
The Orbiter Bridge was developed during the DeFi and NFT hype when there was little focus on the growing Layer 2 transactions and skepticism about the adoption of ZK technology in blockchain. Despite this, the team conducted thorough research and believed that this trend had the potential to drive the industry forward. Their launch of the first ZK bridge on the market attracted users organically, even when venture capitalists were skeptical of such a vision. Moving forward, Orbiter plans to enhance its bridge with Vizing, a ZK-based omnichain interoperability layer that consolidates liquidity from rollups for shared incentives and batches together ZK-proofs for submission, allowing for quick integration with various chains while maintaining security.
The annual revenue of 20,000 ETH generated by Orbiter Finance’s cross-chain bridging protocol surpasses the earnings of all other third-party cross-chain bridges combined. The Orbiter Bridge operates as a decentralized, cross-rollup conduit within the Ethereum ecosystem, facilitating the transfer of assets across different Layer 2 networks and connections to and from the Ethereum mainnet. Users have praised the protocol for its low gas fees, especially in comparison to the high transaction costs on the Ethereum mainnet. With over 24 million transactions processed and a transaction volume exceeding $16 billion, Orbiter Finance has attracted over 4 million users globally.
The Orbiter Bridge was developed during the DeFi and NFT hype when there was minimal focus on the growing Layer 2 transactions and skepticism about the adoption of ZK technology in blockchain. Despite these challenges, the team conducted thorough research and believed in the potential of this trend to drive the industry forward. Their launch of the first ZK bridge on the market attracted users organically, even in the face of skepticism from venture capitalists. Looking ahead, Orbiter plans to enhance its bridge with Vizing, a ZK-based omnichain interoperability layer that consolidates liquidity from rollups for shared incentives and batches ZK-proofs together for submission, enabling quick integration with various chains while maintaining security.
Orbiter Finance’s success in generating annual revenue of 20,000 ETH, equivalent to $52.7 million, from its cross-chain bridging protocol demonstrates its market leadership in the decentralized cross-bridge rollup space. The Orbiter Bridge serves as a key component within the Ethereum ecosystem, enabling the transfer of assets across multiple Layer 2 networks and providing connections to and from the Ethereum mainnet. Users have lauded Orbiter for its low gas fees, which offer a cost-effective alternative to the high transaction costs on the Ethereum mainnet. With over 24 million transactions processed and a transaction volume exceeding $16 billion, Orbiter Finance has amassed a global user base of over 4 million individuals.
The development of the Orbiter Bridge during the DeFi and NFT hype underscores the team’s forward-thinking approach and commitment to innovation in the blockchain space. Despite initial skepticism about the adoption of ZK technology in blockchain and limited attention to Layer 2 transactions, Orbiter conducted extensive research and recognized the potential for growth in these areas. By launching the first ZK bridge on the market, the team attracted users organically and positioned themselves as pioneers in the space. Looking ahead, Orbiter aims to enhance its bridge with Vizing, a ZK-based omnichain interoperability layer that will streamline cross-chain transactions and maintain security protocols.
