We’ve already talked about Connext and its Ambassador Program in past articles and videos. In a nutshell: Connext is a decentralized protocol that allows developers to build scalable and secure cross-chain bridges without having temporary layers. In addition, it works in a similar way as L2 systems, which gives it versatility.

Key features of Connext

Now let’s take a look at Connext in general and NEXT token.

What can be built on Connext:

Exchanges. In essence, this is the transfer of tokens from one network to tokens in another network.
Cross-chain NFTs. You can wrap any NFT and transfer to another network. From here you can deduce a number of controversial points, according to the type of originality of NFT after translation, or what to do if the same collection already exists on other networks, then how exactly the right of some originality will be implemented.
NFT Marketplace.
Staking on any network.
Finding the best deals between networks. This is no longer just a transfer from one network to another, but a kind of exchange aggregator.
Landing. You can deposit on one blockchain and borrow on another.
Farming.
Governance. Vote on any network.
One interesting solution has already been implemented. Buying on a centralized exchange and sending tokens to your wallet. I haven’t seen anything like it yet. As a use case, I came up with the following: multi-accounts. There are times when you need to hide the source of the appearance of funds in the accounts. So many choose the following approach: send money from the main wallet to an exchange, and from there withdraw to each wallet. Obviously, this is extremely inconvenient.
And yes, multisend does not always help for these purposes. So are mixers.

Of course, the set of applications is not limited to this list. These are just some examples of how Connext can be used. In reality, there are not so many restrictions, it just requires a little bit of fantasy and the development of all ecosystem in order to find new problems and fix them.

For the sake of interest and perspective assessment, we can consider the statistics from Explorer.

Transactions by week

TVL by chain

Assets in Ethereum

Amarok update

Thanks to the recently announced Amarok update, Connext will soon become the first and only network to enable blockchain-to-blockchain communication without the use of “crutches”.

This update will improve the cost and speed of transactions, and resolve some technical issues. Since transactions are tied to one router, if it has problems, funds can be stuck for up to 3 days, or there may be delays.

For developers and routers, this update will also be useful. Standardization, ROI increase due to balancing, some kind of transaction rollback mechanism and other changes.

This breakthrough will spark a new wave of innovation in cross-chain application (xApp) development.

To make this possible, the NEXT token has been announced. Total supply: 1 billion, ERC-20 standard.

What is NEXT

The purpose of the NEXT token is to provide sufficient compensation for liquidity providers of various tokens on supported protocol networks.

NEXT keeps the network running by ensuring that all participants are subject to the same set of transaction ordering rules.

In addition to its role, NEXT will be used to manage the treasures of the Connext network ecosystem through the DAO.

You can earn these tokens by being active. There is very little time left, so hurry up if you would like to participate.

Conclusion

For a more complete immersion, I recommend reading their Academy and documentation. In the documentation, they have a quick start for developers there, the passage through which takes 5–15 minutes.

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