Rosen Bridge Updates: Launch Expected Within 1-2 Weeks
November 20, 2023
As the Ergo community excitedly awaits the launch of Rosen Bridge, the lead developer for the project has recently provided several important updates. These updates come shortly after the release of the Rosen Bridge token ($RSN) on Spectrum Finance and an understanding that people will need to lock a set amount of $RSN and $ERG as collateral in order to participate as Watchers and earn rewards.
Setting a new standard in bridge design and security, Rosen Bridge aims to function as a hub for cross chain swaps across multiple networks. After bridging to Cardano, the Rosen Bridge roadmap includes plans to offer swaps with other blockchains, including BTC, ETH, BNB, and more.
In order for the bridge to come online, the Guards need to be properly set up, and this is the work that the Rosen Bridge developers have been completing recently. The lead developer has indicated that the Guards have set up the necessary requirements for key generation and that the key generation ceremony will most likely take place by this weekend. The next steps will include contract deployment and the minting of tokens, which they have indicated should be completed within a few days of the key generation ceremony.
Following the successful deployment of these steps, the last part will be the final setup of the guards as well as the activation of watchers.
It is clear that a lot of very careful thought and work has gone into building and developing the Rosen Bridge, and the Ergo and Cardano communities have been looking forward to accessing this important new product. With this news, it appears that Rosen Bridge could be fully online within 1-2 weeks.
For more information on Rosen Bridge, please visit the Rosen Bridge website and Github.
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