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Findora Celebrates Launch of Rialto Bridge With $10M Campaign to Pay User's Gas Fees and Reward Bug Hunters

Rialto connects Findora and Binance BNB Chain - allowing assets to move trustlessly between the two blockchains.

PALO ALTO, Calif., March 22, 2022 /PRNewswire-PRWeb/ -- Rialto, the first cross-chain bridge built on Findora, has launched on Findora mainnet. Rialto connects Binance BNB Chain and Findora to enable seamless, permissionless, and trustless movement of tokens between the two ecosystems.

To celebrate Rialto's launch on Findora mainnet, the developers are running a $5M Rialto bridge kickoff campaign to reimburse cross-bridge liquidity costs and to incentivize users to report bugs. Additionally, The Findora Foundation will also allocate $5 million USD worth of FRA tokens (from the $100M Ecosystem Fund) to reimburse users for BNB bridge fees paid on the Binance side. The promotion is live until May 15th, 2022 (or until all funds have been depleted).

Support for connecting Findora with Ethereum (and other EVM-compatible blockchains) is expected to follow shortly and ETH bridge gas fees paid on the Ethereum side will also be reimbursed as part of the campaign. Finally, FRA bridge gas fees for inbound transactions on the Findora side will be covered by Rialto.

Warren Paul Anderson, VP of Product at Discreet Labs, which is one of the leading developers of Findora, explained, "By being able to connect with other blockchains, Findora can extend some of its native privacy to these other ecosystems. In that sense, Findora starts to become a liquidity hub for privacy in DeFi, where developers can build DApps that mask transaction data, preserve user privacy, and maintain competitive intelligence while also remaining compliant through selective disclosure. Along with decentralization and self-sovereignty, privacy fulfills a key component of the vision for Web3 and will help accelerate mainstream adoption."

Discreet Labs and other Findora community developers are also leveraging Findora's technology in zero knowledge proofs (ZKP) and secure multiparty computation (MPC) to develop the next generation bridge with transactional privacy.

Visit rialtobridge.io to send assets to Findora today. Developers can visit wiki.findora.org to start building the next generation of DeFi Dapps.

For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)MelrosePR(dot)com

About Findora
Findora is a layer-1, EVM-compatible public blockchain with programmable privacy. Originally conceptualized as a university cryptography research project in 2017, and finally launched to the public in 2021, Findora utilizes the latest breakthroughs in zero-knowledge proofs and multi-party computation, to allow users transactional privacy with selective auditability. For more information, please visit https://findora.org/.

About Discreet Labs
Discreet Labs is building scalable privacy systems for Web3. Discreet Labs is one of the leading developers of Findora, a layer-1, EVM-compatible public blockchain which combines the reliability and transparency of decentralized, public blockchains, together with the security and privacy of zero-knowledge proofs, to enable confidential transactions.

Media Contact

Jonathan Duran, Melrose PR, (310) 260-7901, jonathan@melrosepr.com

SOURCE Findora