What Is Allbridge (ABR)? AllBridge Coin Price Prediction

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11 Feb 2024

KEY TAKEAWAYS

ABR Coin (ABR) is the native cryptocurrency of the Allbridge ecosystem, providing utility and benefits to its holders.
Allbridge is a leading platform enabling seamless cross-chain transactions and interoperability.
Allbridge supports multiple blockchains, including Ethereum, Binance Smart Chain, and Avalanche.
Allbridge offers a secure and reliable solution for exchanging assets between different networks.
ABR Coin holders can participate in platform governance and earn passive income through staking. Allbridge conducts airdrops to reward its community and attract new users.

1. WHAT IS ALLBRIDGE?

What is Allbridge? | Source: Allbridge

Allbridge (ABR) is a cross-chain bridge platform that provides a seamless and secure way to transfer assets between different blockchains. It acts as a bridge between EVM (Ethereum Virtual Machine) and non-EVM chains, allowing users to move their capital efficiently within the decentralized finance (DeFi) ecosystem. With Allbridge, users have the flexibility to choose from multiple chains to invest their money in, expanding their options beyond Ethereum.

People Who Use EVM Chain Must Have Klarda, Here Is Why?

2. HOW DOES ALLBRIDGE WORK?

How does Allbridge work? | Source: Allbridge

Allbridge simplifies the asset transfer process for users while involving several entities behind the scenes. So, how does Allbridge work?

2.1. User Perspective:

User completes two transactions: a send transaction on the source blockchain and a receive transaction on the destination blockchain.

2.2. Under the Hood:

Users interact with four main entities: Users themselves, Source blockchain smart contract (Blockchain A), Destination blockchain smart contract (Blockchain B), and Validators.
Allbridge supports four types of token transfers: Native-Native, Native-Wrapped, Wrapped-Native, and Wrapped-Wrapped.
Let's focus on Native-Native token transfer:
- The user initiates a transfer of tokens to a smart contract on Blockchain A. This smart contract records the recipient's address and the amount of tokens to be received on Blockchain B.
- The smart contract on Blockchain A securely locks the received tokens and generates a request log.
- The user requests a validator to verify the generated log.
- The validator validates whether the funds have been successfully locked in the smart contract on Blockchain A.
- If the funds are confirmed, the validator provides their signature to the user.
- The user submits the received signature to the smart contract on Blockchain B.
- The smart contract on Blockchain B instantly releases the corresponding tokens to the user.

3. WHAT IS ABR TOKEN?

What is ABR coin? | Source: Allbridge

ARB token (ABR) is the native utility token of Allbridge. It plays a vital role within the Allbridge ecosystem and serves multiple purposes. Here are the key details about the ABR token:

3.1. ABR Price

The price of ABR token can vary and is subject to market fluctuations. It is influenced by factors such as supply and demand dynamics, market sentiment, and overall cryptocurrency market conditions. Users can check the current price of ABR on various cryptocurrency exchanges.

3.2. ABR Tokenomics

Token Name: Allbridge
Ticker: ABR
Blockchain: Solana, Ethereum
Token Standard: ERC20, SPL (Solana)
Contract:
- Ethereum: 0xa11bd36801d8fa4448f0ac4ea7a62e3634ce8c7c
- Solana: a11bdAAuV8iB2fu7X6AxAvDTo1QZ8FXB3kk5eecdasp
Token Type: Utility.
Total Supply: 100,000,000 ABR
Circulating Supply: Updating.

3.3. ABR Allocation

Ecosystem DAO: 25%
Liquidity mining and validator incentives: 20%
Marketing and partnership incentives: 11.875%
Development incentives: 11.5%
Team: 11%
Liquidity pools on various blockchains: 10%
APYS staking: 5%
APYS snapshot: 5%
Token Sale: 0.625%

ABR Token Allocation | Source: Allbridge

3.4. ABR Use Cases

ABR token serves various use cases within the Allbridge ecosystem, including:

Paying bridging fees: ABR is used to pay the fees associated with transferring assets between different blockchains using Allbridge.
Staking for fee discounts: Users can stake ABR tokens to receive discounts on bridge fees.
Paying subscription fees: ABR tokens can be used to pay the subscription fees for projects utilizing Allbridge's services.

4. HOW TO GET ABR TOKEN?

Users can acquire ABR tokens through the following methods:

Joining the Allbridge airdrop event on APYSwap.
Staking on APYSwap.
Farming on Orca.

5. HOW TO BUY ABR TOKEN?

To buy ABR tokens, users can visit reputable cryptocurrency exchanges such as Uniswap, Raydium, Orca, ApeSwap, and explore the trading pairs available for ABR. Users can trade their desired cryptocurrencies for ABR tokens on these exchanges.

6. SHOULD I BUY ABR TOKEN?

The decision to invest in ABR token or any cryptocurrency depends on various factors, including personal financial goals, risk tolerance, and thorough research. It is essential to conduct comprehensive due diligence and evaluate the project's fundamentals, market trends, and potential risks before making any investment decisions.
In conclusion, ABR Coin and Allbridge revolutionize cross-chain transactions and empower users in the decentralized finance landscape. Allbridge seamlessly connects multiple blockchains, offering access to diverse decentralized applications and DeFi protocols.
ABR Coin provides benefits such as governance participation and staking rewards, fostering community engagement. Allbridge conducts airdrops, rewarding users and attracting new participants. All the information about ABR coin, including price, the platform's functionality, and the applications of the ABR token within the Allbridge ecosystem, are extensively updated on Klarda. Don't forget to follow us!