Powerledger enables seamless POWR token transfers between Ethereum and Solana with Wormhole NTT
Powerledger (POWR) now enables native multichain POWR token transfers between Ethereum and Solana, powered by Wormhole NTT. After expanding to the Solana mainnet in October last year, Powerledger also brought its platforms, TraceX and Transactive, to the network. Committed to making a lasting impact in sustainability, Powerledger sees collaboration across borders and ecosystems as essential. Expanding POWR to Solana was a natural step, connecting two major Layer-1 networks for greater reach and efficiency.
Powerledger is leveraging Wormhole’s NTT framework to enable seamless transfers of POWR tokens between Ethereum and Solana without fragmenting liquidity. This provides token holders with increased flexibility, allowing them to benefit from both ecosystems. Whether users have been long-time supporters of POWR on Ethereum or have recently joined through Solana’s expansion, they can now easily transfer their tokens between the two networks.
Key benefits of leveraging Wormhole for POWR token holders:
Seamless POWR transfers: POWR token holders can now easily transfer POWR tokens between Ethereum and Solana, powered by Wormhole NTT.
Enhancing dual-chain flexibility: Powerledger’s dual chain approach offers access to the unique strengths of both ecosystems. Wormhole NTT enhances this dual-chain flexibility of POWR, making it easy to natively transfer between POWR on Ethereum (ERC-20) and POWR on Solana (SPL token), offering better versatility to POWR holders.
Better control with decentralised transfer: As an extension to centralised exchanges (CEXs), Powerledger is using Wormhole’s NTT for seamless and decentralised transfers. This can potentially eliminate the need for third-party intermediaries, offering POWR token holders more control, lower fees, and enhanced security when transferring assets across chains.
“Using Wormhole is a strategic move to enhance multichain interoperability for POWR,” said Dr. Jemma Green, Co-Founder and CEO of Powerledger. “This enables seamless and efficient POWR token transfers between Ethereum and Solana, providing POWR holders with greater flexibility. Ultimately, it supports our vision of advancing blockchain adoption in energy markets by making it easier for users to access and interact with multiple ecosystems.”
For multichain transfers, use the correct POWR contract address as below:
– on Solana: PowerhfyX6JqFprXzy89fPBSKqmLj8Yzcvr3FkHrQHR
– on Ethereum: 0x595832f8fc6bf59c85c527fec3740a1b7a361269
Explore seamless POWR transfers via Portal, powered by Wormhole.
For any queries, write to us: enquiries@powerledger.io
