Streaming music service Audius was originally built to be used on the Ethereum network, but it has gradually embraced rival blockchain Solana as a way to scale to meet increasing demand. Today, the firm announced the latest step in that process: bridging its Ethereum-based AUDIO token to Solana.
Starting today, any AUDIO token holder can move the ERC-20 token from Ethereum to Solana using Wormhole‘s Portal, a cross-platform bridge that lets users “wrap” an asset from one blockchain to use it on the other. When bridging, the native Ethereum tokens are locked into Wormhole’ssmart contract, which then produces new native Solana tokens to use instead.
Whats the value？ Audius says that this bridging process is an important step to bringing more functionality over to the rising Solana ecosystem, with a release claiming that it is “paving the way for future Solana-based features on Audius.” The platform is also now offering new token rewards to users for actions like downloading the mobile app or inviting friends.
Audius adds that it sees this as another potential access point for new users to get onboarded to the blockchain-based music platform. An Audius representative said that Solanas “low-cost, faster, and more environmentally-conscious blockchain” will help the firm “create an accessible gateway to onboard users into the Web3 ecosystem.”