In partnership with Chainsafe Systems, ETC Labs is bringing DAI stablecoins to the Ethereum Classic (ETC) blockchain. The partnership was announced by ETC Labs on October 28th. The proposed bridge would allow users to swap DAI stablecoins between the ETC and Ethereum blockchains.
According to Decrypt, the DeFi space will benefit from the partnership with the addition of users familiar with the Ethereum structure.
Speaking to Decrypt on the collaboration, the CEO of ETC Labs, Terry Culver, revealed that the DAI-ETC bridge would launch on November 18th. He also noted that the launch would be one of the company’s several efforts to make the ETC community have direct access to DeFi projects.
In addition, the CEO revealed ETC Labs’ other plans:
“We are currently working on listing on various platforms and are working with several projects to build directly on ETC, and we invite other projects to join us.”
Chainsafe CTO Gregory Markou also commented on the partnership in a press release:
“We are proud to be working with ETC Labs using ChainBridge to connect DAI with ETC. This is a huge stride towards financial inclusion and to empowering people and organizations to build and innovate through blockchain and other distributed technologies.”
In 2016, Ethereum Classic separated from the Ethereum blockchain due to a change in the underlying rules of the Ethereum protocol.