What is the CelsiusX Cross Chain Crypto Bridge & Wrapped Token Infrastructure?

3 min read





Welcome to CelsiusX — the DeFi arm of Celsius.






At launch, CelsiusX will facilitate the wrapping of three assets: wrapped Cardano (ADA), wrapped Dogecoin (DOGE), and wrapped Ether (ETH). By wrapping these assets into an ERC-20 standard, CelsiusX will be able to facilitate bridging these assets for use on EVM compatible blockchains. The first chain that CelsiusX will bridge to will be Polygon.





Why CelsiusX Wrapped Tokens?

The CelsiusX wrapped token infrastructure enables the creation of tokens on a target chain that are collateralized on the native blockchain. While this infrastructure does exist through other providers (for example: wrapped.com, centralized exchanges), the CelsiusX implementation differs from other wrapped collateralized tokens in one key way: our key actions such as minting are functionally controlled by utilizing an oracle service, eliminating the need for trusting a centralized third party.


[YouTube Video: Click Image Above to Play]




[YouTube Video: Click Image Above to Play]


Next Steps

Once the initial launch is complete, a world of possibilities opens up. CelsiusX will rapidly expand in two directions:


  1. Wrapping many tokens:  ADA, DOGE, and ETH are the tip of the iceberg. In promoting a world of full interoperability, CelsiusX will enable wrapping of many other tokens to make them compatible on all different blockchains. These could include SOL, AVAX,, DOT, MATIC, and more. These tokens will all be available on the Polygon ecosystem, thus creating use cases for many non-EVM compatible assets in an EVM ecosystem.


  2. Bridging to other chains:  Polygon is a thriving ecosystem with rapid growth and a bright future. However, as part of a multi-chain, positive sum world, users will want access to opportunities across blockchains and layer 2 solutions, which could include Avalanche, Arbitrum, Optimism, Terra, Cosmos, and Polkadot, among others. By wrapping many tokens and building bridges to many blockchains, CelsiusX can help achieve the vision of connecting users to opportunities across blockchains and assets.


Long Term Vision

CelsiusX embraces the ethos of the crypto and web3 movement: true decentralization, where users have self sovereignty of their own assets and unobstructed access to financial opportunity.

In the near term, the CelsiusX bridge and wrapping infrastructure will include elements of centralization. However, after launch and implementation of its next steps, CelsiusX will progressively adopt decentralized wrapping, minting, and bridging in order to truly connect the CeFi and DeFi worlds in an elegant, crypto-native manner.



*Official PRESS RELEASE via Globe Newswire:  Celsius News Site Launches March 2022 CelsiusX Cross-Chain Crypto Bridge Report

*REDDIT Inquiry Thread:  What is the CelsiusX Cross Chain Crypto Bridge & Wrapped Token Infrastructure?”


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Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions. CelsiusCow.com does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is CelsiusCow.com an investment advisor. DYOR. Please note that CelsiusCow.com participates in affiliate marketing.



*Trending Post #1:  Celsius Network Officially Launches DeFi Arm: ‘CelsiusX’ – Cross Chain Crypto Bridge & Wrapped Token Infrastructure

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