ZUG, SWITZERLAND, February 21, 2025 /EINPresswire.com/ -- Powerledger (POWR) introduces multichain transfers of POWR tokens from Ethereum to Solana and back. In October last year, Powerledger completed its expansion to Solana mainnet and brought its platforms TraceX and Transactive to the network. Powerledger has always believed that in order to have lasting impact with our sustainability initiatives, we need to work across borders and across ecosystems. Expanding POWR from Ethereum to Solana was the logical next step, tying together two of the largest Layer-1 ecosystems.

By leveraging Wormhole’s NTT framework, Powerledger is introducing a seamless transfer of POWR tokens between Ethereum and Solana, offering the best of both ecosystems, without fragmenting liquidity. Regardless of whether you were an early supporter of POWR on Ethereum, or have gotten to know POWR as part of its Solana expansion, you now have the possibility to bridge your assets seamlessly between the two ecosystems.

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 using 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 NTT for seamless and decentralised transfer. 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 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.”

Explore seamless POWR transfers via Portal, powered by Wormhole.

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About Powerledger

Powerledger is a Web3 company that creates pioneering solutions that solve pressing energy challenges, enabling access to cheaper and cleaner electricity. Founded in 2016, Powerledger is known for being Australia’s first and most successful ICO. Powerledger has previously experimented with Bitcoin and Ethereum forks before transitioning to a hard fork on Solana last year. Now, Powerledger is integrated with Solana Mainnet. Headquartered in Zug, Powerledger is recognised as one of the top 50 companies in Crypto Valley, Switzerland.

For more information, please visit https://www.powerledger.io/

Snehal Pawar
PowerLedger
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