Allbridge Core Team Member Heading to Devcon 2024

**Allbridge Core has resumed operations** following a security incident that resulted in $1.65M being withdrawn from liquidity pools. **Key changes:** - Core now operates without liquidity pools - Transfers route through CCTP and LayerZero - Eliminates the pool imbalance vulnerability that enabled the attack - Allbridge Next continued operating normally throughout **Timeline ahead:** - In 3 months, both Allbridge Core and Classic will cease operations in their current form - Users should withdraw liquidity before the transition - Full migration to Allbridge Next infrastructure underway The team has confirmed the bridge is safe to use and cross-chain transfers are functioning without interruption. A detailed incident report is forthcoming.

The Open Network (TON), Telegram's decentralized Layer 1 blockchain, has integrated with Allbridge Next, expanding cross-chain connectivity. **Key Features:** - Users can now transfer USDT and GRAM (TON's native token) between TON and other supported networks - Single-bridge solution eliminates the need for multiple steps - Simplifies cross-chain asset movement for TON ecosystem participants This integration builds on TON's recent infrastructure developments, including a Bitcoin bridge launched in 2024 for DeFi applications. The addition strengthens TON's interoperability within the broader blockchain ecosystem. [Try Allbridge Next](https://bit.ly/4w6AR9B)

Allbridge has published its November progress report highlighting several key developments. **Major Updates Include:** - New deposit addresses functionality - ABR0 reveal and implementation details - Achievement of new operational milestones The report covers progress across multiple areas of the platform's development. Users can access the full report and technical implementation details through the provided links. [Read the full November report](https://bit.ly/4rtCsol) [Explore implementation details](https://bit.ly/4rBaLdc)

**Allbridge Core** has introduced **Deposit Addresses** for DAO treasury management, allowing organizations to streamline multi-chain operations. **Key Features:** - Assign unique deposit addresses for each blockchain - **Automatic routing** of inflows to main treasury wallet - Eliminates manual wallet juggling and bridging - Supports stablecoins across multiple chains The solution addresses a common pain point for DAOs managing assets across different blockchains. Instead of monitoring multiple wallets, treasurers can now use a single system that consolidates all incoming funds. **Benefits for Organizations:** - Simplified treasury operations - Reduced operational overhead - Seamless cross-chain payment acceptance - Automated asset consolidation This builds on Allbridge Core's existing infrastructure for cross-chain stablecoin bridging between EVM and non-EVM networks. [Learn more about Deposit Addresses](https://bit.ly/4pmSKgJ)

The stablecoin market has reached a significant milestone with total market capitalization hitting $233 billion. Key developments include: - USDT (Tether) maintains market leadership with 63% share - USDC shows strong growth, now controlling 25.7% of market - Regulatory adoption driving USDC's expansion - New entrant USDe (Ethena) joins top 5 with $6B+ in circulation This growth signals increasing mainstream adoption of digital assets and highlights stablecoins' crucial role in bridging traditional finance with crypto markets. The multi-stablecoin ecosystem continues to evolve, with different tokens serving various market needs.