Ethereum has now become the first non-Cosmos network to join the IBC (Inter-Blockchain Communication) ecosystem, while IBC Eureka plans to add networks like Solana, Base, and Arbitrum in the future.
The launch of IBC Eureka follows the testing of interoperability between Ethereum and Cosmos by Interchain Labs developers at the end of March this year.
Interchain Labs unveiled a new bridging product called IBC Eureka, designed to connect the Ethereum and Cosmos blockchain systems.
According to an announcement shared with The Block, IBC Eureka expands on the second version of the Inter-Blockchain Communication (IBC) protocol, allowing for fast and economical connections between Ethereum and Cosmos, utilizing Cosmos Hub ATOM as the basis for IBC routing.
Ethereum has now become the first non-Cosmos network to join the IBC ecosystem. Eureka developers plan to add networks like Solana, Base, and Arbitrum in the future. The system aims to reduce the cost of transferring from Ethereum to Cosmos, including transaction and relay fees, to below $1.
Barry Plunkett, co-CEO of Interchain Labs, stated in an email to The Block: "IBC Eureka represents a significant advancement in cross-chain communication in terms of security and programmability. This will allow developers from Ethereum and Cosmos to build a new category of applications that unify and combine historically fragmented liquidity and protocols across multiple chains. Our mission in 2025 is to continue expanding IBC Eureka, welcoming more chains and creating a truly unified cross-chain economy."
The first projects to connect to IBC Eureka include the decentralized exchange dYdX, the Layer 1 blockchain MANTRA focused on real-world assets, the Bitcoin liquid staking protocol Lombard, and the Bitcoin staking protocol Babylon.
Fisher Yu, CTO of Babylon Labs, stated in a statement: "The ability to incorporate Bitcoin staking LST minted on Babylon Genesis into Cosmos, through IBC Eureka, has taken an important step toward unlocking the full DeFi potential of Bitcoin. This integration provides Bitcoin holders with a seamless, secure, and efficient channel to enter Cosmos DeFi, bringing us closer to achieving Bitcoin unification across every chain and the broader ecosystem."
Interchain Labs is affiliated with the non-profit organization Interchain Foundation based in Switzerland, which is responsible for developing the Layer 1 blockchain Cosmos and its related ecosystem. The launch of IBC Eureka follows the testing of interoperability between Ethereum and Cosmos by Interchain Labs developers at the end of March this year, as previously reported by The Block.
