holoride has introduced its holoride Ethereum Bridge as part of its strategy to expand the holoride universe within the MultiversX ecosystem. This bridge facilitates integration with Ethereum, offering consumers various blockchain options and enhancing the overall ecosystem for RIDE owners.

The decision to connect with Ethereum stems from its robust foundation provided by MultiversX and Ethereum's capacity to broaden holoride's potential. Ethereum's extensive user base, market share, and experienced developer community make it an essential choice. Additionally, Ethereum offers diverse white-label services, governance tools, and connections within the automotive industry.

The benefits of the Ethereum connection extend beyond holoride to the entire community. RIDE owners gain access to more trading, staking, and ecosystem integration options, leading to increased liquidity on Ethereum-based decentralized exchanges and a better balance with the RIDE token.

Ethereum's alignment with holoride's objectives opens up opportunities for partnerships with various businesses and projects, including NFT marketplaces and administrative tools. These options can seamlessly integrate into holoride's existing system, fostering transparency and community support.

The holoride Ethereum bridge is scheduled to go live on October 31, 2023, with plans to introduce additional options for obtaining RIDE tokens. The bridge's development leveraged the existing MultiversX Ethereum bridge code, audited by Sub7, a Web3 security company.

To promote ecosystem sustainability, holoride is implementing a token burn system, where 0.5% of the bridged amount, capped at 2,500 RIDE, will be burned quarterly. This initiative aligns with holoride's commitment to creating an inclusive and robust ecosystem for its users.