According to Foresight News, Ethereum's modular execution layer Fuel has announced the opening of its Beta-4 testnet and a native bridge between Ethereum and Sepolia. The Fuel native bridge allows for asset transfers between L1 and L2 and utilizes message portals to handle token standards such as ERC-20 and ERC-721. On L2, tokens have dedicated contracts for message processing and minting on Fuel. Assets deposited into Fuel may take up to six hours to be withdrawn back to Ethereum. The Fuel native bridge is still in the testing phase.
As previously reported by Foresight News, in September 2022, Fuel Labs announced the completion of an $80 million funding round led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic, and ZMT.
