EYWA Ecosystem. The present and the future

Hello, dear users!

How long have you been with us? Do you know what the EYWA ecosystem is all about?

We’ll break it down in detail in this article for those who don’t have the full picture yet!

EYWA Cross-chain Data Protocol

The first important part of the EYWA ecosystem is the Cross-chain Data Protocol, which is a data transfer protocol that allows for the transfer of arbitrary data between blockchains.

What are the features and benefits of EYWA CDP?

First, it allows you to quickly transfer data between supported networks.

Second, by using it anyone can create distributed cross-chain applications, some of the examples being our own products: EYWA DEX and Token Bridge. The transport layer for data exchange between blockchains allows developers to create a single architecture consisting of smart contracts in different blockchains. This enables the implementation of new mechanics for Web 3.0 users that were previously impossible.

Third, EYWA CDP gives a whole new level of security due to its decentralized nature, which is what the entire DeFi industry needs.

EYWA Cross-chain Liquidity Protocol

The next part of the ecosystem is the Cross-chain Liquidity Protocol (EYWA CLP), which includes the EYWA Token Bridge — a token transfer bridge between blockchains and EYWA DEX.

EYWA CLP is a protocol that enables projects to manage cross-chain liquidity. Projects using EYWA CLP will be able to provide their end users with the full range of cross-chain trading capabilities quickly and conveniently within a single interface through EYWA Cross-chain DEX. Users, on the other hand, can comfortably move and exchange assets between different blockchains.

EYWA CLP consists of several tools, and today we will talk in detail about one of them — EYWA Token Bridge.

EYWA Token Bridge

EYWA Token Bridge is a mechanism that allows the transfer of assets between different blockchains in the EYWA ecosystem in a convenient, decentralized and secure way.

How does it work?

EYWA Token Bridge consists of Portal and Synthesis smart contracts located in each of the supported blockchains. The EYWA Cross-chain Data Protocol (CDP) is used to validate and transfer data from one network to another.

Another important component of the EYWA Token Bridge for moving assets between blockchains is synthetic token (s-token). S-tokens are created every time someone makes a cross-chain transaction of any coin.

Let’s look at an example:

A user sends a transaction to the EYWA Token Bridge. The original X(A) token is locked in the Portal smart contract of the blockchain A.

The transaction creates an event in the Bridge smart contract, after which the event is tracked and validated by the EYWA Oracle Network.

EYWA oracles validate incoming transactions and perform cross-chain invocations of smart contracts in the target blockchain.

A user transaction invokes a Synthesis smart contract in the blockchain B, which creates a synthetic sX(A) token. A blocked X(A) token in blockchain A acts as collateral for a synthetic sX(A) token.

Note: A user can convert and take back the original X(A) asset at any time.

EYWA DEX

EYWA DEX is an application where users can swap tokens between networks. The main functionality of EYWA DEX aims to provide unique opportunities for projects to create liquid markets for their tokens, such as creating their own cross-chain pools and supporting cross-chain trading of these tokens. In the future, farming will be available in exchange for the ability to attract liquidity providers to these pools.

What is a cross-chain DEX aggregator?

Our product is a cross-chain liquidity aggregator, i.e. it gives the opportunity to trade a fairly large number of tokens. For example, a token may have a liquidity pool on another DEX, and we can support trading of that token as a liquidity aggregator.

What is the advantage of a cross-chain DEX aggregator for the end user?

It supports a large number of tokens across networks that can be bought or sold. Later we will improve these mechanics and the user will be able to exchange any token from one network for any token from another network.

In the future, we will introduce the ability to use the liquidity of all DEXs in all blockchains for exchange transactions, through the development of a universal router and integration with major aggregators such as 1inch, Matcha and Paraswap. This functionality is being developed as we speak!

Let’s summarize: the EYWA ecosystem consists of several basic elements. These are EYWA Cross-chain Data Protocol, EYWA Cross-chain Liquidity Protocol, EYWA Token Bridge and EYWA DEX. Each of them is aimed at maximizing the simplification of the user experience, speeding up transactions, and providing convenient interoperability between different blockchains.

We continue to work on improving each of these components, conduct audits, and plan to bring the product into commercial operation soon.

Stay tuned and thank you for your attention!

EYWA Team