An Overview on Pontoon Finance — a Cross Chain Liquidity Mirror Protocol
In this article we will present to you Pontoon, one of latest DeltaHub Capital investments in decentralized finance. Pontoon aims to solve the problem of liquidity fragmentation across disparate chains on layer 1 and layer 2 chains such as binance smart chain, ethereum, Huobi Eco chain, optimism, and polkadot, polygon, in a decentralized and trust-less way by offering users a one-click liquidity mirroring across these chains which serves as an efficient way of bridging assets across blockchain networks. In particular, Pontoon has identified three main problems that it targets to solve in DeFi. These main problems are Centralized Exchange Dependency, unbalanced Liquidity distribution across chains which results in issues such as availability of lots of volume in one chain and problem of lots of slippage in another chain, and non composability of different chains making it difficult to combine them for the intended use case requirements.
Pontoon Protocol — Key features
Pontoon finance has summarized their solutions to the DeFi problems described above as follows:
- The Pontoon Decentralized Relayer Network: Pontoon is building a relayer network for different chains which makes cross-chain transfers, trust-less and gas-less. With Pontoon relayer network each transfer event event across chains is passed on to the bridge.
- Trustless Cross-Chain Bridge: Token Swap across multiple chains is conducted seamlessly with Pontoon state of the art relayer network.
- Cross-chain Liquidity Pool: Users are incentivized to add liquidity and earn rewards in Pontoon native token across chains.
- Composability: Pontoon has designed their protocol to be composable and able to seamlessly interact with any DeFi application seamlessly.
Pontoon’s $TOON Token Utilities
The Pontoon token is used for various utilities including the following:
Governance : Pontoon token holders can vote on the direction of the protocol and decide on fund allocation from the treasury.
Liquidity Pool Incentives for LPs and Relayers : Pontoon incentivizes Liquidity providers for contributing liquidity to the pools on each network of the relayer.
Proof of Stake Relayer Network : Pontoon network is secured by a series of validators running relayer node and as a result users will be incentivized to take part on the fee collected.
To learn more about DeltaHub Capital visit DHC.
Pontoon Finance official Communication Channels:
Official Website: http://pontoon.fi/
Twitter: https://twitter.com/PontoonFi
Telegram: https://t.me/pontoon_fi
GitHub: https://github.com/pontoonfi
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