dForce Trade 2.0: dForce Trade Integrates Celer Inter-chain Messaging to Expand Cross-chain DEX
dForce’s core developers and Celer’s team reached a strategic partnership to integrate Celer’s Inter-Chain Messaging (Celer IM) framework into dForce Trade to facilitate cross-chain swaps across Ethereum, Arbitrum, Optimism and BNB Chain. This is built in addition to the previous Celer cBridge integration and is applied to all assets Celer cBridge currently supports.
The liquidity on dForce Trade will be sourced from both original blockchain and destination blockchain algorithmically to ensure the best price. User experience is smoother now with optimized gas costs and single transactions. Multiple-step processes were removed effectively.
In the following paragraph, we’ll provide a walk-through example of how dForce Trade 2.0 works:
Using dForce Trade, users can convert token X on Chain A to token Y on Chain B in one single transaction. For example, when a user wants to swap $ETH on Ethereum to $BNB on BNB Chain:
- dForce Trade will simultaneously source liquidity and find the best price on Ethereum and BNB Chain, respectively.
- To ensure the best price, dForce Trade protocol will do one of two things: 1. either swap ETH to BNB on Ethereum and bridge BNB to BNB Chain; or 2. bridge ETH to BNB Chain, and swap ETH to BNB for users.
- There will be an estimated fee to cover fees charged by underlying DEXes and cBridge, as well as gas fees incurred on BNB Chain.
- Gas fees on Ethereum are going to be paid by the user directly (exclusive in the estimated fee charges).
- dForce Trade will execute all steps in a fully non-custodial manner.
- dForce’s core developer team plans to integrate with more bridges including Multichain, Stargate, Across Bridge, Hop Bridge, and more in the coming future.
About Celer Network
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
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dForce advocates for building a complete set of DeFi protocols covering assets, lending, trading, serving as layer 0 infrastructure in Web 3. dForce is currently deployed on Ethereum, Arbitrum, Optimism, and BSC with a TVL of $197.7m.
Our core protocols include global-pool based lending and multi-currency stablecoins (USX and EUX). Implemented with PDLP (Protocol-Direct-Liquidity-Provision) and POO (Protocol-Owned-Operator), we are able to combat liquidity shortage effectively for protocols integrated with USX and EUX, and generate the highest possible return for DF holders.
dForce’s smart contracts are audited by Trail of Bits, ConsenSys Diligence, Certik and Certora, with a bug bounty launched through Immunefi.
Learn more about dForce: https://dforce.network/