Seamless Cross-Chain Interoperability for Web3 using Symbiosis
This release is a continuation, or to put it more precisely, a further development of cross-chain zaps that we’ve presented before. Essentially cross-chain zaps represent a shortcut for liquidity automation, i.e. users can invest into various yield protocols (AAVE, Cream and more).
The crucial thing is that the liquidity provision is just a reference for how it can be used. This can generally be applied to any DeFi protocol, NFT, etc.
The Quest of Interoperability
Blockchain interoperability is not a set rule book. It refers to a broad range of techniques that allow different blockchains to listen to each other, transfer digital assets and data between one another and enable better collaboration.
There are decentralized cross-chain bridges that facilitate the transfer of data and assets between Ethereum, BNB, Solana and other blockchains.
However, there’s a clear lack of true interoperability as any bridge is rather intermediate but not the ultimate solution to the problem, for various reasons that we put into our Manifesto.
Each bridging technique makes its own design compromises in terms of convenience, speed, security and trust assumptions. For end-users, these trade-offs may not be easy to understand.
Generally presented, that’s the problem that we’re working on. And, it seems like there’s a Solution.
Symbiosis Interchain Communication Protocol
We believe that every innovation emerges with an exact need or lack or status quo inconvenience.
So first we automated LP provisioning to the Symbiosis stable pools with cross-chain zaps. It’s important to emphasize that the liquidity provision is just a reference for how it can be used. The logic behind cross-chain zaps can be applied to any DeFi protocol, NFT, etc.
Let’s see how it works with Cream.
Thus, we greatly simplify the process of adding liquidity to existing protocols.
Here’s what we had before:
And here how it looks like now:
Curated for BUIDLers
From the very beginning, we were aiming to create a toolset for developers, we’ve made sure that pretty much the same workflow we described is available through our SDKs.
It means that any project can come and use Symbiosis to attain interoperability / add built-in exposure to any blockchain network into the specific dApp. This can be used by wallets, aggregators, DAO builders, swap services, lending protocols, GameFi, NFTs and more.
More to come.
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