Wombat’s Cross Chain Pool Beta: Making DeFi More Accessible
The significance of accessibility and interoperability has never been clearer. In order for protocols to foster growth and adoption, these factors are crucial. Think of cross chain capabilities as bridges that connect different islands in the world of decentralized finance. These bridges let assets move smoothly between different blockchains and is important for DeFi to grow because it makes everything work better together.
Wombat is on a mission to ensure that DeFi is accessible to all, and we are on the brink of a major achievement with the upcoming launch of our Cross Chain Pool Beta on September 6, 2023. The innovative combination of multichain and cross chain efforts will greatly maximize capital efficiency, bringing significant benefits to users.
What is Wombat’s Cross Chain Pool?
Forget juggling multiple platforms — with Wombat’s new Cross Chain Pool, you can seamlessly swap stablecoins across various blockchains. In the initial beta phase, you can easily trade stablecoins like USDT and USDC from different networks like BNB Chain, Arbitrum, and Ethereum, all in one place.
By utilizing the concept of coverage ratio, the cross-chain pool improves capital efficiency, allowing for optimal swap rates even with relatively low amounts of funds. Wombat leverages the Wormhole’s established cross-chain security and decentralization, adding an extra layer of reliability for inter-chain transactions.
For an in-depth look at the innovative mechanics powering our cross-chain AMM, we encourage you to check out the litepaper for a comprehensive overview: https://www.wombat.exchange/Wombat_Cross_Chain_AMM.pdf
The Advantages of Wombat’s Multichain and Cross-Chain Model
With the pioneering Cross Chain Pool Beta, Wombat cements its leadership in multichain and cross-chain protocols within the DeFi landscape. By aggregating all the liquidity from various chains into one place, Wombat transcends fragmented liquidity and empowers seamless swapping experience across all networks.
Wombat’s all-in-one swapping functionality not only saves users valuable time but also reduces transaction costs compared to performing individual swaps across diverse protocols, without worrying about delays or extra fees at the same time
In addition to the inherent efficiency of the platform, Wombat’s intuitive user interface streamlines the management of liquidity positions across different chains, further simplifying the user experience.
Looking Ahead
As the Cross Chain Pool Beta prepares to launch, Wombat encourages users to explore its features and experience the enhanced convenience firsthand. Looking beyond the Beta phase, Wombat has ambitious plans for the cross-chain pool. A full launch is on the horizon, promising additional features such as a router that facilitates swapping across an even broader range of tokens and chains.
Wombat is committed to expanding its presence in the DeFi space by deploying the cross-chain pool on more chains, ultimately offering users a comprehensive and interconnected DeFi ecosystem. As the platform continues to innovate, it solidifies its mission to democratize DeFi and make it accessible to a global audience.
About Wombat Exchange
Wombat Exchange is a multichain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.
Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:
