What are you building?:
Symbiosis is a decentralized exchange that pools together liquidity from different blockchains, whether they use EVM technology or not. With Symbiosis, users can effortlessly trade any token and transfer their assets across blockchains. No need to worry about which network a token is on or how to move funds between different blockchains. All cross-chain operations are done in a single click (one transaction) at competitive exchange rates and transaction costs.
The Symbiosis protocol is designed to provide a seamless cross-chain trading experience for users, while adhering to the following key principles:
Complete Decentralization: The Symbiosis protocol operates without a central authority, ensuring that no single party can halt its functionality or censor user access.
Interoperability: Symbiosis aims to connect every blockchain that garners sufficient market interest, ultimately striving to create a unified bridge between all blockchains.
Non-custodial: User funds remain secure, as no one – not even the Symbiosis team – has access to them.
Boundless Cross-chain Liquidity: The protocol targets the widest range of token pairs across all blockchains, offering the best prices for swaps between any arbitrary token pair.
What is under the Hood
- Let's have a look at the parts of the Symbiosis protocol (Scheme 1).
Scheme 1. Main components of the Symbiosis protocol.
The Symbiosis protocol consists of two main parts:
The on-chain part: the Symbiosis core contracts. It’s a kind of cross-chain liquidity engine of the protocol.
The off-chain part: the Symbiosis relayers network. It is a P2P network that transfers information about cross-chain operations performed via the Symbiosis protocol between supported blockchains.
The Symbiosis protocol provides the following services:
Cross-chain Swaps: The Symbiosis protocol was born to enable cross-chain exchange. Any token to any token cross-chain exchange is possible across supported blockchain networks.
Interchain Communicating Messenger: With Symbiosis, users can supply liquidity to other DeFi protocols. Yes, it's cross-chain and done in one transaction.
Farming: Symbiosis offers several reward programs for users who provide liquidity to the Symbiosis protocol.
Symbiosis Explorer: Symbiosis Explorer collects and stores data related to cross-chain operations performed via the Symbiosis protocol.
veSIS: By staking SIS tokens, users can receive rewards, increase APR for providing liquidity, and most importantly, gain voting power to shape the Symbiosis DAO.