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In the blockchain industry, it is either you innovate or go down about 60 feet under the ground. Some years ago, if anyone wanted to change from bBTC (Bitcoin on Bitcoin Blockchain) to eBTC (Bitcoin on Ethereum Network). The only available means is to use the service of a centralized exchange.
Bitcoin will be deposited from the Bitcoin blockchain to a centralized exchange, then it can be withdrawn to the Ethereum blockchain. Then Tron blockchain arrived with higher speed and scalability, more people prefer to store their crypto on Tron so they can enjoy faster and cheaper transactions.
Between 2020 to 2021, EVM (Ethereum Virtual Machine) received a lot of attention from different crypto exchanges like Binance, Huobi, Coinex, and Kucoin. The result is that these exchanges now have their own native blockchains, they are forks of Ethereum using different consensus algorithms but similar smart contract capability with Ethereum.
The Global Blockchain Interoperability Race
In the last two years, many cryptocurrency consumers lost count of the number of blockchains that were created in the industry. There are many of them right now, and many thanks for Ethereum Virtual Machine. The fact that numbers of solidity, Rust, and Golang programmers are on the rise also contributed to the increase. There are many disparities within the ecosystem, and people are beginning to understand the need for seamless blockchain-blockchain transactions. Many crypto traders and investors now have digital assets (coin, token, and NFT) on different chains. The world is in dire need of a simple solution that can help in moving liquidity from one chain to another. Without fear of losing their digital assets.
Symbiosis' Solution
Improved Cross Chain AMM Transaction for Arbitrageur
Imagine the possibility of moving stablecoin from Ethereum to BINANCE chain with only 2 clicks of your computer button?
What's more? You can execute a cross-chain swap on the Ethereum chain with a minimal transaction fee, this is mindblowing. Wait, I know this is too much for you, let me explain. Let us assume that you noticed an arbitrage opportunity on Eth on Pancakeswap, maybe the price of Eth is $4000 on Pancakeswap and it is selling for $4,200 on Uniswap. All you have to do is to connect your wallet with the Symbiosis engine, buy Eth on Pancakeswap, cross the bridge, and sell on Uniswap for a 5% profit. You can keep doing this until the is filled.
Welcome to a new world where traders have access to liquidity on multichain, this is a game-changer.
Arbitrage Protection
You can set parameters like the amount of slippage, in a situation where you are projecting that you'd make a 5% profit after a successful cross-chain swap from Pancakeswap to Uniswap. It means that you can set the price slippage to the desired percentage. Should the price exceed this limit, the trade will be canceled automatically. And your asset will return to your wallet.
Symbiosis Bridge
Some years back, there was a bridge called the PoS bridge on the Polygon chain. When multi-chain transactions are initiated between Polygon and Ethereum blockchain, it takes about seven days to receive the token in the receiver address. That was the dark age of the multi-chain token bridge.
Now, users can move cryptocurrencies across bridges effortlessly and more efficiently with Symbiosis. It makes a lot of sense that you can move tokens across more than four blockchains at the moment through Symbiosis. And there is a promise that more blockchains would be added soon, we are living in an interesting time.
Unique Features of Symbiosis
Simple UI/UX: Anyone that is familiar with Uniswap or Pancakeswap interface will be able to use Symbiosis for trading. It is pretty straightforward.
Decentralized and Non-custodial: there is a diplomatic breakdown between Ukraine and Russia recently, and some crypto service providers began to exclude some users for using their services. These service providers are custodial, a non-custodial platform that is the future of the decentralized ecosystem. No third-party can stop you from using Symbiosis, not even the Symbiosis team. This is a big promise to the cryptocurrency community.
Unlimted Cross-chain Liquidity: Gone are the days when some trading pairs have low liquidity on the Binance chain but high liquidity on the Ethereum network. With Symbiosis, trades can leverage cross-chain liquidity without fear of unreasonable price impact, which may prevent trading operations.
Passive Income Opportunity: Decentralized financing is disrupting traditional financing on the global stage and empowering users by providing liquidity on Symbiosis, users will be able to earn SIS tokens and even auto-compound it. Making money without applying physical effort has never been this easy.
Conclusion
The ability to have access to liquidity from different public blockchains will be a big deal moving forward. And especially as the number of blockchains continues to rise. More users will opt for convenience, and embrace Symbiosis as it gives users the tools to interact with several chains on the same web page. Its compatibility with popular wallets like Trustwallet, Metamask, Coin98 will open-up Symbiosis for massive adoption.
More Information About Symbiosis
To find out about Symbiosis, I recommend you visit their Medium blog. Want to trade on Symbiosis? Check out the here and connect your wallet. Got some questions to ask? Join the active community of traders and investors on
