In the light of recent events that are unfortunately taking place in the world, we see the problems of decentralization in the field of cryptocurrency. Users can be blocked from accessing assets or even simply taken away. Decentralization and blockchain, these words should be synonyms that go hand in hand.
Symbiosis Finance is a decentralized multi-chain liquidity protocol, which allows its users to swap assets between all the blockchains.
Symbiosis Finance is a kind of a true Satoshi’s vision on decentralized finance - you will always be in control of your private keys.
Why is the Symbiosis Finance attractive to crypto community?
The biggest positive point is the simplicity of swapping: all you have to do is to visit the symbiosis.finance, choose any coin you want to swap on any other supported blockchain and make the swap. You are done!
Blockchain networks supported by Symbiosis work as liquidity pools.
A liquidity pool is a crowdsourced pool of cryptocurrencies or tokens locked in a smart contract that is used to facilitate trades between the assets on a DEX.
Basically what it means is that any decrease or increase in the volume of an asset in a liquidity pool will have an impact on its prices. This opens up additional arbitrage possibilities for traders.
SIS Token
Symbiosis has its own protocol token SIS. SIS is an ERC-20 token which is used as a governance token of Symbiosis DAO and Treasury. On top of that, relayers network nodes have to stake SIS to participate in consensus and process swaps.
The token is currently ranked #3272 on CoinMarketCap and has more than $12.000.000 market capitalization. The total market cap of the Automated Market Makers is more than $12 billion, leaving lots of room for growth for Symbiosis.
To get SIS token is easy. It is being traded on multiple exchanges. Check this link if you want to get some SIS.
Please remember to always do your own research before buying tokens.
If you want to go deeper into the project, then follow the links below to explore and learn more.
