In a multi-chain universe, terms like ERC20, TRC20, and BRC are intimidating, and cross-chain transactions have become one of the biggest pain points in the crypto space. For users who want to get involved in #Web3, the dazzling cross-chain conversions are daunting. From entering the correct withdrawal address to using the correct withdrawal network, the cumbersome process is frustrating. Users have to check the input information repeatedly to avoid making irreparable mistakes. Symbiosis Finance aims to solve the above dilemma, help cryptocurrency users, simplify the cumbersome cross-chain transfers and cross-chain bridges, and complete all cross-chain transaction processes with one click!
Current cross-chain pain points:
In a multi-chain universe, there are many difficulties in exchanging tokens across chains, such as:
• Inefficiency
• Tokens (non-native) that need to be wrapped and moved to the desired chain
• Low security
• Limited trading pairs
• High slippage
• Low liquidity
• Requires Gas tokens on different chains
Symbiosis Finance enables the secure exchange of any token regardless of the blockchain network!
Symbiosis Finance (@symbiosis_fi) is a decentralized multi-chain liquidity protocol (DEX) that integrates trading liquidity on EVM-compatible and non-EVM blockchains, allowing users to exchange tokens across chains with low slippage while remaining the sole owner of funds, providing a seamless cross-chain trading experience. Currently, Symbiosis supports 34 blockchains and more than 430 independent trading pairs, and has achieved a trading volume of up to 2.58 billion since its establishment.
Core components:
The Symbiosis protocol consists of on-chain smart contracts and an off-chain relay network:
The smart contract part of the Symbiosis chain mainly realizes cross-chain operations (cross-chain exchange, cross-chain ZAP, inter-chain communication, bridging) and other operations.
The Symbiosis off-chain relay network is a peer-to-peer (P2P) network designed to enable fast, accurate, and secure information transmission for cross-chain operations. As an off-chain component of the Symbiosis protocol, it plays an important role in the smooth and secure communication of cross-chain transactions.
Core features:
1. Cross-chain liquidity management: Symbiosis Finance provides a cross-chain liquidity protocol that allows users to seamlessly exchange assets between different blockchains.
2. Automatic pool rebalancing: The automatic pool rebalancing mechanism can optimize the configuration of the liquidity pool, attract arbitrageurs to participate, and improve overall liquidity efficiency.
3. Token Teleporting: Symbiosis has introduced an innovative feature called token teleporting, which aims to enhance the interoperability of assets and improve token economics.
Seamless cross-chain transaction experience:
Symbiosis consists of a simple interface similar to Uniswap, which allows you to exchange any token on one blockchain for any token on another supported blockchain with just a click and a single gas fee.
And you can use the tokens you are exchanging to pay for Gas, so you don’t need to own the chain’s native Gas tokens (such as TRX, TON, ETH, BNB, etc.), making the user experience smooth without any Gas fee withdrawal worries!
Recently, the project has been busy:
1.Symbiosis becomes @puffer_finance 's official bridge to#ZetaChain, enabling cross-chain liquidity with over $3 billion in collateral value.
2. Symbiosis participates in the Scroll Canvas platform. As an on-chain activity hosted by Scroll L2, you can currently mint exclusive badges on Symbiosis and get points rewards.
3.Symbiosis cooperates with TON to introduce 34 on-chain assets into the TON ecosystem.
Later stage cooperation is continuously advancing and more blockchains will be introduced, which is worth looking forward to!
Excellent token model:
Symbiosis adopts the Ve model solution. By staking $SIS, you can obtain $veSIS and obtain related benefits:
1. Up to 60% reduction in cross-chain fees
2. Decentralized governance
3.17%-20% APY lock-in bonus
4. Increase APY of LP supply
5. Airdrop Rewards
The project is currently implementing a new deflationary model through $SIS destruction activities and bringing more value and incentives to $SIS holders.
The recent $SIS token burn has received great support and encouragement from the community. This is an exciting event and also marks an important step for Symbiosis towards a new deflationary framework and sustainable development. 0.25% of the supply (251,384 tokens) was destroyed!
Data:
Symbiosis has achieved several major milestones in the past two weeks, including over $2.5 billion in transaction volume, over 2.3 million transactions, over 380,000 addresses, 517.8% cross-chain growth, and 437 unique exchange routes.
Notably, in terms of cross-chain growth, Symbiosis’ total locked value (TVL) has reached over $11 million, with usage on some networks growing by over 600%.
Future Outlook:
1. Native Bitcoin Support: Symbiosis plans to launch native Bitcoin support in the future, which will further enhance its cross-chain interoperability capabilities.
2. New Use Cases and Partners: Symbiosis plans to further expand its ecosystem by continuously adding new use cases and partners.
3. Sustainability: Symbiosis emphasizes the sustainability and long-term development of the platform. It does not rely on inflationary token economics models, but instead maintains the healthy development of the platform through actual liquidity and trading activities and achieves orderly deflation.
The current $SIS coin price is $0.15, and the current circulating market value is only $9.9 million. It is listed on 20 mainstream exchanges such as Bybit, OKX, Huobi, Gate, BingX, etc. Compared with other cross-chain protocols, such as#AXL#STG #SYN, which have a market value of nearly 100 million US dollars, its potential is undoubtedly huge. From the perspective of product strength and team performance, it is worth paying attention to.
Investment Institutions:
The total financing amount of the project is US$2 million.
Investment institutions include: Blockchain, Binance Labs, Dragonfly, DWF Labs, Primitive Ventures and other well-known investment institutions!
In addition, Symbiosis has received funding from Mantle, GMX, AAVE, Taiko, zkSync and TON. Currently, Symbiosis is the core bridge of TON, supporting the connection of TON assets to 33 other blockchains, allowing users to seamlessly bridge assets from EVM to the TON ecosystem, contributing to the prosperity and value exchange of the TON ecosystem.
team:
Nick Avramov is the co-founder of Symbiosis. He has served as a consultant for 0xMarketing and CMO of ChangeNOW.io. He holds a Master's degree in Management Communication Program from IE Business School and a Master's degree in Philosophy from Saint-Petersburg State University.
Aleksei Lushnikov is the CTO of Symbiosis. He has extensive experience in Web3 development and has worked on P2P exchanges, crypto games, and crypto wallets. Aleksei is proficient in blockchain analysis, Ethereum, React.js, Linux, etc. He has served as the development team leader of IDFLY Digital Lab and a software programmer at Kuhni-lebedi. In addition, Aleksei holds a PhD in Software Development from Penza State University.
Summary: Symbiosis Finance, as a cross-chain liquidity management platform, has significant advantages in technology, market demand and community building. Its innovative token transfer and automatic pool rebalancing mechanism, combined with strong cross-chain interoperability, provide users with efficient and low-cost cross-chain transaction solutions. In the future, as more features are launched and the ecosystem expands, Symbiosis Finance is expected to maintain its leading position in the cross-chain DeFi field.
