Symbiosis’s implementation of BTC cross-chain is quite appealing. There are many BTC packages, such as WBTC and tBTC, but it is still not convenient for ordinary people to directly exchange WBTC for BTC. At the same time, it is also difficult to directly swap native BTC for assets on other chains. Most of them were previously through Thorchain. Symbiosis is another option in the future. Let’s take a look at the implementation process:

1.BTC Forwarder

When a user initiates a cross-chain transaction, the BTC Forwarder component in the Symbiosis system starts working. Its role is similar to that of a "monitor", responsible for monitoring the Bitcoin network and waiting for transactions initiated by users to transfer Bitcoin to the designated address. When it detects that the user's BTC has been sent successfully, it will feedback to the system for the next step.

2.Relayers

Next, the Relayers network begins to intervene. Its role is similar to that of a "coordinator", responsible for transmitting information between different chains and keeping all operations synchronized. Its function is to ensure that the BTC to be transferred across chains are locked, and at the same time notify the target chain that the BTC has arrived and can proceed to the next step.

3.syBTC

During the cross-chain process, Symbiosis cannot change the nature of the Bitcoin network, and the native BTC is not sent directly to another chain. It will be locked in a "safe" in the Bitcoin network, which is managed by the Relayers network. Then a wrapped asset syBTC will be minted on the target chain.

4. Obtain target tokens

Finally, on the target chain, syBTC will be swapped into the target asset (but the amount currently supported is still very small)

In general, its implementation method looks complicated, but it is actually relatively simple, which is based on the logic of lock->issuance. However, its locking method is relatively decentralized, and the track is also vertical. The goal is to support more and more chains and assets, which is to provide a more convenient way for the multi-chain flow of BTC. In terms of financing, it has received US$2 million in investment from institutions such as Binance Labs and DWF. Based on the narrative of "making more BTC active", it is still very much in line with the tone of the times.