What is Symbiosis Finance?
Symbiosis finance came out as a much-needed decentralized multi-chain liquidity protocol whose main goal is to put an end to liquidity fragmentation and help crypto users break free from the age-old confusion of swapping between two different crypto standards like ERC20 and TRC20. Symbiosis finance’s liquidity protocol basically aggregates exchange liquidity across different EVMs (Ethereum virtual machines) and even non-EVMs to allow crypto swaps to occur.
Features of Symbiosis Finance:
Symbiosis finance’s team has ensured that this platform is easy to use for crypto enthusiasts in a way similar to Uniswap. The symbiosis finance follows symbiosis protocol which offers some of the features below;
- No limit over cross-chain liquidity
Symbiosis finance can facilitate limitless token pairs across different blockchains and guarantees that they offer the best price for swaps between any two arbitrary tokens pairs owing to constant monitoring.
- Custody remains with owners
Being a non-custodial service allows users of Symbiosis finance to be the sole owners of their digital assets at any point. Not even the symbiosis finance team has access to user funds in any way.
- Interoperability
As expected from a high-functioning multi-chain liquidity protocol whose ultimate goal is to connect multiple networks, interoperability is an essential feat for symbiosis finance as it can connect every popularly used blockchain available in the market.
- Complete decentralization
Being totally decentralized in the absence of any third party is a necessary requirement for a safe and secure swap platform cum liquidity protocol like symbiosis finance. That is why this protocol cannot be censored by any third party that does not have access to it.
- User-friendly
The main idea behind symbiosis finance protocol was to create a reliable multi-chain liquidity platform that is easy for beginners to understand and utilize whenever they need to swap crypto into another type of crypto but of a different blockchain. Symbiosis does not require users to download a separate software or wallet. Swapping cryptos with symbiosis is easy as doing the same thing on Uniswap.
How to Use it?
The team of symbiosis finance platform released a test version to their platform allowing users to break free from limited pair swaps, move liquidity across different chains, use swap functions with one-click (via MetaMask), and trust a secure platform where no scammers can steal one’s digital coins. The team of Symbiosis finance has chosen a two-layer concept for its scalable liquidity engine that is based on
- Concentrated liquidity pools are actually two automated market makers consisting of stable and native coins.
- Cross-chain routing
Partners of Symbiosis Finance
Since its inception, the multi-chain liquidity enabler, symbiosis finance has partnered with some of the renowned entities active within the crypto space. Bybit, Avalanche Network, Polygon, are some of the many partners of this particular project. Recently, Evolve Capital has joined Symbiosis finance as its newest investor.
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Dislcaimer
this news and reviews blogs are only to educate, inform and deliver information to the public and is not an investment advice. Nothing should be taken as an offer to buy, sell or hold any cryptocurrency
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