Symbiosis: The Pioneer and Innovator of Cross-Chain Trading

In today's rapidly developing blockchain technology, interoperability and liquidity issues have always been significant challenges faced by the industry. With the emergence of numerous blockchain networks (including Layer 1 and Layer 2) and different virtual machine environments (EVM and non-EVM), users and developers are in urgent need of a solution that can enable seamless asset exchange across multiple networks.

Symbiosis was born as a cross-chain AMM DEX platform, aimed at addressing these key issues. This article will delve into the operational mechanisms of Symbiosis, its technological advantages, and the reasons it is undervalued.

The Current State and Challenges of Cross-Chain Trading

Before fully understanding the advantages of Symbiosis, we need to first recognize the main challenges faced by current cross-chain transactions. With the continuous launch of various public chains, more and more projects choose to build on different blockchains. However, this diversity has also brought about bottlenecks in interoperability between networks. Although traditional single-chain structures have advantages in terms of security and stability, there are significant limitations in communication and asset circulation between chains.

Currently, the main issues faced by most cross-chain projects include:

1. Complex Operation: Users often have to go through multiple steps to exchange assets between different blockchains, involving different wallets and bridging services, making the process cumbersome and prone to errors.

2. High Costs: Cross-chain transactions involve fees from multiple networks, and these costs can significantly increase, especially during frequent operations.

3. Security Risks: Cross-chain bridges and relay services often become targets for hacker attacks, making fund security difficult to guarantee. Historically, there have been multiple incidents where huge amounts of funds were stolen due to attacks on cross-chain bridges.

4. Cross-chain assets are limited and single: Due to the high cost and complexity of cross-chain technology, most cross-chain projects only support a portion of assets from a part of the chains, leading to excessive limitations and a poor experience.

In this context, Symbiosis provides a more efficient, secure, and user-friendly cross-chain solution.

Core Functions and Technical Architecture of Symbiosis

Symbiosis is a decentralized cross-chain automated market maker (AMM) platform designed to aggregate liquidity across different blockchains, whether they are EVM compatible or not, including the BTC ecosystem.

Through Symbiosis, users can easily achieve token exchanges between different networks, completing complex cross-chain transactions in a single operation in the form of Swap. This seamless user experience relies on the unique technological architecture of Symbiosis.

On-chain smart contract

Symbiosis utilizes on-chain smart contracts to handle the logic of cross-chain transactions. These contracts are deployed across multiple supported blockchain networks, ensuring the decentralization and transparency of cross-chain transactions. Each cross-chain transaction initiated by users is processed through these smart contracts, ensuring the accuracy and security of the transactions.

Off-chain relay network

In addition to the on-chain smart contracts, Symbiosis has also designed an off-chain relay network. These relay nodes are responsible for transmitting messages and assets between different blockchains, thereby enabling cross-chain communication. The non-custodial design of the relay network ensures the security of transactions while improving their efficiency.

Seamless cross-chain exchange

The Symbiosis platform allows users to seamlessly complete cross-chain asset exchanges on a single interface, offering more freedom and flexibility compared to other cross-chain platforms, and supports a wider variety of tokens. Regardless of the type of tokens users hold, and regardless of which network these tokens are on, they can easily exchange and transfer them through Symbiosis.

Pool and Zap

Users can provide liquidity on any chain supported by Symbiosis and earn rewards, and can also use the Zap feature to simplify cross-chain and DeFi interactions into a one-stop operation. Any asset on any blockchain can be supplied to lending, farming protocols, or Symbiosis Octopools on another blockchain with a single click (one transaction). Cross-chain Zaps currently support multiple well-known DeFi protocols.

Advantages and Innovations of Symbiosis

The emergence of Symbiosis not only addresses many pain points of current cross-chain transactions but also possesses unique advantages in various aspects, making it the future paradigm and leader of cross-chain projects.

High interoperability

Symbiosis supports liquidity for up to 34 blockchains, covering both EVM-compatible and non-EVM-compatible chains, including TRON, TON, a part of the BTC ecosystem, etc., and is the core cross-chain bridge of TON.

Generally, cross-chain projects only support a few types of assets for cross-chain transactions, and there are many limitations. Symbiosis, after supporting multiple assets cross-chain, allows obtaining any supported assets. This broad network support means that users can freely move funds within a wider ecosystem, no longer restricted by a single network.

Minimalist User Experience

Symbiosis presents the process of cross-chain and Swap to users through a simple UI, allowing complex transaction processes to be completed with just one step. It also supports receiving cross-chain assets by entering only the address, maximizing user experience.

Users can complete all cross-chain operations on a single interface without the need for third-party tools or complex bridging services, lowering the barrier to entry and helping Web3 release more liquidity.

The platform's design has greatly simplified the operational process, making cross-chain transactions as easy as single-chain transactions.

Powerful Security

The on-chain smart contracts and off-chain relay network of Symbiosis are meticulously designed to ensure the security and transparency of cross-chain transactions. The non-custodial architecture further reduces the risk of funds being attacked by hackers, while also avoiding centralized control over user assets.

Symbiosis has passed audits from multiple security agencies and will undergo further audits to ensure the strongest security.

Low cost and high efficiency

The efficient architecture and automated market maker mechanism of the Symbiosis platform reduce the costs of cross-chain transactions and provide faster trading speeds. By aggregating liquidity from multiple networks, Symbiosis is also able to offer users more competitive prices and lower slippage.

Decentralization and Community-Driven

The fully decentralized design of Symbiosis means that all cross-chain transactions are automatically executed by smart contracts, without the intervention of centralized institutions. In addition, Symbiosis encourages community participation, allowing users to play an active role in the platform's development through governance tokens and various reward mechanisms.

Symbiosis Background Information

Symbiosis supports seamless asset exchanges across 34 blockchain networks, having processed over $2.5 billion in exchange volume, completed over 2.34 million transactions, and interacted with nearly 390,000 wallets.

Symbiosis has been integrated into all major aggregators, including several well-known platforms, and has closely collaborated with multiple exchanges.

Symbiosis has received investments from several well-known investment institutions, as well as funding from multiple mainstream projects, and has served as the core bridge of TON, further enhancing its influence in the cross-chain ecosystem.

Governance Token SIS

The governance token of Symbiosis is SIS, with a maximum supply of 100 million, of which 65% is already in circulation. SIS can be used on five chains: Ethereum, BNB, zkSync, Linea, and Scroll. It has already been listed on more than 20 exchanges.

The main features of SIS include:

• Governance Voting: SIS holders can participate in the decision-making process through voting, especially regarding decisions related to Symbiosis DAO.

• Protocol Security: SIS is used for relay rewards, ensuring the stable operation of the relay network.

• Protocol Incentives: Earn SIS rewards by participating in Symbiosis activities.

SIS adopts the VE model, where holders stake SIS to obtain veSIS and enjoy multiple rights:

• Symbiosis will distribute a certain amount of airdrops (Scroll, Linea, ZetaChain, etc.) to veSIS token holders.

• Voting rights in Symbiosis DAO

• Increase returns on liquidity supply

• Up to 60% reduction in cross-chain fees

• Native earnings from staking SIS

• Other possible rights and rewards

In July, a proposal to burn 251,384 SIS tokens was passed through a DAO vote, and the destruction was executed on August 7, which accounted for 0.25% of the total supply of SIS.

This burn marks a new phase for Symbiosis, as the ecosystem will continue to iterate and optimize, implementing various mechanisms to bring SIS into a deflationary era, enhancing the value of SIS and further advancing towards Symbiosis v3.

The current total market value of SIS is only 17.64 million, which has significant room for growth compared to similar projects. Compared to other competitors, Symbiosis has a lower market value, but its technological maturity and collaborative network give it great potential, making it very likely to be the future dark horse in the cross-chain field.

Future Outlook of Symbiosis

Symbiosis, as a leading cross-chain AMM DEX platform, is reshaping the way assets are exchanged within the blockchain ecosystem. Through its unique technological architecture and innovative solutions, Symbiosis is addressing the major pain points in cross-chain trading and bringing more opportunities and possibilities to Web3.

Looking ahead, with the addition of more blockchain networks and the introduction of more sources of liquidity, Symbiosis is expected to further solidify its position in the Web3 ecosystem and become a leader in the cross-chain technology field. For users and developers looking to freely move funds across different blockchains, Symbiosis is undoubtedly a platform worth paying attention to and participating in.