Symbiosis: A New Chapter for Cross-Chain AMM DEX

In the context of the rapid development of blockchain technology, interoperability and liquidity issues have been core challenges faced by the industry. With the emergence of more and more blockchain networks and different virtual machine environments, both users and developers urgently need a solution that can seamlessly exchange assets across multiple networks.

Symbiosis was born as a cross-chain AMM DEX platform, aiming to address these issues. This article will delve into how Symbiosis works, its technical advantages, and its significance in the cross-chain trading space.

The Current Situation and Challenges of Cross-Chain Trading

With the continuous emergence of various public chains and layer two solutions, an increasing number of projects are choosing to build on different blockchains. However, this diversity has also led to bottlenecks in interoperability between networks. Although the traditional single-chain structure has advantages in terms of security and stability, it faces significant limitations in communication and asset circulation between chains.

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

1. Complex Operation: Users exchanging assets across different blockchains often have to go through multiple steps, involving different wallets and bridging services, which makes the process cumbersome and prone to errors.

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

3. Security Risks: Cross-chain bridges and relay services often become targets of hacker attacks, making it difficult to ensure the safety of funds. Historically, there have been multiple incidents where significant amounts of funds were stolen due to attacks on cross-chain bridges.

4. Cross-chain asset singularity and excessive restrictions: Due to the high cost and complexity of cross-chain technology, most cross-chain projects only support a portion of assets from a limited number of chains for cross-chain transactions, resulting in excessive restrictions and a poor experience.

In this context, Symbiosis offers 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 from different blockchains, whether they are EVM compatible or non-EVM compatible, including the BTC ecosystem.

Through Symbiosis, users can easily achieve token swaps between different networks, completing complex cross-chain transactions in a single operation in the form of a 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 on 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 relayers 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 the efficiency of transactions.

seamless cross-chain exchange

The Symbiosis platform allows users to seamlessly complete cross-chain asset exchanges on a single interface, making it more free and flexible compared to other cross-chain platforms, with support for a wider variety of tokens. Regardless of the type of tokens users hold or which network these tokens are on, they can easily exchange and transfer them through Symbiosis.

Pool and Zap

Users can provide liquidity and earn rewards on any chain supported by Symbiosis, 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 provided to lending, farming protocols, or Symbiosis Octopools on another blockchain with a single click (one transaction). Cross-chain Zaps currently support multiple mainstream 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 multiple aspects, making it a future paradigm and leader in cross-chain projects.

high interoperability

Symbiosis supports liquidity for up to 34 blockchains, covering both EVM-compatible and non-EVM-compatible chains, including some non-mainstream public chain ecosystems.

Generally, cross-chain projects only support a limited number of assets for cross-chain transactions, with many restrictions. Symbiosis supports cross-chain transactions for multiple assets, allowing users to obtain any supported asset. This extensive network support means that users can freely move funds within a broader ecosystem, no longer restricted by a single network.

Minimalist user experience

Symbiosis presents the cross-chain and Swap processes to users through a simple UI, allowing complex transactions to be completed in just one step. It also supports receiving cross-chain assets by entering only the address, maximizing the 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 barriers to entry and helping Web3 release more liquidity.

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

strong security

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

Symbiosis has passed the audits of several well-known security audit companies and plans to conduct more 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 higher 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 executed automatically by smart contracts, without interference from 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 many large aggregators and closely collaborates with several well-known decentralized trading platforms.

Symbiosis has received investments from several well-known investment institutions and has also obtained funding from multiple mainstream blockchain projects, 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 multiple mainstream public chains and has been listed on several exchanges.

The main functions 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, enjoying multiple benefits including airdrop distribution, voting rights, increased liquidity supply rewards, and reduced cross-chain fees.

Recently, Symbiosis executed a token burn through a DAO vote, marking the project's entry into a new stage of development, and the ecosystem will continue to iterate and optimize.

Compared to similar projects, SIS currently has a lower market capitalization, but its technological maturity and collaboration network give it immense potential, and it is likely to become a 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 in the blockchain ecosystem. Through its unique technological architecture and innovative solutions, Symbiosis is addressing the major pain points in cross-chain transactions and bringing more opportunities and possibilities to Web3.

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