Today’s release was a continuation, or rather, a further stage in the development of cross-chain zaps, which Symbiosis introduced earlier. Essentially, cross-chain zaps are a shortcut to liquidity automation where users can invest in various yield protocols (AAVE, Cream, and others).
But providing liquidity is just one example of how to use zaps technology. Generally, it can be applied to any DeFi protocol, NFT, etc. The various applications will be discussed later.
Blockchain interoperability is not a book with a set of rules. This is a wide range of methods that allow different blockchains to “listen” to each other, transfer digital assets and data, and provide better collaboration.
There are decentralized cross-chain bridges that facilitate the transfer of data and assets between Ethereum, BNB, Solana and other blockchains.
But there is clearly no real interoperability. Any bridge is rather an intermediate, but not a final solution to the problem for various reasons that we outlined in our Manifesto.
Each bridge technology has its own convenience, speed, security, and trust trade-offs. For end users, these trade-offs can be difficult to understand.
In general, this is a problem that we are working on. And there seems to be a solution.
Each innovation occurs when there is a certain need, problem or inconvenience.
Symbiosis first automated the provision of LP to Symbiosis stable pools using cross-chain zaps. It is important to emphasize that providing liquidity is only one of the many uses for this technology. Cross-chain exchange logic can be applied to any DeFi protocol, NFT, etc.
Specially for developers
From the very beginning, Symbiosis aimed to develop a set of tools for developers and give them integration options.
This means that any project can come in and use Symbiosis to build interoperability / add native access to any blockchain network to a specific dApp. Such a solution can be used by wallets, aggregators, DAO creators, exchanges, lending protocols, GameFi, NFT and other services.