Cross-chain Future: The Rise and Innovation of Symbiosis

In today's rapidly developing blockchain technology, interoperability and liquidity issues have always been major challenges faced by the industry. With the emergence of more and more blockchain networks and virtual machine environments, users and developers are in urgent need of a solution that can seamlessly exchange assets across multiple networks.

Symbiosis, as a cross-chain automated market maker ( AMM ) decentralized exchange ( DEX ) platform, was born to solve these problems. This article will explore in depth the working principles of Symbiosis, its technical advantages, and its potential in the cross-chain trading field.

The Current Status and Challenges of Cross-Chain Transactions

Before delving into the advantages of Symbiosis, we need to recognize the main issues currently faced by cross-chain transactions. With the continuous launch of various public chains, more and more projects are choosing 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, cross-chain projects mainly face the following issues:

1. Complex Operations: Users typically need to go through multiple steps to exchange assets across different blockchains, 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 significantly increase, especially during frequent operations.

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

4. Cross-chain assets are singular and overly restricted: 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, which imposes excessive restrictions and results in 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 platform designed to aggregate liquidity from different blockchains, regardless of whether these blockchains are 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 Symbiosis's unique technological architecture.

on-chain smart contract

Symbiosis uses 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 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 their efficiency.

seamless cross-chain exchange

The Symbiosis platform allows users to seamlessly complete cross-chain asset exchanges on a single interface, providing more freedom and flexibility compared to other cross-chain platforms, with support for a greater 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 returns 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 AAVE, LIDO, and BEEFY.

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 TRON, TON, and part of the BTC ecosystem, making it the core cross-chain bridge for TON.

Generally, cross-chain projects only support a few types of assets for cross-chain transactions, with many limitations. Symbiosis supports cross-chain transactions for multiple assets, allowing for any supported asset. This extensive network support means 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 trading processes to be completed with just one step. It also supports the receipt of cross-chain assets by simply entering an 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 use and helping Web3 to release more liquidity.

The platform's design greatly simplifies 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 hacked while also avoiding centralized control of user assets.

Symbiosis has passed audits by multiple security auditing agencies and plans to conduct more audits to ensure the highest level of 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, providing 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 completely 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 by enabling users to play an active role in the platform's development through governance tokens and various reward mechanisms.

Background Information on Symbiosis

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 DEX platforms.

Symbiosis has received support from several well-known investment institutions and serves as a core bridge for 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, 65% of which is already in circulation. SIS can be used on five chains: Ethereum, BNB, zkSync, Linea, and Scroll. It is already listed on more than 20 exchanges.

The main functions of SIS include governance voting, protocol security guarantees, and protocol incentives. SIS adopts the VE model, where holders stake SIS to obtain veSIS and enjoy multiple rights.

Recently, Symbiosis executed a token burn through DAO voting, marking a new phase for the ecosystem. It will continue to iterate and optimize, and introduce various mechanisms, bringing SIS into a deflationary era and enhancing the value of SIS.

Compared to similar projects, SIS currently has a lower market value, but its technological maturity and collaborative network give it great potential, making it very likely to be a dark horse in the cross-chain field.

Future Prospects 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 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 space. For users and developers who wish to freely move funds between different blockchains, Symbiosis is undoubtedly a platform worth paying attention to and participating in.