Symbiosis Finance is a multi-chain AMM DEX and liquidity protocol that allows users to make any crypto token trade.
After a long testing period, Symbiosis announced the launch of its beta mainnet that enables instant trades without the need for special software, leveraging a simple solution to move liquidity across different chains.
The core of the symbiosis protocol
As a decentralized multi-chain liquidity protocol, Symbiosis allows users to trade assets between different blockchains while remaining the sole owner of funds.
So far, the protocol supports networks including BNB Chain (formerly BSC), Ethereum, Polygon, and Avalanche. However, more networks will be added in the near future.
That said, the protocol supports four leading DEXs, including Uniswap, PancakeSwap, Pangolin, and QuickSwap.
Per the announcement, the protocol intends to continue expanding its list of supported DEXs, creating competition between them, ensuring that Symbiosis users receive the best prices during their token trades.
An attraction, so divine, strong reaction, so alive.
Very good very good.
Symbiosis main β network is here.https://t.co/Ju21KSeyWX
— Symbiosis works 👾 (@symbiosis_fi) March 9, 2022
The Symbiosis Protocol Token is implemented in SIS on Ethereum and is used for governance of the Symbiosis DAO and DAO Treasure, and/or for staking to run a node on the relay network.
All blockchain networks supported on Symbiosis function as liquidity pools, making asset prices dependent on the volume of funds available in a pool.
That said, any increase or decrease in the volume of assets in a pool will create arbitrage opportunities for traders.
Easy to use solution to move liquidity through different chains
Symbiosis beta mainnet allows users to trade “any token for any token” without the need for special software.
Additionally, it is compatible with all major wallets including MetaMask, Coin98, Trust Wallet, and ONTO Wallet.
According to Symbiosis Finance, the protocol has undergone three severe security audits, conducted separately by SlowMist, Omniscia, and Zokyo, with more to follow.
Following the launch of the mainnet, Symbiosis will add new blockchains, including Solana, Terra, Celo, and Boba Network, among others.
According to the protocol announcement, Symbiosis v.2 is in the works with sidechains implemented and additional features, including unified AMM pools, cross-chain farming, and intelligent order routing.
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This post Multi-Chain Instant Exchange Platform Symbiosis Announces Beta Mainnet Launch
was published first on https://cryptoslate.com/multi-chain-instant-swap-platform-symbiosis-announces-beta-mainnet-launch/
