Symbiosis: An Innovative Cross-Chain Trading Platform

In the rapid development of blockchain technology, interoperability and liquidity have always been significant challenges faced by the industry. With the continuous emergence of various blockchain networks and virtual machine environments, the market urgently needs a solution that can enable seamless asset exchange between multiple networks.

Symbiosis, as a cross-chain automated market maker ( AMM ) decentralized exchange ( DEX ) platform, was born to address these key issues. This article will delve into the operational mechanisms of Symbiosis, its technical advantages, and its significant position in the industry.

The Current Status and Challenges of Cross-Chain Trading

Before fully understanding the advantages of Symbiosis, we first need to recognize the main issues currently faced by cross-chain transactions. With the 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 cross-chain communication and asset circulation.

The main issues facing current cross-chain projects include:

1. Complex operation: Users typically need multiple steps to exchange assets across different blockchains, involving various wallets and bridging services, making the process cumbersome and prone to errors.

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

3. Security Risks: Cross-chain bridges and relay services often become targets of hacker attacks, making fund security difficult to guarantee. Historically, there have been multiple incidents where cross-chain bridges were attacked, resulting in massive fund thefts.

4. Cross-chain assets are limited and singular: Due to the high costs and complexity of cross-chain technology, most cross-chain projects only support a limited number of assets from certain chains for cross-chain transactions, which imposes many restrictions and results in a subpar user 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 AMM platform designed to aggregate liquidity from different blockchains, covering EVM-compatible chains, non-EVM-compatible chains, and even 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 technical architecture.

On-chain smart contract

Symbiosis uses on-chain smart contracts to handle cross-chain transaction logic. 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, guaranteeing the accuracy and security of the transactions.

Off-chain Relay Network

In addition to on-chain smart contracts, Symbiosis has also designed an off-chain relay network. These relays are responsible for transmitting messages and assets between different blockchains, enabling cross-chain communication. The non-custodial design of the relay network ensures transaction security while improving transaction 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, with support for a greater variety of tokens. Regardless of the type of tokens users hold, or on which network these tokens are located, 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 just one click (one transaction). Cross-chain Zaps currently support AAVE, LIDO, and BEEFY.

Advantages and Innovations of Symbiosis

Symbiosis not only addresses many pain points of current cross-chain transactions but also possesses unique advantages in multiple aspects, becoming 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, parts of the BTC ecosystem, etc., and is the core cross-chain bridge for TON.

Generally, cross-chain projects only support a few types of assets for cross-chain transactions, and there are many limitations. Symbiosis supports cross-chain transactions for multiple assets, allowing users to acquire any supported assets. 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 process to users through a simple UI, allowing complex transactions to be completed with just one step. It also supports receiving cross-chain assets by simply entering an 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, reducing the usage threshold and helping Web3 release more liquidity.

The platform 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 avoiding centralized control over user assets.

Symbiosis has passed audits by Omniscia, Zokyo, and SlowMist, 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 cross-chain trading costs and provide faster trading speeds. By aggregating the liquidity of multiple networks, Symbiosis can also 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 intervention from centralized institutions. In addition, Symbiosis encourages community participation, allowing users to play an active role in the development of the platform through governance tokens and various reward mechanisms.

Background Information on Symbiosis

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

Symbiosis has been integrated into all major aggregators, including Li.fi, Socket, Rubic, DODO, etc., and has closely collaborated with several DEX.

Symbiosis has received investments from several well-known institutions and funding from projects such as Mantle, GMX, AAVE, Taiko, zkSync, and TON, further enhancing its influence in the cross-chain ecosystem as a core bridge for TON.

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 has been listed on over 20 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 the 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 airdrop to veSIS token holders.
• Voting rights in Symbiosis DAO
• Increase liquidity supply returns
• Up to 60% reduction in cross-chain fees
• Native earnings from staking SIS
• Other possible rights and rewards

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

This destruction marks the entry of Symbiosis into a new stage, where the ecosystem will continue to iterate and optimize, implanting various mechanisms to bring SIS into a deflationary era, enhancing the value of SIS, and further advancing towards Symbiosis v3.

The current market capitalization of SIS is only 17.64 million, which leaves significant room for growth compared to similar projects. Compared to its competitors, Symbiosis has a lower market capitalization, but its technological maturity and cooperative network give it great potential, making it very 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 trading, bringing more opportunities and possibilities to Web3.

Looking to the future, as more blockchain networks join and more sources of liquidity are introduced, 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 who wish to freely move funds between different blockchains, Symbiosis is undoubtedly a platform worth paying attention to and participating in.