Symbiosis

A Cross-Chain Engine and Liquidity Protocol linked to Milkomeda C1.

What is Symbiosis?

The Symbiosis protocol acts as a cross-chain AMM DEX and interchain communication protocol while meeting the following requirements

Simple, Uniswap-like user experience

Any to any token cross-chain swaps between EVM and non-EVM chains in 1-click. No additional wallets, long waiting time, or extra steps to proceed with a swap.

Interchain communicating

1-click experience to provide liquidity to lending and farming protocols or buy NFT on another blockchain.

Fully decentralized

No central party can stop the Symbiosis protocol or censor users from accessing it.

Interoperable

The protocol connects every blockchain that gets enough market attention. Our ultimate goal is to bridge all blockchains together.

Non-custodial

No one (including the Symbiosis team) has access to users' funds.

Limitless cross-chain liquidity

The protocol targets as many token pairs as possible across all blockchains while providing the best prices for swaps between any arbitrary token pair.

Supported blockchains

Ethereum
Binance Smart Chain (BSC)
Polygon
Avalanche
Boba
Telos
Aurora
Milkomeda

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Industry

DeFi

DEX

Lending Protocols

Lending protocols in the DeFi world allow people to loan or lend money in a peer-to-peer manner, i.e. without the banking middleman. These loans are secured by the lender over-collateralizing the loan and the terms of the loan being managed in a smart contract. This gives the unbanked or those who have poor credit the ability to take loans, and it gives those with excess capital the opportunity to provide loans in a secure and trustless manner, and to earn income from them.

Over-collateralization means that the person receiving the loan locks up more than the value of the loan to secure it e.g. if they want to loan 100 they must lock up 150. How much they over-collateralize the loan by, and which tokens they use as collateral, depends on the platform. Some platforms only accept stablecoins, and other accept a variety of crypto assets. Typically, an individual uses one asset for collateral and takes a different asset as their loan.

An important factor in all loans is the interest rate and the length of the loan. These vary greatly by lending protocol, and loans can have fixed interest rates and periods, or infinite periods with interest rates that fluctuate throughout the loan period, fluctuating based upon the utilization rate of the pool of funds the loan was drawn from.

Importantly, the receiver of a loan is expected to maintain a certain ratio of collateral to loan, meaning that if the value of their collateral drops below that of their collateral to loan ratio, they need to add more collateral to keep the required balance. If they don’t keep up the collateral ratio they face liquidation and the loss of their collateral.

To "become the bank" those with idle tokens can deposit them into a lending protocol and earn from the interest derived from the loans their tokens are used to facilitate. Usually this deposit requires a lockup period of a certain length of time. Often, the longer the lockup period the higher the percentage return for the depositor.

DEX

Here is a Cardano DEX list for you to explore all the decentralized exchanges built on Cardano. There are multiple Cardano DEX projects for you to choose from, each with a different take on the DEX concept and the way of managing a decentralized exchange protocol.

Listed here are Cardano DEX projects that are based on both the automated market maker (AMM) and the traditional order book style of exchange. Both types of DEX on Cardano, like any other exchange, require a good amount of liquidity to operate effectively. This leads many to say that the best Cardano DEX is the one with the most liquidity. However, there are many other factors that the users of these DEXes would tell you to take into account before deciding which is the best Cardano DEX, and which one you should interact with (although a high amount of liquidity is a good indicator for users).

Interestingly, many Cardano exchanges, such as Sundaeswap, use the concept of “batchers” to collect, order, and execute transactions. This reliance on a small group of batchers to order and execute user transactions reduces the decentralized nature these exchanges as these entities could easily collude to front run transactions from particular wallets or to censor transactions from other wallets.

Cross-Chain

The protocols and projects tagged here are interoperable with one or multiple other blockchains. Projects with this tag include those that provide the infrastructure of this inter-chain-operability, such as the providers of blockchain bridges, or they could be protocols or projects that operate across multiple chains by utilizing these blockchain bridges. There are also projects that can be cross-chain without these blockchain bridges, however these usually rely on a 3rd party, custodial entity to facilitate this, instead of a trustless, blockchain bridge.

AMM

AMM stands for Automated Market Maker. This is an algorithm, often supplemented by oracles, that facilitates the pricing and exchange of assets between users. Assets are exchanged at market value through liquidity pools. These pools are created by Liquidity providers, LPs, who deposit assets to the exchange in pairs. This “asset pair” then allows users to swap one asset for the other through the liquidity pool. Fees are paid to the LPs who provided the liquidity. The more liquidity a pair has the less “slippage” a user experiences, meaning the less likely the user is to experience a price change in their trade.

What is Symbiosis?

Simple, Uniswap-like user experience

Interchain communicating

Fully decentralized

Interoperable

Non-custodial

Limitless cross-chain liquidity

Supported blockchains

Project Cards

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