🌈What problem will be solved?
The two basic functions of DeFi market are swapping and lending. We hope to provide users with such a scenario.
Omnichain Swap. In a low-slippage environment,users can swap any assets on chainA for any assets on any chain(including chainA) through one single transaction.
Omnichain Lending. After lending BTC, users can borrow any stablecoin on any chain on one page without supplying BTC on a specific chain to borrow the stablecoin on a specific chain.
To this end, we need to solve the problems of the following two aspects.
Omnichain Swap
The fractured state between bridging and swapping. With the development of ecosystem in each chain, users must often bridge assets multiple times among different chains for higher profits. However, most bridges lack the ability of interacting with smart contracts,especially the ability of combining with smart contracts on the destination chain, users still need initiate at least one transaction manually. The fractured state between bridging and swapping seriously affects the user's experience.
The fractured state among pools in each DEX. Each DEX maintains its own separate liquidity pool. Manually completing an additional transaction in a DEX carries high slippage points for large-fund users. The only way to reduce the slippage is to reduce the scope of influence on the liquidity pool, that is, to expand the liquidity pool or reduce the transaction scale. This problem would be solved if the liquidity among the DEXs could be unified,means it's impossible. That's why the liquidity among DEXs can only be in a fractured state.
BTC Omnichain Lending
Centralized BTC lending.Bitcoin accounts for almost half of the total market value of the crypto market, but all along, the lending business around Bitcoin is basically dominated by centralized institutions. Obviously, this lending model is very fragile, especially in the bear market, the centralized financial institutions are likely to fall into the dilemma of capital turnover due to their own operational problems, which leads to the inability of users to complete even the most basic withdrawal operations.
Lending on single chain.The existing lending protocols can only be carried out in a single chain. Compound and AAVE provide some bitcoin lending services in a decentralized environment.However,if users want to borrow stablecoins from Ethereum, Avalanche or polygon, the first step must be bridging WBTC to Ethereum, Avalanche or polygon. The realization of the cross-chain process must rely on some third-party cross-chain bridges outside the lending platform, which increases the complexity of operation and brings more security risks.
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