A series of new innovations and integrations have made cross-chain swaps more accessible than ever. The ability to access liquidity on different chains, even if your assets are on a different network, is extremely valuable. It enables price-efficient swaps and reduces liquidity fragmentation that has accelerated in the multi-chain era.
For cross-chain swaps to capture a significant portion of the billions exchanged on-chain daily, they must be deeply integrated into all DeFi ecosystems, easy to use, and capable of achieving higher prices than single-chain DEXes. With each passing week, the promise of a cross-chain landscape that enables free flow of value across crypto networks becomes a reality.
SushiSwap brings cross-chain to the core
Omni-Chain AMM SushiSwap has integrated into Core, the blockchain ecosystem based on a mix of PoS and PoW. New blockchains are always looking to attract DeFi “blue chips,” whose arrival on their network is a sign of maturity and a beacon that attracts other projects. The launch of SushiSwap on Core will support other DeFi primitives emerging on the emerging network and enable the creation of dapps that access Sushi’s liquidity pools.
The ability to perform cross-chain swaps on Core ensures that users of the emerging chain can benefit from better pricing and liquidity levels that can match those of the leading smart contract chains. In addition to swapping tokens on Sushi, core users can provide liquidity, participate in yield farming, and earn staking rewards.
RocketX is expanding its cross-chain aggregator
With more than 200 supported blockchains, including non-EVM networks like Solana and Cosmos, RocketX is at the heart of the cross-chain landscape. Its DEX is the most tangible expression of what it is like to conduct a cross-chain trade in 2023. The choice is overwhelming, but the UX is such that the entire process is as easy as using a traditional DEX. This is despite RocketX pooling more than $100 billion in liquidity across all leading crypto exchanges to help users get the best prices on cross-chain swaps.
As if having thousands of tokens to choose from wasn’t enough, RocketX has just added support for PYUSD, PayPal’s highly touted stablecoin, which can now be purchased with assets like BTC, ATOM, and ETH in one click. In addition, the cross-chain aggregator recently expanded to include the Hedera blockchain, allowing users to access liquidity on networks such as Ethereum and Solana.
Cross-chain bridges are increasing
From a user perspective, the process of executing a cross-chain swap looks virtually identical to that of any other on-chain trade. But a lot is happening beneath the surface. The projects tasked with creating the architecture that facilitates cross-chain transfers must take care of many moving parts and know that there can be no mistakes when billions of dollars are at stake. Optimism has just introduced a new feature that makes it easier to connect any ERC20 token to its L2.
Meanwhile, Orbiter has selected Swing as its cross-chain aggregator. Swing has done more than most to make cross-chain swaps a reality: its API and SDK allow developers to support cross-chain swaps within their dapps without the need for additional coding. This unlocks cross-chain liquidity while freeing developers from the need to sync and maintain multiple blockchain nodes.
The days when Ethereum took up all the liquidity and other chains had to make do are coming to an end. Thanks to better bridges and cross-chain DEXes, value can flow freely when needed. Every day we get closer to the multi-chain future we were promised.
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