- Speedier token swaps on Symbiosis
- Zero impermanent loss pools
- Wallet/interface switching removed
Symbiosis DEX, a cross-chain automated market maker, has taken the DeFi world by storm with its recent integration of zkSync, a layer-2 scaling protocol. This innovative move aims to increase speed and lower fees for token swaps on the platform, shaking up the decentralized exchange landscape.
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Launched in March 2022, Symbiosis has been at the forefront of providing single-sided stablecoin pools that eliminate impermanent loss for liquidity providers. The platform also offers seamless any-to-any native asset swaps across Ethereum Virtual Machine (EVM) and non-EVM networks.
With zkSync on board, Symbiosis now streamlines the user experience by eliminating the need for wallet and interface switching. Co-founder Nick Avramov believes that the integration enhances the platform’s token swap variety, supporting any-to-any native swaps to and from zkSync.
Avramov emphasizes the crucial role of layer-2 scaling protocols in the DeFi ecosystem, as they enable swift and cost-effective liquidity transitions to and from zkSync. This integration further solidifies Symbiosis’ commitment to delivering a superior user experience.
Since its inception, Symbiosis has processed over $100 million in stablecoin transactions, served more than 12,000 unique wallet addresses, and boasts an average of 3,000 daily transactions. The zkSync integration is poised to propel Symbiosis to even greater heights in the competitive DeFi market.
In other news, Rapid advances in artificial intelligence (AI), notably AI chatbots such as OpenAI’s ChatGPT, have sparked heated discussions regarding the ethical implications and potential consequences of these technologies. Artificial intelligence-based image generators, such as Midjourney and DALL-E 2, have also garnered attention and scrutiny.
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