SISter Recap: BTC Bridge Launch, SIS Events & Protocol Growth. Symbiosis Recap Q3 ’24
Oct 7, 2024
Oct 7, 2024
5 min reading
5 min reading
Table of content
Three adventurous months have passed since our last recap, and here’s where Symbiosis stands now - with the launched Any-BTC-Any Bridge, successful incentive campaigns and astonishing results of continuous growth.
Dynamic. This could be the best word to describe the third quarter at Symbiosis. And here’s why.
Events of the Quarter
Symbiosis BTC Bridge Launch
It’s a no-brainer - the BTC Bridge launch was definitely the centerpiece of the launch lineup at Symbiosis. The Symbiosis Bitcoin Bridge is fairly a huge step forward to the fullest possible activation of the native Bitcoin DeFi.
We developed and launched a solution for the cross-chain connection of Bitcoin that:
Enables low-cost bridge from and to Bitcoin;
Is faster than the majority of available solutions;
Supports small amounts for the native BTC cross-chain swaps;
Utilizes smart contracts to keep the bridge non-custodial;
Is still being decentralized.
Supporting two-way routes (EVM-BTC-EVM) and utilizing our synthesized version of BTC (syBTC), Symbiosis BTC Bridge is one of the key services that we managed to bring to life. It now allows all Bitcoin folks to seamlessly exchange their preferred tokens (including Stablecoins) to and from the native BTC.
You can access the Symbiosis BTC Bridge in our WebApp!
SISter Recap
Our ecosystem token - the SIS token - has definitely been in the spotlight this quarter, as we introduced and implemented several events.
It all started with the announcement of the Deflation Framework - a lineup of the events and activities to decrease the inflation effect on the SIS token.
The first event within the Deflation Framework was the August’s SIS Burn Event - Symbiosis removed 251,384 SIS tokens from the circulation right after the DAO had spoken on this matter.
Besides the continuous work on the Deflation Framework, we introduced and successfully implemented the Buyback & Bonus event for the SIS stakers (veSIS holders) where 239,491 SIS were bought and distributed to the veSIS holders on ZKsync Era.
One of the key SIS Rewards campaigns was the XP collaboration with Zetachain and our participation in the Zeta RFP Rewards program. Symbiosis Protocol was granted with the sum of 100K ZETA tokens that were later distributed among the veSIS holders.
Pleasant surprises for our beloved community - one of our focus streamlines for the Q4 as well.
Stats, Achievements, Milestones
Now - let’s talk numbers!
Comparing the similar periods of 2023 and 2024, Symbiosis faces an increase in the all important metrics of the protocol. The swap volume in Q3 ‘24 was 39% more than in the same quarter last year, while the numbers of addresses’ & swaps’ metrics experienced the 207% and 272% growth levels respectively.
The Most Used Blockchains in the Symbiosis Protocol - Q3 2024
In terms of the number of transactions, the L2 scalability networks took the most of the top placements, resulting in the Linea, Scroll, Arbitrum One, Optimism and Blast features in the Top 10;
The newcomer of this quarter - Gravity Chain - placed the 10th of the most active blockchains at Symbiosis (transaction-count-wise);
In the category of the most popular blockchains at Symbiosis (volume-wise), the Q3 Top 10 traditionally consists of Layer 2 solutions, now including TRON with over $21 million in the volume of all transactions within 3 months.
Symbiosis Protocol Achievements
Several important achievements led us to the finest version of the Symbiosis Protocol up to this date.
Since the beginning of 2024, our technical improvements have impacted the speed of the bridge and swap transactions, making them 3 times faster, taking half of the txs around 30 seconds (!) to get from chain A to chain B.
In June 2024 we recorded the $2 Billion milestone of the cumulative swap volume, and just in 2 months Symbiosis Protocol secured the additional $500 million volume, getting to the $2,5B mark.
The 2 millionth swap has been made this July via the Symbiosis Protocol. That’s actually not the most fun fact about this metric - we managed to process one million swaps in 3 months (after reaching the 1 million milestone in April 2024).
Oh Symbiosis, the protocol you’re!
Integrations & Launches - Q3 2024
Our team was most probably injected with lots of caffeine, as we introduced numerous new and freshly baked blockchain networks to our WebApp and the Protocol.
The modular Layer 2 blockchain Fraxtal arrived to Symbiosis this July, now supported for cross-chain swaps in the WebApp;
As the Symbiosis DAO has decided the fate of the next integration, we successfully integrated and launched Gravity Chain, a network designed and developed by Galxe platform. With just around a month being live in Symbiosis WebApp, Gravity has already entered the Top 10 of the most active chains in the Protocol!
This summer Symbiosis became the official bridge for Puffer Finance, one of the largest Ethereum liquid restaking protocols and integrated Zetachain for cross-chain swaps, respectively.
Notable Campaigns at Symbiosis in Q3 2024
The campaigns of the past quarter have been active and lively, bringing more rewards and benefits for users. Let’s take a look at their quick sum up.
Arbitrum Incentives Campaign
For 3 consecutive months Symbiosis boosted Arbitrium One by providing ARB incentives for cross-chain explorers. Distributing up to 5 ARB tokens for one transaction to Arbitrum One, we distributed 26,755 $ARB tokens to almost 22 thousand unique addresses, recording over 31 thousand transactions.
Scroll Canvas & Badges
This Summer Scroll launched Canvas - a social platform where DeFi explorers can verify their participation in the blockchain and reputation by interacting with the Scroll dApps, receiving Badges - non-fungible and non-transferable tokens.
We collaborated with Scroll and presented a group of unique badges for cross- and on-chain activities, making our Badges one of the cheapest and easiest to earn and claim and taking 21% of all badges issued and claimed in the Canvas ecosystem!
All Scroll Badges from Symbiosis are now located in our Badges page, check them out here.
Rootstock World Tour
Taking a part in Rootstock's grand campaign, Symbiosis welcomed Web3 explorers to interact with Rootstock, an EVM-compatible smart contracts blockchain on Bitcoin.
We distributed $3,000 among the users who bridged and swapped to Rootstock, providing the network with the liquidity.
Ongoing Campaigns You May Be Interested In
Taiko Incentives
Distributing 40,000 TAIKO tokens back to the community, Symbiosis incentivizes the swaps and bridge transactions to Taiko Mainnet, granting users with up to 5 TAIKO per transaction, cutting the costs of the bridge and network fees while also adding up some sweet sum back.
You can get TAIKO tokens for Swaps right here.
ZETA Incentives - Fall Harvest
Symbiosis takes a part in the Zeta Blockchain’s Fall Harvest, distributing 21,000 ZETA tokens and incentivising users to explore Zeta Blockchain further and deeper.
All transactions are valid, make a cross-chain swap to Zetachain with a min amount of $100 and receive up to 2.3 ZETA tokens!
A Couple of Words for the Q4 2024
Such lively three months have passed - traditionally at Symbiosis. There are still several developments that we plan to launch in the upcoming months, some of them - even until 2025.
Q4 is the timeline for our TON Bridge V2 launch, as we get closer to bridging the gap between TON and 30+ blockchain networks. Expect the news soon!
Our next plans for the upcoming Q4 2024 and the next year is to continue the BTC ecosystem expansion at Symbiosis, adding more chains for support in the Symbiosis BTC Bridge, closer cooperation with Bitcoin L2 solutions, syBTC and restaking collaborations.
SIS and Deflation Framework, new integrations, upgrades to our Rewards programs, campaigns - buckle up for these upcoming three months.
Q4 is going to be momentous!
All About Symbiosis - Links & Resources
Meet Symbiosis closer, and get to know Symbiotes - the power of the protocol, our beloved community.
You can find all the Social and Community links in our only official Linktree.
Important Links:
Three adventurous months have passed since our last recap, and here’s where Symbiosis stands now - with the launched Any-BTC-Any Bridge, successful incentive campaigns and astonishing results of continuous growth.
Dynamic. This could be the best word to describe the third quarter at Symbiosis. And here’s why.
Events of the Quarter
Symbiosis BTC Bridge Launch
It’s a no-brainer - the BTC Bridge launch was definitely the centerpiece of the launch lineup at Symbiosis. The Symbiosis Bitcoin Bridge is fairly a huge step forward to the fullest possible activation of the native Bitcoin DeFi.
We developed and launched a solution for the cross-chain connection of Bitcoin that:
Enables low-cost bridge from and to Bitcoin;
Is faster than the majority of available solutions;
Supports small amounts for the native BTC cross-chain swaps;
Utilizes smart contracts to keep the bridge non-custodial;
Is still being decentralized.
Supporting two-way routes (EVM-BTC-EVM) and utilizing our synthesized version of BTC (syBTC), Symbiosis BTC Bridge is one of the key services that we managed to bring to life. It now allows all Bitcoin folks to seamlessly exchange their preferred tokens (including Stablecoins) to and from the native BTC.
You can access the Symbiosis BTC Bridge in our WebApp!
SISter Recap
Our ecosystem token - the SIS token - has definitely been in the spotlight this quarter, as we introduced and implemented several events.
It all started with the announcement of the Deflation Framework - a lineup of the events and activities to decrease the inflation effect on the SIS token.
The first event within the Deflation Framework was the August’s SIS Burn Event - Symbiosis removed 251,384 SIS tokens from the circulation right after the DAO had spoken on this matter.
Besides the continuous work on the Deflation Framework, we introduced and successfully implemented the Buyback & Bonus event for the SIS stakers (veSIS holders) where 239,491 SIS were bought and distributed to the veSIS holders on ZKsync Era.
One of the key SIS Rewards campaigns was the XP collaboration with Zetachain and our participation in the Zeta RFP Rewards program. Symbiosis Protocol was granted with the sum of 100K ZETA tokens that were later distributed among the veSIS holders.
Pleasant surprises for our beloved community - one of our focus streamlines for the Q4 as well.
Stats, Achievements, Milestones
Now - let’s talk numbers!
Comparing the similar periods of 2023 and 2024, Symbiosis faces an increase in the all important metrics of the protocol. The swap volume in Q3 ‘24 was 39% more than in the same quarter last year, while the numbers of addresses’ & swaps’ metrics experienced the 207% and 272% growth levels respectively.
The Most Used Blockchains in the Symbiosis Protocol - Q3 2024
In terms of the number of transactions, the L2 scalability networks took the most of the top placements, resulting in the Linea, Scroll, Arbitrum One, Optimism and Blast features in the Top 10;
The newcomer of this quarter - Gravity Chain - placed the 10th of the most active blockchains at Symbiosis (transaction-count-wise);
In the category of the most popular blockchains at Symbiosis (volume-wise), the Q3 Top 10 traditionally consists of Layer 2 solutions, now including TRON with over $21 million in the volume of all transactions within 3 months.
Symbiosis Protocol Achievements
Several important achievements led us to the finest version of the Symbiosis Protocol up to this date.
Since the beginning of 2024, our technical improvements have impacted the speed of the bridge and swap transactions, making them 3 times faster, taking half of the txs around 30 seconds (!) to get from chain A to chain B.
In June 2024 we recorded the $2 Billion milestone of the cumulative swap volume, and just in 2 months Symbiosis Protocol secured the additional $500 million volume, getting to the $2,5B mark.
The 2 millionth swap has been made this July via the Symbiosis Protocol. That’s actually not the most fun fact about this metric - we managed to process one million swaps in 3 months (after reaching the 1 million milestone in April 2024).
Oh Symbiosis, the protocol you’re!
Integrations & Launches - Q3 2024
Our team was most probably injected with lots of caffeine, as we introduced numerous new and freshly baked blockchain networks to our WebApp and the Protocol.
The modular Layer 2 blockchain Fraxtal arrived to Symbiosis this July, now supported for cross-chain swaps in the WebApp;
As the Symbiosis DAO has decided the fate of the next integration, we successfully integrated and launched Gravity Chain, a network designed and developed by Galxe platform. With just around a month being live in Symbiosis WebApp, Gravity has already entered the Top 10 of the most active chains in the Protocol!
This summer Symbiosis became the official bridge for Puffer Finance, one of the largest Ethereum liquid restaking protocols and integrated Zetachain for cross-chain swaps, respectively.
Notable Campaigns at Symbiosis in Q3 2024
The campaigns of the past quarter have been active and lively, bringing more rewards and benefits for users. Let’s take a look at their quick sum up.
Arbitrum Incentives Campaign
For 3 consecutive months Symbiosis boosted Arbitrium One by providing ARB incentives for cross-chain explorers. Distributing up to 5 ARB tokens for one transaction to Arbitrum One, we distributed 26,755 $ARB tokens to almost 22 thousand unique addresses, recording over 31 thousand transactions.
Scroll Canvas & Badges
This Summer Scroll launched Canvas - a social platform where DeFi explorers can verify their participation in the blockchain and reputation by interacting with the Scroll dApps, receiving Badges - non-fungible and non-transferable tokens.
We collaborated with Scroll and presented a group of unique badges for cross- and on-chain activities, making our Badges one of the cheapest and easiest to earn and claim and taking 21% of all badges issued and claimed in the Canvas ecosystem!
All Scroll Badges from Symbiosis are now located in our Badges page, check them out here.
Rootstock World Tour
Taking a part in Rootstock's grand campaign, Symbiosis welcomed Web3 explorers to interact with Rootstock, an EVM-compatible smart contracts blockchain on Bitcoin.
We distributed $3,000 among the users who bridged and swapped to Rootstock, providing the network with the liquidity.
Ongoing Campaigns You May Be Interested In
Taiko Incentives
Distributing 40,000 TAIKO tokens back to the community, Symbiosis incentivizes the swaps and bridge transactions to Taiko Mainnet, granting users with up to 5 TAIKO per transaction, cutting the costs of the bridge and network fees while also adding up some sweet sum back.
You can get TAIKO tokens for Swaps right here.
ZETA Incentives - Fall Harvest
Symbiosis takes a part in the Zeta Blockchain’s Fall Harvest, distributing 21,000 ZETA tokens and incentivising users to explore Zeta Blockchain further and deeper.
All transactions are valid, make a cross-chain swap to Zetachain with a min amount of $100 and receive up to 2.3 ZETA tokens!
A Couple of Words for the Q4 2024
Such lively three months have passed - traditionally at Symbiosis. There are still several developments that we plan to launch in the upcoming months, some of them - even until 2025.
Q4 is the timeline for our TON Bridge V2 launch, as we get closer to bridging the gap between TON and 30+ blockchain networks. Expect the news soon!
Our next plans for the upcoming Q4 2024 and the next year is to continue the BTC ecosystem expansion at Symbiosis, adding more chains for support in the Symbiosis BTC Bridge, closer cooperation with Bitcoin L2 solutions, syBTC and restaking collaborations.
SIS and Deflation Framework, new integrations, upgrades to our Rewards programs, campaigns - buckle up for these upcoming three months.
Q4 is going to be momentous!
All About Symbiosis - Links & Resources
Meet Symbiosis closer, and get to know Symbiotes - the power of the protocol, our beloved community.
You can find all the Social and Community links in our only official Linktree.
Important Links:
Three adventurous months have passed since our last recap, and here’s where Symbiosis stands now - with the launched Any-BTC-Any Bridge, successful incentive campaigns and astonishing results of continuous growth.
Dynamic. This could be the best word to describe the third quarter at Symbiosis. And here’s why.
Events of the Quarter
Symbiosis BTC Bridge Launch
It’s a no-brainer - the BTC Bridge launch was definitely the centerpiece of the launch lineup at Symbiosis. The Symbiosis Bitcoin Bridge is fairly a huge step forward to the fullest possible activation of the native Bitcoin DeFi.
We developed and launched a solution for the cross-chain connection of Bitcoin that:
Enables low-cost bridge from and to Bitcoin;
Is faster than the majority of available solutions;
Supports small amounts for the native BTC cross-chain swaps;
Utilizes smart contracts to keep the bridge non-custodial;
Is still being decentralized.
Supporting two-way routes (EVM-BTC-EVM) and utilizing our synthesized version of BTC (syBTC), Symbiosis BTC Bridge is one of the key services that we managed to bring to life. It now allows all Bitcoin folks to seamlessly exchange their preferred tokens (including Stablecoins) to and from the native BTC.
You can access the Symbiosis BTC Bridge in our WebApp!
SISter Recap
Our ecosystem token - the SIS token - has definitely been in the spotlight this quarter, as we introduced and implemented several events.
It all started with the announcement of the Deflation Framework - a lineup of the events and activities to decrease the inflation effect on the SIS token.
The first event within the Deflation Framework was the August’s SIS Burn Event - Symbiosis removed 251,384 SIS tokens from the circulation right after the DAO had spoken on this matter.
Besides the continuous work on the Deflation Framework, we introduced and successfully implemented the Buyback & Bonus event for the SIS stakers (veSIS holders) where 239,491 SIS were bought and distributed to the veSIS holders on ZKsync Era.
One of the key SIS Rewards campaigns was the XP collaboration with Zetachain and our participation in the Zeta RFP Rewards program. Symbiosis Protocol was granted with the sum of 100K ZETA tokens that were later distributed among the veSIS holders.
Pleasant surprises for our beloved community - one of our focus streamlines for the Q4 as well.
Stats, Achievements, Milestones
Now - let’s talk numbers!
Comparing the similar periods of 2023 and 2024, Symbiosis faces an increase in the all important metrics of the protocol. The swap volume in Q3 ‘24 was 39% more than in the same quarter last year, while the numbers of addresses’ & swaps’ metrics experienced the 207% and 272% growth levels respectively.
The Most Used Blockchains in the Symbiosis Protocol - Q3 2024
In terms of the number of transactions, the L2 scalability networks took the most of the top placements, resulting in the Linea, Scroll, Arbitrum One, Optimism and Blast features in the Top 10;
The newcomer of this quarter - Gravity Chain - placed the 10th of the most active blockchains at Symbiosis (transaction-count-wise);
In the category of the most popular blockchains at Symbiosis (volume-wise), the Q3 Top 10 traditionally consists of Layer 2 solutions, now including TRON with over $21 million in the volume of all transactions within 3 months.
Symbiosis Protocol Achievements
Several important achievements led us to the finest version of the Symbiosis Protocol up to this date.
Since the beginning of 2024, our technical improvements have impacted the speed of the bridge and swap transactions, making them 3 times faster, taking half of the txs around 30 seconds (!) to get from chain A to chain B.
In June 2024 we recorded the $2 Billion milestone of the cumulative swap volume, and just in 2 months Symbiosis Protocol secured the additional $500 million volume, getting to the $2,5B mark.
The 2 millionth swap has been made this July via the Symbiosis Protocol. That’s actually not the most fun fact about this metric - we managed to process one million swaps in 3 months (after reaching the 1 million milestone in April 2024).
Oh Symbiosis, the protocol you’re!
Integrations & Launches - Q3 2024
Our team was most probably injected with lots of caffeine, as we introduced numerous new and freshly baked blockchain networks to our WebApp and the Protocol.
The modular Layer 2 blockchain Fraxtal arrived to Symbiosis this July, now supported for cross-chain swaps in the WebApp;
As the Symbiosis DAO has decided the fate of the next integration, we successfully integrated and launched Gravity Chain, a network designed and developed by Galxe platform. With just around a month being live in Symbiosis WebApp, Gravity has already entered the Top 10 of the most active chains in the Protocol!
This summer Symbiosis became the official bridge for Puffer Finance, one of the largest Ethereum liquid restaking protocols and integrated Zetachain for cross-chain swaps, respectively.
Notable Campaigns at Symbiosis in Q3 2024
The campaigns of the past quarter have been active and lively, bringing more rewards and benefits for users. Let’s take a look at their quick sum up.
Arbitrum Incentives Campaign
For 3 consecutive months Symbiosis boosted Arbitrium One by providing ARB incentives for cross-chain explorers. Distributing up to 5 ARB tokens for one transaction to Arbitrum One, we distributed 26,755 $ARB tokens to almost 22 thousand unique addresses, recording over 31 thousand transactions.
Scroll Canvas & Badges
This Summer Scroll launched Canvas - a social platform where DeFi explorers can verify their participation in the blockchain and reputation by interacting with the Scroll dApps, receiving Badges - non-fungible and non-transferable tokens.
We collaborated with Scroll and presented a group of unique badges for cross- and on-chain activities, making our Badges one of the cheapest and easiest to earn and claim and taking 21% of all badges issued and claimed in the Canvas ecosystem!
All Scroll Badges from Symbiosis are now located in our Badges page, check them out here.
Rootstock World Tour
Taking a part in Rootstock's grand campaign, Symbiosis welcomed Web3 explorers to interact with Rootstock, an EVM-compatible smart contracts blockchain on Bitcoin.
We distributed $3,000 among the users who bridged and swapped to Rootstock, providing the network with the liquidity.
Ongoing Campaigns You May Be Interested In
Taiko Incentives
Distributing 40,000 TAIKO tokens back to the community, Symbiosis incentivizes the swaps and bridge transactions to Taiko Mainnet, granting users with up to 5 TAIKO per transaction, cutting the costs of the bridge and network fees while also adding up some sweet sum back.
You can get TAIKO tokens for Swaps right here.
ZETA Incentives - Fall Harvest
Symbiosis takes a part in the Zeta Blockchain’s Fall Harvest, distributing 21,000 ZETA tokens and incentivising users to explore Zeta Blockchain further and deeper.
All transactions are valid, make a cross-chain swap to Zetachain with a min amount of $100 and receive up to 2.3 ZETA tokens!
A Couple of Words for the Q4 2024
Such lively three months have passed - traditionally at Symbiosis. There are still several developments that we plan to launch in the upcoming months, some of them - even until 2025.
Q4 is the timeline for our TON Bridge V2 launch, as we get closer to bridging the gap between TON and 30+ blockchain networks. Expect the news soon!
Our next plans for the upcoming Q4 2024 and the next year is to continue the BTC ecosystem expansion at Symbiosis, adding more chains for support in the Symbiosis BTC Bridge, closer cooperation with Bitcoin L2 solutions, syBTC and restaking collaborations.
SIS and Deflation Framework, new integrations, upgrades to our Rewards programs, campaigns - buckle up for these upcoming three months.
Q4 is going to be momentous!
All About Symbiosis - Links & Resources
Meet Symbiosis closer, and get to know Symbiotes - the power of the protocol, our beloved community.
You can find all the Social and Community links in our only official Linktree.
Important Links:
Three adventurous months have passed since our last recap, and here’s where Symbiosis stands now - with the launched Any-BTC-Any Bridge, successful incentive campaigns and astonishing results of continuous growth.
Dynamic. This could be the best word to describe the third quarter at Symbiosis. And here’s why.
Events of the Quarter
Symbiosis BTC Bridge Launch
It’s a no-brainer - the BTC Bridge launch was definitely the centerpiece of the launch lineup at Symbiosis. The Symbiosis Bitcoin Bridge is fairly a huge step forward to the fullest possible activation of the native Bitcoin DeFi.
We developed and launched a solution for the cross-chain connection of Bitcoin that:
Enables low-cost bridge from and to Bitcoin;
Is faster than the majority of available solutions;
Supports small amounts for the native BTC cross-chain swaps;
Utilizes smart contracts to keep the bridge non-custodial;
Is still being decentralized.
Supporting two-way routes (EVM-BTC-EVM) and utilizing our synthesized version of BTC (syBTC), Symbiosis BTC Bridge is one of the key services that we managed to bring to life. It now allows all Bitcoin folks to seamlessly exchange their preferred tokens (including Stablecoins) to and from the native BTC.
You can access the Symbiosis BTC Bridge in our WebApp!
SISter Recap
Our ecosystem token - the SIS token - has definitely been in the spotlight this quarter, as we introduced and implemented several events.
It all started with the announcement of the Deflation Framework - a lineup of the events and activities to decrease the inflation effect on the SIS token.
The first event within the Deflation Framework was the August’s SIS Burn Event - Symbiosis removed 251,384 SIS tokens from the circulation right after the DAO had spoken on this matter.
Besides the continuous work on the Deflation Framework, we introduced and successfully implemented the Buyback & Bonus event for the SIS stakers (veSIS holders) where 239,491 SIS were bought and distributed to the veSIS holders on ZKsync Era.
One of the key SIS Rewards campaigns was the XP collaboration with Zetachain and our participation in the Zeta RFP Rewards program. Symbiosis Protocol was granted with the sum of 100K ZETA tokens that were later distributed among the veSIS holders.
Pleasant surprises for our beloved community - one of our focus streamlines for the Q4 as well.
Stats, Achievements, Milestones
Now - let’s talk numbers!
Comparing the similar periods of 2023 and 2024, Symbiosis faces an increase in the all important metrics of the protocol. The swap volume in Q3 ‘24 was 39% more than in the same quarter last year, while the numbers of addresses’ & swaps’ metrics experienced the 207% and 272% growth levels respectively.
The Most Used Blockchains in the Symbiosis Protocol - Q3 2024
In terms of the number of transactions, the L2 scalability networks took the most of the top placements, resulting in the Linea, Scroll, Arbitrum One, Optimism and Blast features in the Top 10;
The newcomer of this quarter - Gravity Chain - placed the 10th of the most active blockchains at Symbiosis (transaction-count-wise);
In the category of the most popular blockchains at Symbiosis (volume-wise), the Q3 Top 10 traditionally consists of Layer 2 solutions, now including TRON with over $21 million in the volume of all transactions within 3 months.
Symbiosis Protocol Achievements
Several important achievements led us to the finest version of the Symbiosis Protocol up to this date.
Since the beginning of 2024, our technical improvements have impacted the speed of the bridge and swap transactions, making them 3 times faster, taking half of the txs around 30 seconds (!) to get from chain A to chain B.
In June 2024 we recorded the $2 Billion milestone of the cumulative swap volume, and just in 2 months Symbiosis Protocol secured the additional $500 million volume, getting to the $2,5B mark.
The 2 millionth swap has been made this July via the Symbiosis Protocol. That’s actually not the most fun fact about this metric - we managed to process one million swaps in 3 months (after reaching the 1 million milestone in April 2024).
Oh Symbiosis, the protocol you’re!
Integrations & Launches - Q3 2024
Our team was most probably injected with lots of caffeine, as we introduced numerous new and freshly baked blockchain networks to our WebApp and the Protocol.
The modular Layer 2 blockchain Fraxtal arrived to Symbiosis this July, now supported for cross-chain swaps in the WebApp;
As the Symbiosis DAO has decided the fate of the next integration, we successfully integrated and launched Gravity Chain, a network designed and developed by Galxe platform. With just around a month being live in Symbiosis WebApp, Gravity has already entered the Top 10 of the most active chains in the Protocol!
This summer Symbiosis became the official bridge for Puffer Finance, one of the largest Ethereum liquid restaking protocols and integrated Zetachain for cross-chain swaps, respectively.
Notable Campaigns at Symbiosis in Q3 2024
The campaigns of the past quarter have been active and lively, bringing more rewards and benefits for users. Let’s take a look at their quick sum up.
Arbitrum Incentives Campaign
For 3 consecutive months Symbiosis boosted Arbitrium One by providing ARB incentives for cross-chain explorers. Distributing up to 5 ARB tokens for one transaction to Arbitrum One, we distributed 26,755 $ARB tokens to almost 22 thousand unique addresses, recording over 31 thousand transactions.
Scroll Canvas & Badges
This Summer Scroll launched Canvas - a social platform where DeFi explorers can verify their participation in the blockchain and reputation by interacting with the Scroll dApps, receiving Badges - non-fungible and non-transferable tokens.
We collaborated with Scroll and presented a group of unique badges for cross- and on-chain activities, making our Badges one of the cheapest and easiest to earn and claim and taking 21% of all badges issued and claimed in the Canvas ecosystem!
All Scroll Badges from Symbiosis are now located in our Badges page, check them out here.
Rootstock World Tour
Taking a part in Rootstock's grand campaign, Symbiosis welcomed Web3 explorers to interact with Rootstock, an EVM-compatible smart contracts blockchain on Bitcoin.
We distributed $3,000 among the users who bridged and swapped to Rootstock, providing the network with the liquidity.
Ongoing Campaigns You May Be Interested In
Taiko Incentives
Distributing 40,000 TAIKO tokens back to the community, Symbiosis incentivizes the swaps and bridge transactions to Taiko Mainnet, granting users with up to 5 TAIKO per transaction, cutting the costs of the bridge and network fees while also adding up some sweet sum back.
You can get TAIKO tokens for Swaps right here.
ZETA Incentives - Fall Harvest
Symbiosis takes a part in the Zeta Blockchain’s Fall Harvest, distributing 21,000 ZETA tokens and incentivising users to explore Zeta Blockchain further and deeper.
All transactions are valid, make a cross-chain swap to Zetachain with a min amount of $100 and receive up to 2.3 ZETA tokens!
A Couple of Words for the Q4 2024
Such lively three months have passed - traditionally at Symbiosis. There are still several developments that we plan to launch in the upcoming months, some of them - even until 2025.
Q4 is the timeline for our TON Bridge V2 launch, as we get closer to bridging the gap between TON and 30+ blockchain networks. Expect the news soon!
Our next plans for the upcoming Q4 2024 and the next year is to continue the BTC ecosystem expansion at Symbiosis, adding more chains for support in the Symbiosis BTC Bridge, closer cooperation with Bitcoin L2 solutions, syBTC and restaking collaborations.
SIS and Deflation Framework, new integrations, upgrades to our Rewards programs, campaigns - buckle up for these upcoming three months.
Q4 is going to be momentous!
All About Symbiosis - Links & Resources
Meet Symbiosis closer, and get to know Symbiotes - the power of the protocol, our beloved community.
You can find all the Social and Community links in our only official Linktree.
Important Links:
Symbiosis
Symbiosis is a cross-chain AMM DEX that pools together liquidity from different networks: L1s and L2s, EVM and non-EVM.
Bridge
Symbiosis
Symbiosis is a cross-chain AMM DEX that pools together liquidity from different networks: L1s and L2s, EVM and non-EVM.
Bridge
Symbiosis
Symbiosis is a cross-chain AMM DEX that pools together liquidity from different networks: L1s and L2s, EVM and non-EVM.
Bridge