LI.FI Integrates Symbiosis - Everything You Need To Know

Context

We kicked off April with amazing news of the Symbiosis Protocol integration into LI.FI - a leading multi-chain liquidity aggregation platform! The main purposes of the cooperation were to enable seamless asset swaps, liquidity movement, and data sharing across all supported blockchain networks. From now on, Symbiosis’ transfer and exchange routes will be available for Dapps and solutions that utilize LI.FI development tools. 

This integration opens more routes for cross-chain swap transactions within the LI.FI development tools and enables the support of new blockchain networks including EVM and non-EVM ones! 

What is LI.FI?

LI.FI is a multi-chain protocol that optimizes liquidity management and interoperability across different blockchain ecosystems by aggregating data across supported decentralized exchanges and bridges. It serves as an important part of the swap processes in the decentralized applications (Dapps) and eliminates the problem of aggregating liquidity from numerous bridge and swap protocols. 

Working with over 150 partners and providing its development tools to such enterprises as MetaMask, Jumper Exchange and Summer.fi, LI.FI aggregates data, transfer and swap routes across selected bridges and decentralized exchanges - including now Symbiosis.

Integration Impact 

The integration of Symbiosis Protocol provides the LI.FI solution with a broader scope of supported bridges and aggregates additional chains and routes for developers. Aiming to solve ecosystem and developer problems that include asset limitation within existing bridges, friction in user onboarding to the ecosystem, LI.FI steps further and expands the list of supported liquidity and data sources.

By aggregating Symbiosis API, LI.FI will enable these additional following features for the swap transactions and operations:

• More competitive swap and exchange fees since the number of required steps to process transaction will be decreased;

  
  

• Activation of new emerging Layer 2 solutions for cross-chain swaps including Mode, Blast, etc. More blockchain networks are coming to serve the needs of the crypto enterprises and enthusiasts that utilize LI.FI;

  
  

• Cross-chain swaps of native assets via “any-to-any” routes.

  
  

This expansion aims to eliminate a broad scope of challenges by utilizing swaps and bridge transactions via Symbiosis. Hence Dapps, multi-chain wallets and DeFi platforms can offer more of the effortless cross-chain experience to their users. 

Cooperation Framework

With a combination of on-chain and off-chain parts of the Symbiosis Protocols, the swaps and asset transfer are done in a sophisticated and safe way. LI.FI integrates the chains that are originally supported by both Symbiosis Protocol and LI.FI including some of the rapidly evolving Layer 1 and Layer 2 networks as well as L2 solutions for Bitcoin.

The process involves non-custodial smart contracts and includes several steps. 

• First, the tokens from the initial chain are swapped via Symbiosis contracts to either stablecoins or wrapped Ethereum as transit tokens. 

  
  

• Then, via Smart Contracts they’re pushed to the pools and then released to the user’s wallets. The whole magic that’s going behind the scenes at Symbiosis is described in the Docs right here. 

  
  

All these steps are wrapped into LI.FI developer tools and are automated to ensure the smooth cross-chain transactions in a most meticulous manner. Mutual magic. 

How Exactly We Facilitate Mass Adoption Further?

“The less obstacles for developers and end users - the faster the onboarding is.” This is the mutual motto for the collaboration between LI.FI and Symbiosis! 

By enlarging the ecosystem of supported assets and desired blockchain networks, Li.Fi can implement more liquidity sources and provide users with the best and most affordable rates without using multiple DEXs. Symbiosis supports and contributes to the mission of Li.Fi to enable full potential of multi-chain swaps and operations with the minimal developer overhead. 

With the support of 25+ blockchain networks at Symbiosis, the need of having simple yet compound and fast swaps is happily being met. And that’s another step to the better DeFI that the crypto world wants and deserves.

Symbiosis is excited and honored to cooperate with LI.FI and thanks the team for the trust. To new heights and milestones!

Let’s Stay Connected

We’re Symbiosis - a multi-chain AMM DEX protocol that offers easy swaps and bridges via 25+ supported EVM and non-EVM blockchains. By pooling the liquidity from different Layer 1 and Layer 2 scaling protocols, our protocol allows secure and fast “any-to-any” native asset swaps and liquidity contributions across various networks via one complete transaction. 

Visit our WebApp and find the best rate to bridge or swap your tokens. A couple of clicks and the assets are transferred from and to any desired chain that is supported. 

There’s more to arrive in the near future - let’s be friends and stay in touch:

• Our X/Twitter

  
  

• Discord Community

  
  

• Telegram Chat

  
  

• Documentation