Symbiosis in Q2 2024 - a Full Recap

These three months came and went so fast, yet they brought so many great things to Symbiosis and its ecosystem!

We reached the mark of over 30 blockchain networks supported, invited Symbiotes to join thrilling campaigns and enhanced our protocol to make it better for everyday DeFi purposes.

Presenting a complete recap with all important events that occurred during these three months. Everything you need to know about the Symbiosis’ timeline of launches, achievements and releases - right below 👇

Please note that no parts of the text in this blog post should be perceived as financial advice.

Expanded Ecosystem - Meet New Networks at Symbiosis

Some would say Symbiosis has more tentacles, and they wouldn’t be wrong - we became quite bigger, compared to the first quarter of 2024. Overall, Symbiosis now supports 34 blockchain networks for seamless swap and bridge operations. 

That’s right - full cross-chain mode is live and in stereo! Let’s take a look at newcomers of this quarter.

Core DAO Support

This spring we’ve been focusing on a lot of streams in terms of diversifying the networks’ availability, and one of them was Bitcoin DeFi. Therefore, the integration of Core DAO’s blockchain network - Core Chain - took place in Q2, and we welcomed such assets as coreBTC, ETH and Stablecoins to our Symbiosis Protocol.

Core DAO is available at Symbiosis WebApp - right here.

Sei v2 EVM Bridge Launch

Sei Network celebrated a big launch in May - the second version of the blockchain has been released, and it came with a support of the Parallelized EVM. Symbiosis promptly integrated the network to the protocol and now connects Sei EVM and its funds with over 30 blockchain networks.

Bridging ETH to Sei is fun, but have you tried something more exciting? Explore available pairs for swaps and bridges to Sei in the Symbiosis WebApp.

Cronos EVM Swaps Integration

A blockchain network that joined our Symbiosis Protocol comes as a part of cronos.org blockchain ecosystem that has partnered with crypto.com and has a vast ecosystem of 500+ supported applications.

Good news that Cronos EVM decided to go further cross-chain and was integrated into Symbiosis WebApp. Available for bridges and swaps now!

Launching Taiko Network 

Last but not least - Taiko. The based, permissionless rollup network took quite a lot of attention from the crypto community around the globe. 

It was an exciting integration as Symbiosis enabled the support of Taiko within the WebApp so that users can now bridge ETH and USDC to Taiko and obtain TAIKO token as well.

There have been some of the other networks that grab the spotlight of our community. More on them - right below 👀

New Hot Features at Symbiosis in Q2 ‘24

Our ultimate goal is make Symbiosis the best cross-chain protocol in the crypto world, and there are several steps we take to get closer to this big achievement. In Q2 2024 we continued to enhance our product and roll out new bridge & swap features!

TON Bridge v1 Launch 

One of the hottest events that occurred in the Symbiosis Ecosystem was the launch of the first version of the TON Bridge. 

Toncoin and the TON Blockchain became available this June within the Symbiosis WebApp, and Binance News supported our integration as well. This marks as the first step to make TON full cross-chain available across EVM and non-EVM networks.

As we continue to shape a better DeFi, we continue to work on the second version of the TON Bridge that will include the support of more tokens for bridge and swaps to TON!

Access TON Bridge at Symbiosis - here.

We prepared a full video guide on how to swap to TON and get Toncoin within one transaction. Make sure to watch it on our YouTube channel. 

Native EVM-BTC-EVM Bridge - in Testnet 

Remember that Symbiosis supports swaps to BTC on Bitcoin Blockchain? We’re one step away from making swaps and bridges from EVM Network to Bitcoin and back available globally!

This quarter we launched the access to Bitcoin Native Bridge on Symbiosis Protocol in Testnet. While other cross-chain and bridge protocols either do not support Bitcoin for swaps or limit it to the forked networks of Bitcoin, Symbiosis steps in to enable the full connection of BTC across all supported blockchain networks in the protocol.

Seamless swaps, within one transaction - Native BTC Bridge is coming very soon to Mainnet at Symbiosis! Follow our Telegram Announcements channel to get to know about this upcoming release first.

Updated Brand New Swap Page

Symbiosis WebApp has been a little bit refurbished and got a new look! We introduced a more informative layout and added important details to cover you with everything you need to know about your exchange via Symbiosis.

Now you can review the estimated time of your swap, the equivalent of the transaction in USD, get more information on the routes and add tokens to your favorites - all at app.symbiosis.finance/swap!  

Symbiosis Major Achievements in Q2

Now - to one of the most favorite parts of our recaps, according to the Symbiotes - the numbers! The second quarter has been quite fruitful when it comes to the metrics and milestones

General Statistics and Growth 

Overall, Symbiosis Protocol secured the 88% growth in the amount of the bridged and swapped funds. Moreover, the number of connected addresses has also greatly increased - we recorded a 67% increase, comparing the statistics of Q2 to Q1 2024. 

The whole year of 2024 Symbiosis showed nothing but consistent growth. +517% in the number of cross-chain swaps performed in May 2024, in comparison to January this year, +595% increase of the volume - so many achievements that Symbiosis secured throughout the first half of 2024. Get to know all of them in the latest Monthly Growth Report.

Let’s now move to the Symbiosis Protocol metrics milestones that we reached in Q2 ‘24.

$2 Billion Volume at Symbiosis

Symbiosis - the Protocol that you are! During the second quarter we celebrated the achievements of several milestones that now distinguish Symbiosis even more from other cross-chain platforms.

One of the achievements Symbiosis obtained was the mark of the $2 billion cumulative volume of exchanged funds via the protocol. This milestone further displays the level of trust that users have for Symbiosis.

1 Million Swaps via Symbiosis Protocol

Another threshold we got to this quarter was the number of exchanges performed by users within Symbiosis. Overall, the protocol processed over one million swaps among all supported networks!

This spring we also reached the threshold of $10 Million in the Total Value Locked in the protocol, marking it almost the ATH mark!

Numerous achievements, all kudos and respect to our community that helps us shape the best available version of the protocol in the market. We’ll reach more in the upcoming months Symbiotes ❤️

Campaigns & Incentives with Symbiosis

It’s been a fun time at Symbiosis Ecosystem this quarter! We hosted, held and participated in several cross-chain campaigns and secured rewards for the most active users of Symbiosis. Let’s take a quick look at them: 

• Two Campaigns with Symbiosis and Rootstock motivated users to engage more with Rootstock ecosystem and get the funds to the network seamlessly via Symbiosis. The winners shared the $15,000 prize pool; 
  
  

• There also have been two incentive tracks for most active Symbiosis users on Mantle and Arbitrum networks. While swapping and bridging tokens to Mantle or Arbitrum, users would and are getting rewards in MNT and ARB tokens, respectively. Make sure to check the ongoing Arbitrum Campaign and receive ARB tokens;
  
  

• While the zkLink Aggregation Parade campaign started in Q1, it’s been going on for the whole second quarter, and the zkLink team introduced additional tracks to secure extra points for the upcoming token activities. Make sure to check your place in the Leadership board and secure more chances while swapping via Symbiosis. 
  
  

• Scroll Marks Sessions are in full mode, and Symbiosis is one of the bridges that is supported in this campaign. Swap via Symbiosis to bridge funds to Scroll Mainnet and obtain Scroll Marks - a version of incentivise points. 
  
  

Q3 seems to be promising - stay tuned on the new campaigns and their launches, winners’ announcements in the Symbiosis Socials.

More on SIS and veSIS Tokens

Our SIS-ter has received some new integrations and got an upgrade for its vote escrow version.

• In Q2 DWF Labs announced the listing of the SIS token in the OTC trading platform - Liquid Markets. The SIS/USDT pair is available now! 
  
  

• The vote escrow version of the Symbiosis governance token - veSIS - has been launched on Linea. Symbiotes that lock and stake SIS tokens on Linea network can now receive benefits and token rewards.

Entering Q3 - What To Expect?

We’re wrapping up an amazing Q2 and fly right into the third quarter that will bring lots of features to the table. Bitcoin Native Bridge on Mainnet, new blockchain networks, some interesting things as well 👀

Thanks for sticking with us and putting your trust into the Symbiosis Protocol, it’s priceless 💗

Follow us on X/Twitter and Telegram, and don’t forget to check out the Discord Community where the hottest discussions are happening!

Important links:

• Symbiosis WebApp

• Symbiosis Docs

• SIS and veSIS tokens