This article is not going to: -

• EXPOUND the biological definition of Symbiosis and expand into a lengthy master's thesis
• make use of flowery, juicy metaphors to PERPLEXINGLY explain what Symbiosis.Finance actually does

NO!  Be straightforward!!

What's Symbiosis about?

In short, Symbiosis Finance is a decentralised crypto exchange protocol where you can exchange coins across different chains instantly (across Ethereum, Polygon, Solana, or any chain you like).

For newbies: There are crypto coins are located on different chains.  Some blockchains are public, some are private, some hybrid and some consortium.  What is means is that it is difficult to swap one to another when you have invested in type A and type B and then you wished to convert one of those coins to another / something else.

Bitcoin (BTC) and Ethereum (ETH) are two of the most popular cryptocurrencies and we'll refer to them in the following example where you don't need a bridge.

Let's take a Metamask wallet as an example (since Metamask is a popular choice for Ethereum).  You cannot store Bitcoins on Metamask wallets because Metamask is built on the Ethereum blockchain.  So, if you transferred some BTC in your Metamask wallet, you won't see them!  Don't worry, the BTC is still at that address!  In order to see BTC on Metamask, it would be better if you had used Wrapped Bitcoin (wBTC) in the first instance.  wBTC is an ERC-20 token on the Ethereum blockchain which is BTC 1:1 wBTC.  So, you can see wBTC but not BTC in your Metamask wallet.

Platforms always take a cut when you wrap and unwrap Bitcoins (0.25% approx.), let alone other cryptocurrencies which others want to convert.

There might be a time when some facepalm-worthy coin which you have invested will collapse in future.  Or you see one coin is rising quickly that you wanted to switch lanes.

When you want to swap coins across different networks, Ethereum and Solana for example.  You always need a bridge, which is not that easy as the example above.  

Symbiosis cuts your waiting time: No middlemen

For other traditional platforms where you exchange your coins, those platforms take a percentage from you and your precious coin goes through a long series of blockchains in order to be converted. That translates to the long waiting time required for those platforms.  And these bridges can be vulnerable and exploited by hackers stealing your money.

My impression for Symbiosis Finance is that most waiting time had been cut as it is really decentralized and the coin swap is done algorithmically. You don't need to get your coins across a huge bunch of middlemen. That means the coin conversion is instant! For converting some distantly related coins, this is great news. Time is money, right?

That being said, I take note that they are still in the beta stage and the conversion fee could be a little bit lower. BUT! I see potential that they will develop into a full-fledged platform soon, as multi-chain solutions are getting more attention than they've ever had.

Phone app

The web app interface is pretty handsome. I heard that they are making a phone app for the whole thing.

Common conversions

The platform can swap AMPL to USDT, a well sought-after thing to do, or vice versa. There are also some other coins, such as BNB, Matic, Avax, HT, OKT etc. 

Their own crypto

They have their own $SIS coins, which you might be interested to have a look.

L/P

On their website, they also have a Liquidity Pool (L/P) where you can stake your coins and earn.

(Coming soon:) Advanced farming

Heard that the Symbiosis Finance team is also working on advanced farming. Keep an eye on the website!

I hope that had briefly introduced what Symbiosis Finance is all about, whether you're a newbie or expert.

*Turns 180 degrees*

Graphics

Let's talk about the graphic interface now, to keep you excited.

The whole website was in a peculiarly memorable art style which resembles a retro green phosphor CRT computer monitor. There used to be one at my home but my family decided to throw the CRT monitor away. The GUI design is quite nostalgic to me, and I believe that it might have also echoed with you as retro style is making a comeback.

I think their logo is cute and eye-grabbing. Dunno what those tentacles symbolize, but I guess it might be a literal representation of the multi-chains?

There is also ASCII art of a universe!

Job opportunity

They are hiring! I saw these fully remote positions when I reviewed their website.

VERDICT

These guys are working on some nice stuff, easy to use and nerdily soothing for the eyes.

The demand for managing multi-chain liquidity is growing and it's even said to be 'the future of crypto'. I see potential for them to ride on and prosper.  And I hope more people can adopt decentralised multichain swap.

You may check out Symbiosis Finance here.

Let me know what you think about it in the comments!

Twitter: https://twitter.com/symbiosis_fi
Telegram: https://t.me/symbiosis_finance
GitHub: https://github.com/symbiosis-finance
Discord: https://discord.com/invite/symbiosis
Blog: https://blog.symbiosis.finance/

Disclaimer
This is not a financial advice. Do your own in-depth personal research. I am not liable for your loss in brain cells, hair, crypto etc.