Back in March I participated in a writing competition, and I wrote "Living together in Symbiosis - Finance, DeFi, Crypto, Symbiotes and Swap". As every review I've done, I was brutally honest about what I liked, what I didn't, and about the things that didn't worked as they where supposed to work.
What is Symbiosis Finance?
The word "symbiosis" comes from Greek, meaning "living together", and makes people think about harmony. Symbiosis Finance is a multi-chain AMM DEX and liquidity protocol that made liquidity fragmentation across different blockchain networks. The initial impression is that Symbiosis Finance makes the crypto exchange and DeFi to work in harmony.
Symbiosis Finance lives on the blockchain as a multi-chain liquidity enabler! The protocol can make cross-chain crypto swaps instantly and can manage liquidity on any supported chain, which was to good to be true. Symbiosis Finance works on four blockchains - BNB Chain, Ethereum, Polygon and Avalanche. If you trust the description, users can buy/sell any asset on any chain! If you are not a fan of reading .... let me give some spoilers! IT DOESN'T WORK WITH ANY ASSET ON ANY CHAIN!
tl;dr - Symbiosis can move liquidity across BNB, and exchange it across any EVM and non-EVM networks. Basically users can "Swap Tokens, Any to Any". It failed to swap tDOGE to BNB or wrapped BNB but got stuck at checking tDOGE allocation. Tried many other tokens, such as CAKE, BTCB or even stuff on other chains but no allocation found.
It failed to swap tBTC for CAKE even when I accepted a long route (tBTC - wBNB - BUSD - CAKE) with a price impact at 23.93%. It failed when I tried from tBTC to BTCB, and waited for over 2 hours for a completion that never took place.
Why the blast from the past? Because Symbiosis organized a meme competition, an unusual one that was attractive from the beginning . The participants had to make memes about the bad experiences they had with Symbiosis. Wow... that was so cool because my experience was full of errors, glitches and lack of successful swaps. You can read more about how I tried four chains on Living together in Symbiosis, and see how error after error lead to no transaction completed.
Let's not forget I aggreged to swap and receive 23.9% less on a transaction and I couldn't because of an error! Have you ever played the early FIFA games full of glitches? Symbiosis will win 3-0 against those games!
Symbiosis has fast transactions, I was unlucky to wait more then 2 hours for a transaction to "be minted"! What does that mean? I am not super-techy and geeky, I am just a regular guy that pays gas for things to happen!
We are close to the end, as I covered "swap any coin" on Polygon! None of my shitcoins could be found for a swap. I may be forced to carry the bags of shitcoins until the dawn of blockchain.
Meme roast was on the menu, and I had to say something about the color pallet! I have only one answer if you ask me about it, and "panful" is still me being nice. It feels like exploring the Chernobyl ruins, covered in slime and neon lights!
The winning memes where poor as well, those one made in meme-editor with the watermarks still on! Probably the bear market made the true meme kings skip the competition.
Until the market will improve, keep positive and keep being cool! You may also check Symbiosis on Publish0x, as they may improved a bit since I had a look. Only few days ago it was integrated in the SafePal wallet!
Symbiosis will be integrated in the DApp browser to allow users to choose us and swap crypto faster and easier than ever. When using SafePal hardware wallet you can be sure your assets are well protected, there are additional security measures such as CCEAL5+ Secure Element, Air-gapped Signing Mechanism, True Random Number Generator, Self-destruct Mechanism, Security passwords and phrases, Privacy mode and much more.
DeFi bounty at CakeDeFi with $30 DFI for new users