Symbiosis

What is Symbiosis Exchange?

Symbiosis is a decentralized exchange that allows you to swap and stake with your crypto assets as well as place them into liquidity pools. Meaning you can you earn passive income off of your crypto when you put it on hold through this application. Since the assets are liquid, when delegated to a liquidity pool, you can withdrawal your assets from said pool if you need to. Best part is you still get rewards depending on the duration of hold. Even better, as stated before, this exchange is is decentralized, meaning you are in control of what you have and what you want to have happen with your coins. This in terms of staking, wrapping, and swapping.

This done by using a P2P network of relayers. Making the exchange decentralized. No single person controls the network in comparison to other exchanges.

Symbiosis is working toward revolutionizing the De-Fi community and trying to help the Web 3.0 ecosystem. This protocol is still being tested and is in Beta.

Despite being in Beta, these are pretty cool features offered, and the fees are nominally low too for swapping. The protocol is working towards adding more backed tokens to the exchange to allow for even more swaps to take place. Very promising from the sound of it.

Symbiosis uses P2P, Peer to peer relayers with other P2P relayers. Making a decentralized network. Relayers don’t hold funds but rather listen for transactions in order to reach a point of agreement with other relayers. A protocol that works with you not against you.

In general swapping with Web 3.0 tech and exchanges can be confusing and expensive because of the Ethereum gas fees.

The SIS protocol uses the most liquid stable coins for swaps, no need for unnecessary swaps and wrapping of tokens to get desired coin, no clone of coin as seen from other exchanges. Does by using a multi chain AMM DEX, Automated Market Mechanism. 

Through the use of Ethereum Virtual Machines and non Ethereum Virtual Machine Block chain networks. (EVM.)

In other words, Symbiosis Exchange eliminates many additional steps to accomplish token swaps, and at a less expensive price too. Does this by comparing the price in USD for ETH to calculate the gas fees. They pay in the native token, of the coin you are swapping of, no extra fees.

Example of swap :

STABLE COIN like Tether — ———→ BNB token

In just one click. Different blockchains are involved but the work is done on Symbyosis’s end.

You can swap for ETH and other ERC-20 tokens. Not just like the above example.

Backed by the ecosystems funds of leading crypto protocols such as

Polygon, Algorand, Avalanche, BTC

Solana will be added soon

Wallet, Exchanges and Venture Funds Support

• Blockchain.com, Bixin, Binance Labs, Kinetic, Amber, Dragonfly Capital, Spartan, and 3Commas.

Example of swap :

STABLE COIN like Tether — ———→ BNB token

In just one click. Different blockchains are involved but the work is done on Symbyosis’s end.

You can swap for ETH and other ERC-20 tokens. Not just like the above example.

Compares in USD for ETH gas fees. They pay in the native token, of the coin you are swapping of, no extra fees.

Can use a MetaMask for investing, and to receive rewards. As seen below

SIS tokens are used and built in on this exchange and can be staked for rewards and swapped for other tokens as well.

In order for some of the swaps to be completed SIS routes the tokens through Uniswap or PancakeSwap to get the best price for user, the user doesn’t see this and only see’s the token they want to swap for another, pretty neat.

Meaning the prices are protected by arbitrage.

This protocol also uses atomic swaps making transactions go quicker without the wait.

Key Points of SIS DEX

• Decentralized liquidity pools

• Decentralized exchange, aka DeFi exchange, or non-custodial exchange, step away from centralization and toward derealization, meaning you and only you owning and managing your assets.

• Changes how blockchains interact with each other

• Swaps for more tokens opening up; cross chain swaps

• You can swap for ERC-20 tokens such as Chainlink

• SIS tokens built into the exchange; way to earn rewards through staking.

• Multichain Swaps with AMM DEX technology 

• Arguably best way to swap your ETH for BTC

• Despite this being a decentralized exchange some of these tokens and blockchains in of themselves are centralized, like Ethereum. keep that in mind, DeFi moves away this though.

• You have the option of Signing in with a MetaMask account or linking other backed wallets compatible with SIS

• Swaps protected by Arbitrage

• Still in Beta

• This isn't a paid promotion

Let me know if I missed anything or if there are incorrections. This is my first article I plan on writing about other topics too outside of SIS.