You've probably heard of PancakeSwap or Uniswap. Both are decentralized exchanges, that is, exchanges that run within the blockchain itself, without the centralization of large exchanges such as Binance and Coinbase. In addition, these exchanges have their own specific operating network: PancakeSwap works on the BNB Chain (old Binance Smart Chain), while Uniswap runs on the Ethereum network.
Exactly because they work on a specific network, the aforementioned exchanges end up being relatively limited. In this way, Symbiosis Finance seeks to solve this problem by working as a multi-chain aggregator where it is possible to trade any token on any blockchain, all in the same place.
In this post we bring three important points that deserve to be highlighted about this new and promising exchange. Check it out below:
It is very common for cryptocurrency users to need to do some juggling to exchange tokens from one blockchain for tokens from other blockchains. This should not be a problem for symbiosis users, as it allows the integration of the most well-known blockchains on the market (BNB Chain, Ethereum, Polygon and Avalanche), making it possible to exchange numerous tokens, from several blockchains, in one place.
- Own custody
At symbiosis, your funds are in your exclusive custody, without any third party having access to them. Not even developers have access to user funds.
Symbiosis is fully decentralized, which prevents users from suffering obstacles related to controls external to the platform.
Anyway, this was a very short article but it was intended to bring to your attention this project that could have an incredible future. However, it is always good to remember that this project is still in its initial phase and that past successes of similar platforms are no guarantee that this one will also be successful.