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Confused by terms like ERC20 and TRC20? For anyone trying to get into crypto, the world of transferring across multiple chains can seem daunting. From ensuring the right withdrawal address is included to using the correct withdrawal network, it can be a nerve-wracking process for users as they double-check their entries to avoid the dreaded mistake of dumping their tokens into an unretrievable abyss. Symbiosis Finance seeks to solve this dilemma by helping crypto enthusiasts overcome the complexities of cross-chain transfers and cross-chain bridges with its SIS tokens.
Symbiosis Finance intends to become a bridge to every crypto ecosystem by providing liquidity to every major blockchain, thus becoming a unified transport layer for cross-chain communication. Instead of having a typical organizational structure, they’ve adopted the now-popular decentralized autonomous organization (DAO) framework. To help achieve this vision, users are able to govern the Symbiosis DAO using the SIS utility token. Intrigued by how Symbiosis Finance aims to shape the future of crypto liquidity and swapping? This article covers all you need to know about Symbiosis Finance and SIS tokens.
Symbiosis Finance is a decentralized multi-chain liquidity protocol that aggregates exchange liquidity across all Ethereum virtual machine (EVM) and non-EVM compatible blockchains. It allows users to swap tokens between all the chains, while remaining the sole owners of the funds and maintaining low slippage.
With crypto moonshots popping up frequently, the last thing you’ll want to worry about as a momentum trader is liquidity. Thankfully, Symbiosis Finance simplifies the time-consuming process of finding a suitable cross-chain bridge so you can get the tokens you need. With a single click, crypto enthusiasts can get token swaps done — regardless of the network they’re on. The goal of Symbiosis Finance’s small Russian team — equipped as they are with blockchain and DeFi experience — is to make their platform the sole solution for any-to-any token swaps, so that all crypto enthusiasts can enjoy high liquidity with low slippage. All of this is done without seeking another automated market maker (AMM) or bridge. Much like today’s AMMs, Symbiosis focuses on lowering the barrier to entry with its minimalist user experience and smart routing, so that users get the best price possible. This makes it easy for any user to log in and immediately swap tokens across chains.