The DeFi industry is rapidly expanding. New crypto assets regularly appear on the market as many companies, even those that are not related to Fintech or IT, are creating their own networks and tokens to find a new market and grow. Such an abundance of networks and the lack of proper connections between them pose challenges in transferring liquidity and data. The high gas costs and long execution times worsen the situation, making cross-chain transfers costly and complicated.
The Kinetex team has been heavily involved in the blockchain industry for several years, working on cross-chain solutions that can increase network interoperability and make blockchain technologies more accessible to users with different levels of experience with crypto technologies. Their hard work has resulted in the creation of Kinetex, which serves as a gateway to multi-chain liquidity.
Thanks to the first mode of Kinetex dApp, Liquidity Aggregation, transferring crypto assets across blockchains has become more effortless and efficient than ever before. This mode combines liquidity from dozens of protocols, allowing users to access it effortlessly in one place.
The second mode, Falsh Trade, is still in development. It is a new generation of the Kinetex dApp, which will use zero-knowledge proofs to address security concerns and enable users to make direct swaps with market makers. Both modes will work Universal Gasless, an innovative gas solution that simplifies gas payments by eliminating the need for storing multiple native coins and thus giving users a hassle-free DeFi experience.
Together with Symbiosis, Kinetex Network aspires to make the DeFi sector more user-friendly and interconnected by ensuring that users can swap their crypto assets effortlessly and securely across many blockchains.
Symbiosis is a cross-chain liquidity aggregation protocol that allows for exchanging virtually any token across various networks, including EVM-compatible and incompatible ones. The Symbiosis protocol simplifies the time-consuming process of finding a suitable cross-chain bridge by connecting numerous networks in one place, making cross-chain swaps more accessible to users. Furthermore, Symbiosis pays a lot of attention to the security of its products and has already been audited by SlowMist, Omniscia, and Zokyo. The commitment to ensuring protocol security aligns with Kinetex’s dedication to improving the security of products and services provided in DeFi.
The team is thrilled to inform you that Symbiosis has been recently added to the Kinetex Aggregation mode. Symbiosis provides some of the best rates and will assist in supplying liquidity for hundreds of tokens, thus opening up new opportunities for Kinetex users.