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Across the Boba L2s, With Symbiosis 

December 21, 2022
by Boba Blendor

 

We’re excited about the Symbiosis protocol’s newest addition to their Symbiosis V2: the L2 cross-chain bridge!

What does this mean? Thanks to Symbiosis’ efforts, users of BOBA L2 instances can bridge tokens between them directly, starting today!Want to learn more on how this works? Then let’s dive into how all this works!

 

What is Symbiosis?

For all of those that don’t yet know Symbiosis: they are a multi-chain liquidity protocol, where users can swap any-to-any token and transfer liquidity with a single click. They can do so regardless of the network, as both EVM and non-EVM networks are supported.

Symbiosis aims at solving a twofold problem: liquidity fragmentation across different blockchain networks, and poor user experience while dealing with the Web3 economy. With their ease of use, they provide peace of mind for swap users.

$SIS + Boba L2 = ✨

This cross-chain bridge is being launched as part of Symbiosis v2, which is single-stake and more capital efficient than the previous iteration. Symbiosis v2 is being built on top of the Boba BNB L2, which serves Symbiosis as their serving (S-chain) network for this iteration.

The team explained that they went with Boba BNB L2 due to multiple reasons, one of them being that the “BNB L2 superbly meets our requirements for being cheap and secure”. They also decided on using existing L2 solutions to keep their focus on the core product, which is cross-chain interoperability.

With the v2 cross-chain logic existing mainly on the Boba BNB L2 chain, this makes Symbiosis (from a security standpoint) pretty flexible to add a variety of blockchain networks based on the users/partners demand. When it comes to transferring of assets itself, the L2 cross-chain bridge is able to support swapping in any direction between the following chains: Boba BNB L2, Boba AVAX L2, Boba ETH L2.

What does this mean for the users of Boba L2s? With this amazing collaboration, users will be able to convert various tokens on Boba L2s to any other crypto currency available on Symbiosis. Meaning, to any other crypto currency at all, with just one click. You just found more ways to enjoy your Boba.

How does this work?

TL;DR: Users are able to transfer tokens from one Boba L2 instance to another directly, without going through L1s.

If we take a closer look, we will see that all the cross-chain transactions go through one chain: in the case of Symbiosis v2, this is the S-Chain, held on Boba BNB L2. The liquidity is being kept on one chain (Boba BNB L2), where an unlimited number of LPs can be created for cross-chain swaps.

These pools are single-side pools, meaning that you create a single pool for e.g. ETH, which will act as the pool for all ETH interactions instead of creating multiple pools for each combination (for example AVAX <> ETH, Polygon <> ETH etc.)

 

You can also take a look at an example in the graphic below:

When talking about pools, we are glad to let the users know that now Symbiosis supports all Boba L2 chains and has LPs for all of them. You can swap any token from any supported chains to BOBA Avax, Boba BNB, Boba Ethereum and back.

Where can I learn more?

To learn more about the Symbiosis v2, we suggest to read more in their announcement blog or hop onto their official website.

You can also find them on the following links: Twitter | Telegram | Discord | Instagram | Linkedin

As for Boba, you can stay up to date with the latest Boba Network news on our Twitter.

Across the Boba L2s, With Symbiosis 

December 21, 2022
by Boba Blendor

 

We’re excited about the Symbiosis protocol’s newest addition to their Symbiosis V2: the L2 cross-chain bridge!

What does this mean? Thanks to Symbiosis’ efforts, users of BOBA L2 instances can bridge tokens between them directly, starting today!Want to learn more on how this works? Then let’s dive into how all this works!

 

What is Symbiosis?

For all of those that don’t yet know Symbiosis: they are a multi-chain liquidity protocol, where users can swap any-to-any token and transfer liquidity with a single click. They can do so regardless of the network, as both EVM and non-EVM networks are supported.

Symbiosis aims at solving a twofold problem: liquidity fragmentation across different blockchain networks, and poor user experience while dealing with the Web3 economy. With their ease of use, they provide peace of mind for swap users.

$SIS + Boba L2 = ✨

This cross-chain bridge is being launched as part of Symbiosis v2, which is single-stake and more capital efficient than the previous iteration. Symbiosis v2 is being built on top of the Boba BNB L2, which serves Symbiosis as their serving (S-chain) network for this iteration.

The team explained that they went with Boba BNB L2 due to multiple reasons, one of them being that the “BNB L2 superbly meets our requirements for being cheap and secure”. They also decided on using existing L2 solutions to keep their focus on the core product, which is cross-chain interoperability.

With the v2 cross-chain logic existing mainly on the Boba BNB L2 chain, this makes Symbiosis (from a security standpoint) pretty flexible to add a variety of blockchain networks based on the users/partners demand. When it comes to transferring of assets itself, the L2 cross-chain bridge is able to support swapping in any direction between the following chains: Boba BNB L2, Boba AVAX L2, Boba ETH L2.

What does this mean for the users of Boba L2s? With this amazing collaboration, users will be able to convert various tokens on Boba L2s to any other crypto currency available on Symbiosis. Meaning, to any other crypto currency at all, with just one click. You just found more ways to enjoy your Boba.

How does this work?

TL;DR: Users are able to transfer tokens from one Boba L2 instance to another directly, without going through L1s.

If we take a closer look, we will see that all the cross-chain transactions go through one chain: in the case of Symbiosis v2, this is the S-Chain, held on Boba BNB L2. The liquidity is being kept on one chain (Boba BNB L2), where an unlimited number of LPs can be created for cross-chain swaps.

These pools are single-side pools, meaning that you create a single pool for e.g. ETH, which will act as the pool for all ETH interactions instead of creating multiple pools for each combination (for example AVAX <> ETH, Polygon <> ETH etc.)

 

You can also take a look at an example in the graphic below:

When talking about pools, we are glad to let the users know that now Symbiosis supports all Boba L2 chains and has LPs for all of them. You can swap any token from any supported chains to BOBA Avax, Boba BNB, Boba Ethereum and back.

Where can I learn more?

To learn more about the Symbiosis v2, we suggest to read more in their announcement blog or hop onto their official website.

You can also find them on the following links: Twitter | Telegram | Discord | Instagram | Linkedin

As for Boba, you can stay up to date with the latest Boba Network news on our Twitter.

Smaller Changes

  • We’ve added detailed explanations to the Boba API for community members to be able to better contribute, so be sure to check that out.
  • Our community members were experiencing a bug with querying the status of the DTL (Data Transport Layer). When we fixed it, we added a new API endpoint to reflect that change, so our awesome collaborators would see the fix as well.
  • The Faucet no longer only issues out ETH on the testnet. As of this release, developers can get BOBA tokens as well as ETH on the Testnet.