A flurry of recent innovations and integrations have made cross-chain swaps more accessible than ever. The ability to tap into liquidity on different chains, even when your assets reside on a different network, is extremely valuable. It enables price-efficient swaps and reduces liquidity fragmentation, which has accelerated in the multi-chain era.
For cross-chain swaps to capture a significant portion of the billions swapped onchain every day, they need to be deeply integrated throughout DeFi ecosystems, easy to use, and capable of delivering greater pricing than single-chain DEXes. With every passing week, the promise of a cross-chain landscape is becoming a reality, allowing value to flow freely through crypto networks.
SushiSwap Brings Cross-Chain to Core
Omni-chain AMM SushiSwap has integrated with Core, the blockchain ecosystem that’s powered by a blend of PoS and PoW. New blockchains are always eager to attract DeFi “blue chips” whose arrival on their network is a sign of maturity and a beacon that attracts other projects. The arrival of SushiSwap on Core will support other DeFi primitives springing up on the emerging network, allowing the creation of dapps that tap into Sushi’s liquidity pools.
The ability to execute cross-chain swaps on Core will ensure that users of the nascent chain can enjoy better pricing and liquidity levels that can match those of the leading smart contract chains. In addition to swapping tokens on Sushi, Core users will be able to provide liquidity, participate in yield farming, and earn staking rewards.
RocketX Expands Its Cross-Chain Aggregator
With more than 200 blockchains supported, including non-EVM networks such as Solana and Cosmos, RocketX is at the very heart of the cross-chain landscape. Its DEX is the most tangible manifestation of what it’s like to execute a cross-chain trade in 2023. The choice is overwhelming, but the UX is such that the entire process is as simple as using a conventional DEX. This is despite RocketX aggregating more than $100B of liquidity across all leading crypto exchanges to help users obtain the best prices for cross-chain swaps.
As if having thousands of tokens to choose from wasn’t enough, RocketX has just added support for PYUSD, PayPal’s much hyped stablecoin, which can now be purchased in one click using assets such as BTC, ATOM, and ETH. In addition, the cross-chain aggregator has recently expanded to the Hedera blockchain, whose users can access liquidity on networks such as Ethereum and Solana as a result.
Cross-Chain Bridges Proliferate
From a user perspective, the process of executing a cross-chain swap looks virtually identical to that of any other onchain trade. But beneath the surface, there’s a lot going on. The projects tasked with creating the architecture that facilitates cross-chain transfers have a lot of moving parts to attend to, and the knowledge that with billions of dollars at stake, there must be no bugs. Optimism has just launched a new feature that will make it easier to bridge any ERC20 token to its L2.
Meanwhile, Orbiter has chosen Swing as its cross-chain aggregator. Swing has been doing more than most to make cross-chain swaps a reality: its API and SDK allow developers to support cross-chain swaps within their dapps with no additional coding necessary. This unlocks cross-chain liquidity while freeing developers from needing to sync and maintain multiple blockchain nodes.
The days when Ethereum claimed all the liquidity and other chains had to make do are coming to an end. Thanks to better bridges and cross-chain DEXes, value can flow freely on demand. Every day we draw closer to the multi-chain future we were promised.
