Review on Symbiosis Finance by Mark Vlahovic

Surely, if you actively exchange crypto and keep several assets in different networks, you had the usual problem: "I have to deposit token to cex again or change token network and then exchange or add liquidity", but this is inconvenient and time-consuming. Symbiosis offers a one-stop solution. You can directly exchange your token for any other token in any network. Just one transaction in Metamask.



Problems with existing bridges and solutions

Currently, there is no market leader, and each network builds its own bridge. As a result, liquidity is distributed unevenly across all existing bridges.

Symbiosis connects all bridges into one system. In the v.1 version, all networks are connected to each other - Ethereum-Polygon, Ethereum-BSC, Avalanche-HECO, etc.

Symbiosis already has a concept and understanding of v.2 implementation, where there will be a managing network to coordinate liquidity pools.



Symbiosis Finance features

-Fully decentralized

No one can block your funds

-Compatible

Symbiosis can be connected to every chain with much attention

-All funds are yours

You are always in control of your funds, because of smart contracts

-Scalable

Unlimited cross-chain liquidity: Symbiosis will target the maximum number of token pairs





Investors and Partners

The lead investor of Symbiosis is Blockchain.com, a full-featured platform for cryptocurrency services. Also, among the investors of the project are: Spartangroup, Dragonfly Capital, Evolvecapital and others.



Project team

The project team of Symbiosis is international. At the moment there are about 30 people in the team, 23 of them are developers.

Most of them have extensive experience in cryptocurrencies and blockchain.

There is a specific communications and marketing division within the project.



$SIS token

The $SIS token is a Symbiosis Finance token. The token is used for stacking, managing Symbiosis DAO and DAO Treasury.



Upcoming plans

A month ago, Symbiosis Finance had an IDO on the DaoMaker and ByBit launchpad. At the moment you can try Symbiosis testnet. The project team told me that the mainnet launch should be in January or early February



Conclusion

Overall, there is no one-size-fits-all solution for cross-chain swaps and bridges on the market today. Symbiosis wants to be the project that combines liquidity across all networks and solves one of DeFi's problems.