ChainSwap Partners with Solana-based AMM and Liquidity Provider Raydium
ChainSwap, a cross-chain asset bridge and application hub for smart chains that enables projects to bridge between ETH, BSC, and HECO seamlessly, announced a new partnership with Raydium. The union will link functions for Raydium with EVM chains for ChainSwap and steer Solana to EVM-compatible chains traffic.
Bridging Liquidity Providers
The ChainSwap platform ensures projects seamlessly bridge between Ethereum, Binance Smart Chain, and the Huobi Eco Chain. It had plans to add cross-chain solutions for Bitcoin, Polkadot, and Solana. It had already commenced with a Polkastarter bridge launched on March 21. The platform is one of several multi-chain platforms entering the DeFi space in recent months.
The leading Solana blockchain-based automated market maker (AMM) and liquidity provider, Raydium, provides liquidity to a central limit order book. Thus the users and liquidity pools can access the order flow plus liquidity of the complete Serum system and vice versa.
Created on the Solana blockchain, Raydium enables significantly faster transactions, lower fees. It also has various features that will help maximize the user’s experience. Raydium is a high-performance, permissionless blockchain that enables 65,000 transactions per second with 400-millisecond block speeds.
The protocol is featured to scale together hardware and bandwidth improvements. The platform also utilizes a constant function K = Y*X, which has unique properties that are stateless for any two tokens allowing infinite liquidity for traders.
Solana is a Delegated-Proof-of-Stake (PoS) network that differs from PoS networks. Both mechanisms use Validators to process their transactions. Validators are picked according to their overall holdings in the network. The more SOL you hold, the chances are pretty high to get selected as a validator. This strategy ensures that only those vested in the network maintain this position.
Proof of history protocol in the Solano ecosystem is vital. It increases the efficiency of the blockchain by integrating timestamps in every transaction approval. These timestamps allow nodes to acquire the chronology of events.
Therefore, the system serves as a cryptographic clock for the network. ChainSwap is making headway in developing a Solana-to-EVM bridge and will allow liquidity creation on Raydium.
Raydium targets to capture and maintain a top position among AMMs and liquidity providers on Serum. At the same time, it will leverage the power of Solana to navigate the evolution of decentralized finance (DeFi) and emerge as a top protocol alongside its partners and the community.