In the rapid development of blockchain technology, interoperability and liquidity have always been core challenges faced by the industry. With the emergence of more blockchain networks (whether Layer 1 or Layer 2) and different virtual machine environments (EVM and non-EVM), both users and developers urgently need a solution that enables seamless asset exchanges across multiple networks.
Symbiosis, as a cross-chain AMM DEX platform, was created to solve these issues. This article will provide a detailed introduction to how Symbiosis works, its technical advantages, background information, and explain why Symbiosis is considered undervalued.

The Current State and Challenges of Cross-Chain Transactions

Before fully understanding the advantages of Symbiosis, it is crucial to first examine the main challenges facing cross-chain transactions today. As more Layer 1 (L1) and Layer 2 (L2) blockchains, along with both EVM (Ethereum Virtual Machine) and non-EVM chains, continue to emerge, an increasing number of projects are choosing to build on various blockchains. However, this diversity also brings a bottleneck in interoperability between networks. While traditional single-chain structures excel in security and stability, they face significant limitations when it comes to communication and asset flow between chains.

The main challenges most cross-chain projects face include:

1. Complex Operations: Users often have to go through multiple steps to swap assets between different blockchains, involving various wallets and bridge services. This process can be tedious and prone to errors.
2. High Costs: Cross-chain transactions involve fees across multiple networks, which can significantly increase costs, especially with frequent transactions.
3. Security Risks: Cross-chain bridges and relay services are often targeted by hackers, making it difficult to ensure the safety of funds. There have been numerous historical incidents where large amounts of funds were stolen due to cross-chain bridge attacks.
4. Limited Cross-Chain Assets: Due to the high costs and complexity of cross-chain technology, most projects only support a limited selection of assets across a few chains, resulting in a restricted and subpar user experience.

Given this context, Symbiosis offers a more efficient, secure, and user-friendly cross-chain solution.

Core Features and Technical Architecture of Symbiosis

Symbiosis is a decentralized cross-chain automated market maker (AMM) platform that aims to aggregate liquidity across different blockchains, whether they are EVM-compatible or non-EVM, and even including the Bitcoin ecosystem.

With Symbiosis, users can easily swap tokens between different networks, completing complex cross-chain transactions in a single operation. This seamless user experience is powered by Symbiosis’ unique technical architecture.

On-Chain Smart Contracts

Symbiosis utilizes on-chain smart contracts to handle the logic of cross-chain transactions. These contracts are deployed across multiple supported blockchain networks, ensuring that cross-chain transactions are decentralized and transparent. Each transaction initiated by users is processed through these smart contracts, guaranteeing both accuracy and security.

Off-Chain Relay Network

In addition to on-chain smart contracts, Symbiosis has designed an off-chain relay network. These relayers are responsible for transmitting messages and assets between different blockchains, enabling cross-chain communication. The non-custodial nature of the relay network ensures the safety of transactions while enhancing their efficiency.

Seamless Cross-Chain Swaps

The Symbiosis platform allows users to seamlessly exchange assets across chains within a single interface. Compared to other cross-chain platforms, Symbiosis offers greater flexibility and supports a wider variety of tokens. Regardless of the tokens users hold or the networks they are on, Symbiosis simplifies the process of swapping and transferring assets.

Pool and Zap Features

Users can provide liquidity on any Symbiosis-supported chain and earn yields. They can also use the Zap function, which simplifies cross-chain and DeFi interactions into a one-stop operation. With just one click (a single transaction), assets from any blockchain can be provided to lending platforms, farming protocols, or Symbiosis’ Octopools on another blockchain. Cross-chain Zaps currently support protocols such as AAVE, LIDO, and BEEFY.

Advantages and Innovations of Symbiosis

Symbiosis not only addresses many of the current pain points in cross-chain transactions but also offers unique advantages that position it as a future leader and paradigm for cross-chain projects.

High Interoperability

Symbiosis supports liquidity across 34 different blockchains, including both EVM-compatible and non-EVM chains such as TRON, TON, and parts of the BTC ecosystem. It also serves as the core cross-chain bridge for TON. Most cross-chain projects support only a limited number of assets with numerous restrictions, but Symbiosis allows users to obtain any supported asset after a cross-chain transaction. This extensive network support enables users to move their funds freely within a broader ecosystem, breaking free from the limitations of single-network transactions.

Simplified User Experience

Symbiosis presents the cross-chain and swap process through a simple user interface, allowing users to complete complex transactions in just one step. It even supports receiving cross-chain assets with just an address input, greatly enhancing the user experience.
All cross-chain operations can be performed within a single interface without the need for third-party tools or complicated bridging services, lowering the barrier to entry and unlocking more liquidity for Web3. Symbiosis is designed to make cross-chain transactions as easy as single-chain transactions.

Robust Security

Symbiosis’ on-chain smart contracts and off-chain relay network are carefully designed to ensure the security and transparency of cross-chain transactions. Its non-custodial architecture reduces the risk of funds being targeted by hackers while also avoiding centralized control over users’ assets.
Symbiosis has already passed audits from reputable firms such as Omniscia, Zokyo, and SlowMist, and more audits are planned to ensure the highest levels of security.

Low Cost and High Efficiency

Symbiosis’ efficient architecture and automated market maker (AMM) mechanism lower the costs of cross-chain transactions while providing faster transaction speeds. By aggregating liquidity across multiple networks, Symbiosis also offers users more competitive prices and lower slippage.

Decentralization and Community-Driven Governance

Symbiosis operates under a fully decentralized design, meaning all cross-chain transactions are executed automatically by smart contracts without any centralized intervention. Furthermore, the platform encourages community participation by offering governance tokens and various incentive mechanisms, allowing users to actively shape the platform’s development.

Symbiosis Background Information

Symbiosis facilitates seamless asset swaps across 34 blockchain networks and has processed over $2.5 billion in transaction volume across more than 2.34 million transactions, with nearly 390,000 interacting wallets to date.

Symbiosis has been integrated into all major aggregators, including Li.fi, Socket, Rubic, DODO, and collaborates closely with platforms like OKX DEX, 1inch, and OpenOcean. This extensive integration highlights its importance within the cross-chain ecosystem. Symbiosis has attracted investment from Binance Labs and KuCoin Labs and has also received grants from projects such as Mantle, GMX, AAVE, Taiko, zkSync, and TON. As the core bridge for TON, Symbiosis has solidified its influence in the cross-chain space.

The Undervalued Governance Token: SIS

Symbiosis’ governance token, SIS, has a total supply of 100 million, with 65% already in circulation. It can be used on five blockchains: Ethereum, BNB, zkSync, Linea, and Scroll. The token is listed on over 20 exchanges, including Bybit, OKX, Huobi, Gate, and BingX. \
Key functions of SIS include:

• Governance Voting: SIS holders can vote on decisions, especially those concerning the Symbiosis DAO.
• Protocol Security: SIS is used for relayer rewards, ensuring the stable operation of the relay network.
• Protocol Incentives: Participants in Symbiosis activities can earn SIS rewards.

SIS adopts a VE (Voting Escrow) model, allowing stakers to lock SIS and receive veSIS in return, which grants several benefits:

• Airdrops to veSIS holders (from projects like Scroll, Linea, ZetaChain).
• Voting rights within the Symbiosis DAO.
• Increased yield for liquidity providers.
• Up to 60% reduction in cross-chain fees.
• Native staking rewards for SIS.
• Potential additional benefits and rewards.

In July, following a DAO vote, a proposal to burn 251,384 SIS tokens (0.25% of total supply) was passed and executed on August 7th. This marks the start of Symbiosis entering a new phase, introducing mechanisms to shift SIS into a deflationary model, increasing its value as the platform evolves towards Symbiosis v3.

Currently, SIS has a total market capitalization of only $17.64 million. In comparison, Axelar’s AXL token has a market cap of $600 million, and Stargate’s STG token has a market cap of $310 million. If SIS were to reach the market cap of AXL or STG, it could potentially see 20-30x growth. During a bull market, this multiplier could increase even further.

Compared to competitors like Stargate, Synapse, and Axelar, Symbiosis has a lower market cap, but its technical maturity and vast partnership network give it significant potential, positioning it as a dark horse in the cross-chain space.

Symbiosis’ Future Outlook

As a leading cross-chain AMM DEX platform, Symbiosis is redefining the way assets are exchanged across blockchain ecosystems. Through its unique architecture and innovative solutions, Symbiosis is addressing key challenges in cross-chain transactions, bringing more opportunities to Web3.

Looking ahead, as more blockchain networks join and additional liquidity sources are introduced, Symbiosis is poised to strengthen its position in the Web3 ecosystem and emerge as a leader in cross-chain technology. For users and developers looking to move funds freely across different blockchains, Symbiosis is undoubtedly a platform worth watching and engaging with.

Disclaimer

1. This article is reprinted from B链物语, with copyright attributed to the original author 小树苗. If there are any concerns about reprinting, please contact the Gate Learn team, and they will address it as soon as possible through the appropriate processes.
2. The views and opinions expressed in this article are solely those of the author and do not constitute investment advice.
3. Other language versions of this article have been translated by the Gate Learn team and cannot be copied, distributed, or plagiarized without mention of Gate.io.