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NewsBTC 2021-12-06 10:30:55

ChainSwap to Launch Industry’s First Cross-Chain Aggregator

ChainSwap, a cross-chain asset bridge & application hub for smart chains, launched its cross-chain bridge aggregator today. The initial version of ChainSwap Cross-chain Bridge Aggregator integrates three leading bridge solutions, namely Poly Bridge, Multichain, and AnySwap. More bridges are expected to be supported by the aggregator. ChainSwap’s final goal is to integrate all cross-chain bridges available on the market and become the go-to platform for cross-chain solution seekers. Why a Bridge Aggregator: Current Challenges Imagine that you want to transfer a token from ETH to BSC with a decentralized cross-chain bridge. Currently, there are a few challenges. First, you need to research which bridge supports the token on both chains. Second, you need to choose which bridge provides the best deal with the lowest slippage and transaction fee, on top of other information such as estimated bridge duration time. In order to do that, you have to spend time comparing all the currently offered bridge solutions. This is difficult and time-consuming as the currently offered bridge solutions do not have a common interface, this is where the Chainswap bridge aggregator comes in. Market Analysis According to Dune Analytics, the current combined TVL of Ethereum bridges is $26.65 billion as of Dec. 1, 2021, up by +100% from only 2 months ago. This data tracks the 17 leading Ethereum bridges and is demonstrating an ever-growing trend. Et...

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