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DeFi Interoperability Boost: Chainge Finance Introduces Cross-chain Roaming

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DeFi Interoperability Boost: Chainge Finance Introduces Cross-chain Roaming

January 25
11:50 2022

Today, there are quite a lot of projects claiming they are developing cross-chain tech, or even cross-chain DEXs. But fact remains that the Fusion DCRM is the only cross-chain technology in commercial use at the moment.

Projects such as Nerve or Fantom and are currently using the Fusion DCRM tech.

However, anyone who has used bridges will sense that the user experience lacks in some areas and is definitely not ideal: users have to constantly configurate networks, and can only do one cross chain transaction at a time.

What Chainge did is basically take the cross-chain experience to the next level: Cross-Chain Roaming.

With Chainge, users don’t even have to care which chain their assets are on when they are trying to make transactions, swaps in the Chainge DEX, add liquidity or write options.

Even if the users’ assets are split between 5 or 6 different chains, they can just go ahead & proceed with their operations as usual without worrying about the cross-chain issue. Everything runs in the background (in a 100% decentralized way).

Currently the Chainge app sports over 16 chains and 85+ assets that can hop from one chain to another with just a couple of taps.

Chainge is able to accommodate any kind of project as the recent partnership with Elrond goes to prove and actually encourages them to apply.

Chainge’s main goal is and will always remain developing a fair DeFi space in the benefit of users and projects alike, with equal opportunities for all.

Some of the benefits of cross-chain roaming are but not limited to:

• Seamlessly moving assets from one chain to another without having to go through a token bridge

• Utmost simplicity and speed, performing any cross-chain transaction with just a couple of taps.

• Saving money and time Chainge having very low fees and skipping useless steps to complete cross-chain transactions.

• Complete security and thus reducing the risk of losing assets to 0 since the Chainge app is decentralized.

• 100% privacy — all Chainge cross-chain operations are in stealth mode.

From a technical perspective this is what happens in short:

When a user wants to roam their assets from chain 1 to chain 2, his assets on chain 1 will be sent to an address which is controlled by multi nodes, and the same nodes who each has a private key sharding will sign the transaction on chain 2 to send the asset to the user. Thus, everything will happen automatically in the background without you having to worry about a thing.

One might argue that CEXs provide the same kind of service knowing you are able to send your balance to any chain. However, there are a couple of major differences here:

CEXs don’t actually have real cross chain tech. What they do is create a “clone” of your asset. That “clone” only exists and is validated by the value given to it by the CEX. And since it’s centralized if the CEX is somehow hacked or if it simply disappears, so do your assets.

To conclude, the Cross-chain in stealth mode feature is outstanding simply because of its uniqueness. This level of interoperability can’t be found anywhere else. Cross-chain communication currently is extremely difficult, as well as developing cross-chain smart contracts. Right now, there are already thousands of tokens, but each token can only move freely on a single blockchain and form its ecosystem consisting of a wallet, smart contract development tools, etc.

The existing blockchain ecosystems are island ecosystems, and the Internet of Value is far from being truly interoperable. With Chainge all of that well… changes and so does the way we interact and use our assets, which can now be called universal assets.

In short, a Chainge Universal Asset is basically a regular asset with cross-chain superpowers, that can hop to/from multiple chains instantly so that users can focus on how to efficiently manage their wealth and not the blockchains behind it all. The chain doesn’t matter anymore. What matter are he asset and the operational possibilities within the Chainge.app so that you make the best out of your investment.

So, as a secondary trait, with a universal asset you can make various operations in the Chainge app that derive income (passive or otherwise)

For example, $USDC is currently able to cross-chain roam among a whooping 14 chains and can be traded, time-framed, added to liquidity pools etc.

If you want to see the cross-chain roaming solution in action and what a DeFi ecosystem governed by Universal assets (not by chains) looks like, all you have to do is download the Chainge Finance app from the Playstore or Appstore

Connect with us 

Follow Chainge.Finance on Twitter: https://twitter.com/FinanceChainge

Check out their website: https://www.chainge.finance/

Deep-dive into the tech: http://www.fusiondev.gitbook.io/

Download the Chainge Finance app from the App Store or Play Store.

Want to know more? https://linktr.ee/Chainge.Finance

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Company Name: Chainge Finance
Contact Person: Oana Batran
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City: Shanghai
Country: China
Website: https://www.chainge.finance/