On December 16, Symbiosis Finance, a multi-chain liquidity protocol, announced the release of Symbiosis v2, claiming higher mining pool efficiency and the ability to simply add more networks.
Symbiosis expanded to Boba and BNB Chain in v2, and only one pool is used for cross-chain transactions between several networks. When a new network is introduced to the protocol, another sToken must be added to the currently existing pool.
Based on market sentiment and demand from the community and partners, the firm will add new networks (including non-EVMs) in the coming months. In addition, v1 and v2 will operate concurrently for a period of time. Those that use the Symbiosis API will only need to change the URL to v2 instead.
The system was subjected to a security audit by Zokyo before release, and the results will be posted on GitHub soon. Over the following few weeks, the system’s performance will be monitored on a regular basis, and possibly some UI/UX testing will be conducted. Symbiosis will continue to develop on integrations with aggregators and wallets, with announcements coming soon.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
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Symbiosis Finance Introduces Symbiosis V2
On December 16, Symbiosis Finance, a multi-chain liquidity protocol, announced the release of Symbiosis v2, claiming higher mining pool efficiency and the ability to simply add more networks.
Symbiosis expanded to Boba and BNB Chain in v2, and only one pool is used for cross-chain transactions between several networks. When a new network is introduced to the protocol, another sToken must be added to the currently existing pool.
Based on market sentiment and demand from the community and partners, the firm will add new networks (including non-EVMs) in the coming months. In addition, v1 and v2 will operate concurrently for a period of time. Those that use the Symbiosis API will only need to change the URL to v2 instead.
The system was subjected to a security audit by Zokyo before release, and the results will be posted on GitHub soon. Over the following few weeks, the system’s performance will be monitored on a regular basis, and possibly some UI/UX testing will be conducted. Symbiosis will continue to develop on integrations with aggregators and wallets, with announcements coming soon.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
Coincu News
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