AliumSwap Launches Cross-chain Swaps on Polygon and Other Blockchains
There are many blockchains of various levels on the market and thousands of different tokens have been issued. The current problem is that many blockchains do not exchange information with each other, which means, it becomes difficult to swap your assets between different blockchains.
AliumSwap is one of those companies that created an effective cross-chain solution for every trader and investor. Indeed, the company is reinventing the DeFi narrative while promoting ease of use, security, low commissions, and opportunities to earn from the decentralized ecosystem.
Variety of Networks
The company’s AMM Multi-chain DEX already supports 10 networks, such as BNB Chain, Ethereum, HECO Chain, Polygon Matic Chain, Fantom Opera, Metis Andromeda, Moonriver, Moonbeam, Aurora, and OKC. Soon, the company intends to integrate other popular blockchains to make it easier to exchange tokens across networks.
Cross-chain Feature Integration
AliumSwap started the integration of the cross-chain feature from Polygon network and will continue with OKC right after. Then, the cross-chain feature for other blockchains will be released weekly. To exchange a token created on BNB Chain Chain for a different token on the Polygon chain, you need to follow a few steps. Firstly, choose BNB Chain and the token that you wish to swap; then Polygon Chain and the token that you would like to receive. Enter the number of tokens for your swap and proceed with your transaction.
ALM token becomes an intermediate token in the exchange. In other words, the exchange flows from token A on one blockchain over to the ALM token. It immediately proceeds to be converted to a new token B which can be on a different blockchain.
Seamless Trading Experience
Alium is aiming to deliver a seamless cross-chain experience, where all you have to do is select the blockchains and assets you want to exchange, then you will be able to see the route of the transaction and the status of each step. A process will typically take a few moments depending on how fast the confirmation of the bridge and destination chain is. You can check the status of the transaction at any time on your device, as well as check whether the assets have arrived on the destination network.
Security and Audits
To build trust and make it secure, AliumSwap smart contracts have been audited successfully by the top companies in its industry, such as Quillhash, CertiK, Hacken, and Chainsulting, a German-based firm known for its expertise in smart contracts.
Now the commission for exchanging tokens on AliumSwap equals 0.25% for every swap within the network, where 0.2% goes to Liquidity Providers and 0.05% to AliumSwap Treasury.
In case you would like to use the cross-chain swaps, keep in mind, that the commission fee on the receiving network consists of a trading fee of 0.25% for each pool of tokens on both networks and $1 for using the ALM bridge. The commission fee from the receiving blockchain applies in BNB, after users confirm their transaction.
The DeFi market is constantly offering new opportunities for traders, investors, and crypto companies, and one of the most exciting things about the cryptocurrency and blockchain ecosystem is consistent innovation. The space is largely driven by innovation and the evolution of concepts. We’ve seen decentralized finance, DEXs, and many others evolve greatly into what they are today, mostly owing to revolutionary projects reinventing the narrative, integrating new insights, and driving ease of use and overall user experience. We believe strongly that the next step towards DeFi adoption is solving issues relating to blockchain cross-platform integrations. This will have a significant impact on the DeFi ecosystem and cryptocurrency’s growing adoption.
Please check the availability of AliumSwap products in the links below:
About Us: https://docs.alium.finance/
Official Website https://alium.finance/
AliumSwap DEX: https://alium.finance/swap/
SHP Official: https://shp.alium.finance/
Telegram Chat: https://t.me/aliumswap_official