Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools while also utilizing Wormhole’s Portal bridge for the underlying bridging function.
What is Swim Protocol?
To begin with, Swim, a multi-chain AMM that enables cross-chain swaps by establishing liquidity pools of two or more tokens across multiple blockchains.
It eliminates the need for wrapped assets by allowing users to swap from a native asset on one chain to a native asset on any other supported chain while utilizing Wormhole’s Portal Bridge to bridge those assets.
Swim’s solutions reduce the barriers users face when performing cross-chain transactions, allowing seamless interoperability between various blockchain networks.
- Native to native swap
Swim eliminates the need for users to interact with wrapped assets by allowing a swap from a native asset on one chain to a native asset on any other supported chain.
- Bridge status feature
Bridge status is a way for users to see where their funds are every step of the way without understanding the cross-chain complexity under the hood. Indeed, this unique feature provides the ability to push funds through the process if they get stuck somewhere along the way, allowing anyone to continue bridging where the process left off.
- Pool Design
You can find more information 👉 here on how pools are designed and why Swim used AMM-style pools instead of a 1-to-1 bridging solution.
Swim Protocol won the Wormhole Prize at the Solana Ignition Hackathon back in October 2022 and, in March 2022, launched its Alpha mainnet.
As previously mentioned, Swim utilizes Wormhole’s Portal bridge by relying on its mint and burn mechanism, which creates wrapped assets when initiating a bridge transfer.
As assets are deposited onto Swim’s smart contracts, the tokens are bridged via Portal, and the resulting wrapped assets are deposited into smart contracts on the target chain. These are responsible for maintaining an accurate state of token balances in the pool.
Finally, for Swim users to experience a seamless transfer, this process happens “behind the curtain.”
What Swim Protocol has to say about integration with Wormhole:
“Security is an integral part of any bridging experience and we felt it was necessary to ensure safe transactions as a vital first step in creating the protocol. Our team believes that Wormhole will likely be the most performant bridge in speed while maintaining a robust degree of security. Additionally, an advantage of Wormhole is that it will likely grow beyond the currently supported chains to include other blockchains. Swim will, in turn, grow with each new iteration of Wormhole, increasing our protocol’s functionality.”
Interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration.