Aleph.im To Provide Decentralized Indexing Services for the Swim Protocol
Aleph.im, the blockchain-agnostic decentralized storage, and indexing network have announced a partnership with the multichain automated market maker (AMM) Swim Protocol.
The partnership aims to integrate decentralized indexing services within the protocol to keep track of user transactions, in an effort to improve its overall performance.
Swim is a protocol that aims to simplify the process of bridging blockchain networks within DeFi. It aims to provide a way to seamlessly transfer tokens between two blockchains to evade the need for centralized bridges or warped assets. The protocol uses multi-token liquidity pools and a cross-chain stable swap approach to make trading across blockchain networks as simple as trading within a network.
Users can still use native assets and native gas tokens to perform cross-chain swaps and though it is positioned on the Solana network, the Swim protocol aims to become a fundamental building block for an interoperable DeFi world.
“Our partnership with Aleph allows Swim Protocol to use data-driven metrics to identify opportunities to build innovative new offerings for our users.”, said by Troy Tsui, CEO of Swim.io.
How Swim Protocol Benefits from Decentralized Indexing
As Solana’s only decentralized data indexing platform, Aleph.im has an outstanding history of providing these services to Solana-based protocols. Aleph.im has taken it upon itself to create indexers for any protocol that needs indexing services and otherwise has to depend on centralized solutions for the same.
They plan on making their indexing framework open-source this year, after which protocols can create their own indexers to integrate into their operations. Leading Solana protocols like Raydium, Serum, Saber, and Orca among many others have been able to reap the benefit of their platform, and Swim Protocol is the latest addition to this list.
With a network of over 83 nodes and specialized micro VM’s to index data, Aleph.im can create a rich data history of all user transactions and present it in a readily accessible way. This allows Swim Protocol to carefully monitor user interactions with the network and incentivize them correctly. Monitoring user behavior will also help build better products that cater to their needs. All data is cryptographically secured on the platform to minimize chances of fraud and to create ensure safe data transfers.
Interoperability being one of their major goals for the future, Aleph.im is pleased to be partnering with Swim Protocol in its efforts to boost multichain transactions and unify the DeFi industry.
About Aleph
Aleph.im is a distributed cloud platform that provides serverless trusted computing services, file storage, and indexing solutions to replace traditional centralized cloud computing. It provides dApps of any chain instant access to database solutions thanks to its scalable peer-to-peer network and programming language-agnostic interface. Explore their decentralized indexing solution.
About Swim Protocol
Swim is a multi-chain AMM for native assets, designed to make bridging as easy as possible. Our protocol 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. Swim’s solution reduces the barriers faced by users when performing cross-chain transactions, enabling true interoperability between various blockchain networks.
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