The Swim launch on Karura, bringing a multi-chain liquidity pool to the Karura and broader Kusama ecosystem. Swim will provide Karura with USDT metapool liquidity for increased DeFi and stablecoin functionality. The integration allows our users to swap native stablecoins across eight supported ecosystems. Once Acala is live on Wormhole and aUSD is fungible across Karura and Acala, Swim will also add aUSD support for both platforms.

Meet Swim

Swim a multi-chain AMM for native assets, designed to simplify bridging through multi-token liquidity pools and the Wormhole bridge. It eliminates the need for centralized bridges or wrapped assets by facilitating native token swapping across different chains. To leverage Swim’s product, users can simultaneously connect wallets from various protocols supported on Swim to facilitate native stablecoin swapping.

Swim’s AMM technology and Wormhole’s cross-chain communication make token swaps efficient across multi-chains. The model strengthens interoperability amongst different protocols with its barrier-eliminating solution for users performing cross-chain transactions.

Swim builds Web3 and blockchain’s market presence by:

1. Bridging the multi-chain blockchain ecosystem through Wormhole’s bridging technology
2. Employing an AMM-style bridge simplifying bridging tokens for native stableswap pools
3. Positioning itself as a core building block in the multi-chain ecosystem

Karura marks the eighth chain integration for Swim. BNB Chain, Avalanche, Ethereum, Aurora, Fantom, Polygon, Solana, and Karura form the growing list of supported chains enabling the native stablecoin swaps across their ecosystems.

Swim’s USDT metapool increases stable swap options for users

Karura and Swim’s integration enables the USDT metapool launch, meaning USDT on Karura is now a supported metapool on Swim. Metapools allow Swim to facilitate trading between new tokens and an existing metapool or Swim’s signature hexapool of USDC, USDT on Ethereum, Solana, and BUSD on BNB Chain.

Swim’s USDT metapool increases the swap pool, improving liquidity services for Wormhole. With Swim’s multi-token liquidity pools and an easy UX, Wormhole is evolving beyond bridging activities to offer increased DeFi functionality,

Using the USDT metapool provides a broader market pool for swapping stablecoins across an expansive network of protocols supported by Swim. Karura users can leverage the new integration to access efficient USDT liquidity and easy multi-chain stablecoin swapping.

About Swim

Swim is a multi-chain AMM for native assets, designed to make bridging as easy as possible. Swim 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.

Website | Twitter |

About Karura & Acala

Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate. Karura is Acala’s sister parachain to serve the Kusama ecosystem and shares the same codebase as Acala.

Website | Twitter |

Source

The post Swim Launch On Karura appeared first on Smart Liquidity Research.

Partnership Highlights

In this strategic partnership of Swim with Ratio, they will be rolling out various initiatives aimed at increasing the utility of their stablecoin LP!

Thus, includes onboarding $swimUSD as one of the first multichain stable assets to EVER be accepted on a CDP platform, thereby allowing $swimUSD holders the opportunity to mint $USDr!

Introduction to Swim

Swim is a multi-chain AMM for native assets, designed to make bridging as easy as possible. Furthermore, they eliminate 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.

Hence, Swim’s solution reduces the barriers faced by users when performing cross-chain transactions, enabling true interoperability between various blockchain networks.

Learn About Ratio Finance

Ratio Finance is a Collateralized Debt Position platform that allows investors to extend the capabilities of their liquidity provisioning efforts by locking their assets into safe & secure vaults, minting $USDr!

Indeed, Ratio’s Risk Rating Algorithms help you get maximum leverage against your deposited collateral. Without sacrificing the yield of your deposited LP!

STEPS

Therefore, you can learn more about $USDr and its extensive utility here:

https://medium.com/ratio-finance/introducing-usdr-7f9bbc3a5be

About Ratio Finance

Ratio Finance seeks to empower its users by allowing them to earn yield. Take out collateralized loans, and unlock the full potential of their capital all while providing a clean and easily accessible, and understandable interface. Since it is their goal to create an ecosystem on Solana. That favors users from every end of the spectrum all while driving liquidity and growth to the ecosystem as a whole.

Website | Twitter

About Swim Protocol

Swim, the Seamless Multi-Chain Liquidity Protocol! It provides a simple way to transfer tokens across chains via multi-token liquidity pools and Solana’s Wormhole. In short, no more delays, centralized bridges, or wrapped assets.

Website | Twitter

SOURCE

We're thrilled to announce our strategic partnership with @RatioFinance 🔥

In collaboration with Ratio, we'll be rolling out various initiatives aimed at increasing the utility of our stablecoin LP 💪 https://t.co/rylUaN2KLa

— Swim Protocol (@SwimProtocol) June 21, 2022

The post Swim Strategic Partnership With Ratio appeared first on Smart Liquidity Research.

Wormhole announced its integration with Swim Protocol, a multi-chain AMM for native assets designed to make bridging easy.

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.

Wormhole Implementation

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.”

About Wormhole

Interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration.

Website ♦ Twitter

About Swim

Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools and Solana’s Wormhole. No more delays, centralized bridges, or wrapped assets.

Website ♦ Twitter 

⏩ SOURCE

The post Wormhole and Swim Protocol Integration appeared first on Smart Liquidity Research.

Swim Protocol is preparing a revolutionary IDO, combining DeFi with the NFT world, where all community members will have an equal footing to participate, leading to a fairer distribution of tokens.

Introducing Swim City

Located in a multi-chain metropolis where assets travel seamlessly across chains, 10,000 Otter Tots have emerged from the most liquid waters to lead the way to a token paradise.

But what does this have to do with our IDO?

Each Otter Tot will be physically backed by xSWIM (staked $SWIM); which can be redeemed for $SWIM tokens.

All the Otter Tots will be redeemable for the backed xSWIM tokens at any time by burning the NFT on its platform. Redeeming the Otter removes it from the circulating supply, meaning that the Otters will be a deflationary collection.

Each of the 10,000 Otter Tots will provide yield enhancements and other benefits to holders and always be backed and physically redeemable anytime for xSWIM.

This NFT collection will be closely tied to its protocol. On top of the otterly cute art that we have worked so hard on, we have an exciting roadmap once we finish our initial mint.

This will include but not be limited to:

• Redeemability of our Otters so you can burn the NFT and claim the xSWIM it’s backed by
• SWIM emissions: not only will the Otter be backed by xSWIM, but you will receive emissions every day just by holding your Otter in your wallet
• Emission boosts raffles every week, drastically increasing the SWIM emissions for various Otters.
• Royalties from trading will go into Swim Waterfall, a smart contract that takes royalties and swaps them for SWIM tokens (as well as governance fees from liquidity pools), which means over time, the backed xSWIM will be worth more and more SWIM
• Secondary market listing of our Otters on the most liquid marketplaces
• Future collaborations with other NFT projects and DeFi protocols to add exciting utility to your Otter

The IDO minting date and the mint price is TBA.

About Swim

Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools and Solana’s Wormhole. No more delays, centralized bridges, or wrapped assets. Swim’s goal is to provide the tools necessary for users to swap from native assets on one chain to native assets on another and reduce the community’s reliance on current bridges and centralized exchanges.

Website ♦ Twitter 

⏩ SOURCE

The post Swim Introduces Otter Tots NFT Collection appeared first on Smart Liquidity Research.