SIS Symbiosis Finance

Key Features and Use Cases of Symbiosis Finance

Symbiosis Finance is a decentralized multi-chain liquidity protocol designed to facilitate seamless token swaps across different blockchain networks. Here are some of its main use cases:

• Cross-Chain Swaps: Symbiosis Finance allows users to exchange any token pair across supported chains, such as Ethereum, Arbitrum, Polygon, and Tron, with a single transaction and low fees.
• Liquidity Provision: The platform aggregates exchange liquidity across various EVM and non-EVM networks, enabling users to access a wide variety of tokens from different chains.
• Non-Custodial Service: Users remain the sole owners of their digital assets at all times, ensuring that custody remains with the owners and not with the Symbiosis Finance team.
• Interoperability: Symbiosis Finance enables users to send information across chains and execute contract calls on different chains, facilitating more sophisticated cross-chain operations.
• Farming and Yield: Users can earn yield on assets by adding them to Symbiosis’ liquidity pools across chains within the Symbiosis network.
• Efficient Transaction Process: The platform uses a service blockchain (s-chain) to process transactions, enhancing operational efficiency and functionality.

How It Works

• Transaction Flow: Transactions are processed via the s-chain, which hosts essential components like smart contracts with mint-burn logic and 'Octopools' (liquidity pools).
• sTokens: Synthetic tokens (sTokens) are used on the s-chain to streamline the cross-chain transfer process, representing the value of assets on the S-chain.
• Relayer Network: A decentralized Relayers Network verifies and transfers information securely, mitigating impermanent loss and enhancing liquidity provision.

Benefits

• Flexibility: Symbiosis Finance supports a wide variety of tokens from different chains, making it a versatile platform for cross-chain swaps.
• Ease of Use: The platform is designed to be user-friendly, similar to Uniswap, allowing beginners to easily swap crypto tokens across different blockchains.
• Partnerships: Symbiosis Finance has partnered with renowned entities in the crypto space, such as Bybit, Avalanche Network, and Polygon, adding credibility to the project.

Pros of Symbiosis Finance

• Easy-to-Use Interface: Symbiosis Finance has an interactive and user-friendly interface that makes it easy for beginners to navigate and use.
• Non-Custodial Service: It offers a non-custodial service, meaning users have full control over their digital assets at all times.
• Decentralized: The platform is decentralized, ensuring that no single entity can stop the protocol or censor user access.
• Interoperable: Symbiosis Finance connects major blockchains and plans to expand to more, providing a wide range of cross-chain liquidity.
• Infinite Cross Liquidity: It supplies the best exchange rate for token pairs across different blockchains, ensuring optimal swaps.
• Efficiency: There are no long waiting times or need to install separate wallets, making transactions quick and efficient.

Cons of Symbiosis Finance

• No Mobile Application: Currently, Symbiosis Finance does not have a mobile application, though users can access the website from their mobile phones.
• Limited Blockchains: While it supports several popular blockchains, it is still expanding its list of supported networks.
• Staking Requirements: Users need to stake SIS tokens to participate in consensus and sign transactions within the relayer network, which might be a barrier for some users.

Additional Features

• Active Customer Care: Symbiosis Finance has active customer support available on various platforms like Telegram, Twitter, and Discord, as well as email.
• Relayer Network: The platform uses its own relayer network protected by best-practice cryptographic primitives, ensuring secure cross-chain bridging.
• Future Developments: Symbiosis Finance is working on launching its v.2 protocol with features like unified AMM pools, smart order routing, and unified cross-chain farming.

Founders of Symbiosis Finance

Symbiosis Finance was founded by Nick Avramov in 2021. There is no additional information provided about other founders in the context of Symbiosis Finance related to cryptocurrency.

Note on Different Entities

It is important to distinguish Symbiosis Finance from other entities with similar names, such as Symbiosis International (Deemed University), which has a different set of founders and management, and Symbiosis.co.uk, which is unrelated to the cryptocurrency project and lists different founders and team members.

Investors in Symbiosis Finance

Symbiosis Finance is backed by several prominent investors and organizations. These include:

• Blockchain.com: A leading corporation in the blockchain industry.
• KuCoin Labs: An exchange-based incubator for blockchain projects.
• Gate.io: A well-established cryptocurrency exchange.
• DAO Maker: A venture firm specializing in decentralized autonomous organizations (DAOs).
• Primitive Ventures: A venture capital firm focused on blockchain and cryptocurrency investments.
• Wave Financial: A venture firm specializing in blockchain and cryptocurrency investments.
• Injective Protocol: A venture firm focused on decentralized finance (DeFi) and blockchain technologies.
• BTC Inc: A corporation involved in various blockchain and cryptocurrency projects.
• Kairon Labs: A venture firm focused on blockchain and cryptocurrency investments.
• Binance Labs: An incubator for blockchain projects, part of the Binance ecosystem.

These investors have contributed to Symbiosis Finance through various funding rounds, including seed, strategic, and private rounds.

Halal Status of Symbiosis Finance

• Halal Status: Yes
• Reason: According to the halal crypto reports provided by Practical Islamic Finance, Symbiosis Finance is classified as "Comfortable," indicating that it meets the criteria for being considered halal.