Bridging across chains is a long, complex, and sometimes intimidating process for crypto users. To try to reduce the dependence on bridges, cross-chain DEXes are starting to become popular. The idea here is that you can swap any 2 assets regardless of the chain. One of the cross-chain DEX leaders is Symbiosis Finance. Symbiosis already works with more than 12 chains and most of the EVM chains you already use. And today, they are adding Arbitrum Nova to the list.
Symbiosis now connects with Arbitrum’s ArbSwap DEX. This means that any tokens on chains Symbiosis already supports can now swap easily onto Arbitrum Nova. ArbSwap is also airdropping tokens to users in case you use the DEX already. So like the other 12 chains Symbiosis supports, one click and you can move coins to and from Arbitrum Nova too.
What is Arbitrum Nova?
The main Arbitrum chain is Arbitrum One. Unlike Arbitrum One, Arbitrum Nova uses Arbitrum’s AnyTrust technology. AnyTrust is a rollup too (like Arb One) with even faster and cheaper transactions than Arbitrum One. Since the nodes hold the data instead of broadcasting it to Ethereum, there is no ETH gas to pay making Arbitrum Nova even cheaper than Arbitrum One.
In return for that speed and lower cost, there is some trust involved that the nodes will operate honestly. Click the AnyTrust link above to read more about how the technology works.
Arbitrum Nova is especially attractive for games and NFTs where people need to make fast transactions as part of playing the game. You can use the main Arbitrum Bridge or Celer to bridge your tokens to this network.
More on Symbiosis
A cross-chain DEX like Symbiosis makes life easier for all crypto users that keep funds on multiple chains. So that’s basically all crypto users, right? Moves like this are a sign of Arbitrum’s growing importance as a top L2 for Ethereum. They are also a sign that cross-chain DEXes like Symbiosis are here to stay.
Arbitrum & Symbiosis Price Activity
Arbitrum is currently the #39 crypto project by market value after their huge airdrop earlier this year. The token trades at $1.10 and has a circulating supply of 1.275 billion and a total supply of 10 billion. Its current market value is $1.4 billion, according to our friends at CoinGecko.
Symbiosis also has a token $SIS. It trades at 20.4 cents. The current market value is $8.2 million. The circulating supply is 44.3 million out of a total supply of 99.7 million again from CoinGecko. Arbitrum is widely available, while the top markets for Symbiosis are PancakeSwap, Gate.io, OKX, and Bybit.
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