Introduction to Cross Swap
Easy, fast, efficient and safe. Trade your favorite tokens across 10+ chains.
What Is Cross Swap?
The first product on Coral Finance platform is our decentralized omni-chain exchange (DEX) called Cross Swap. It allows users to trade any of tokens across chains, such as BNB chain, Ethereum, Polygon, Arbitrium and so forth, without the need to go through a centralized exchange (CEX).
Cross Swap offers a few key advantages:
Trade in size with low fees: We maintain the transaction fee at 0.1%, while keeping the bridge fee at the lowest depending on the gas fee of the network you trade with.
The gateway to premium pools. Coral Finance aims to build one-stop experience for users to trade tokens they want in an instant for premium pools.
Cut off friction cost: Less transfers, less interactions with unknown protocol links that have risks and less gas fees to be prepared on many chains.
How Does Cross Swap Work?
Unlike other DEXs that normally require the liquidity from users and partners, Cross Swap does not ask for adding liquidity. We aggregate liquidity from DEXs and integrate trusted bridges to carry out the transactions. Since no actual liquidity pools are created on Coral Finance (which is the biggest difference with cSwap), there are no liquidity providers and rewards related.
For example, if a user who wants to trade ETH on Ethereum with BNB on BNB Chain, he/she only needs to choose the networks and tokens respectively and then submit the transaction. The following cross-chain proceedings will be executed automatically. A trading fees and bridge fees should be paid according to the DEXs and liquidity pool the trade is being routed through.
Asset protection is a top priority. Our trades are secure thanks to our utilization of an anonymous cross-chain verification network with ZK + TEE technology. Within the network, a Dynamic Hidden Committee manages the fragmented MPC private key, and information is verified and signed through a completely randomized process. The combination of anonymity and rotation mechanisms creates a robust network that enhances risk management.
Why Cross Swap Matters to Premium Pool?
We’ve named the swap feature ‘Cross Swap,’ which is distinct from ‘cSWAP,’ used for trading cTokens. This marks a significant milestone for Coral Finance as it represents our primary and inaugural step towards enabling seamless participation in premium trading across different chains.
Because of the wide use case of premium trading, a swap, which allows users to trade tokens they want at instant for premium pools, is inevitably required. This eliminates all steps that leads to friction cost caused by asset transfers and network switches.
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