{"id":54553,"date":"2021-12-13T11:17:52","date_gmt":"2021-12-13T09:17:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54553"},"modified":"2025-09-03T21:01:52","modified_gmt":"2025-09-03T18:01:52","slug":"blockchain-symbiosis-how-symbiosis-finances-cross%e2%80%91chain-swaps-protocol-works","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blockchain-symbiosis-how-symbiosis-finances-cross%e2%80%91chain-swaps-protocol-works\/","title":{"rendered":"Blockchain Symbiosis: How Symbiosis Finance\u2019s Cross\u2011Chain Swaps Protocol Works"},"content":{"rendered":"

In early December, the total TVL<\/span> in DeFi protocols exceeded<\/a> $256 billion. More than 65% of these funds are in Ethereum, with the remainder in Binance Smart Chain (6.53%), Avalanche (4.79%), Solana (4.76%) and other networks<\/a>. <\/p>\n

The project Symbiosis Finance<\/a> is developing the eponymous protocol to consolidate liquidity across several blockchains in a single interface. We explain how the protocol works and why users need SIS tokens.<\/p>\n

What problems does Symbiosis Finance solve<\/h2>\n

In October, testing of Symbiosis Finance began on Ethereum Rinkeby, Binance Testnet, Polygon Mumbai, Avalanche Fuji, Huobi Eco Chain Testnet and OEC Testnet. By the end of December, the developers will add a Solana testnet. Deployment of the protocol on main networks is planned for January 2022.<\/p>\n

The project team consists of 30 people, 22 of whom are developers.<\/p>\n

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\u00ab<\/em>Symbiosis Finance \u2014 this is a solution to the problem of liquidity fragmentation across networks. The user experience when working with DEX<\/span> across different blockchains looks like a nightmare. We want to fix this\u00bb, \u2014 says the co-founder and chief marketing officer of the project, Nik Avramov.<\/em><\/p>\n<\/blockquote>\n

After the mainnet launch, Symbiosis Finance will swap wrapped tokens between the blockchains Ethereum, Binance Smart Chain, Avalanche, Solana, Huobi Eco Chain (HECO), OEC and Polygon. In the future, developers will add support for other networks and L2 solutions.<\/p>\n

The SIS token and the Symbiosis Finance DAO<\/h2>\n

SIS is an ERC-20 token with a supply of 100 million<\/a>. Its holders can earn via staking and bring to a vote DAO proposals to change the protocol.<\/p>\n

Token listings were conducted by Bybit<\/a> and Gate.io<\/a>. It is currently also traded on platforms ZT<\/a> and Uniswap<\/a>.<\/p>\n

In October Symbiosis Finance sold<\/a> 10 mln SIS for $2 mln in a seed funding round. Participants included Blockchain.com Ventures, Wave Financial, BTC Inc, KuCoin Labs, Injective Labs, DAO Maker, Primitive Ventures, Kairon Labs, Gate.io and Avalanche.<\/p>\n

\"Blockchain
Distribution of SIS tokens. Data: Symbiosis Finance<\/a>.<\/figcaption><\/figure>\n

Another 40 mln SIS will go to farming, providing liquidity to the protocol, an auction for relay-network slots, and staking.<\/p>\n

The remaining tokens will be allocated to participants of a private sale and several public token sales, as well as the project\u2019s advisors and the Symbiosis Finance developers.<\/p>\n

Protocol architecture<\/h2>\n

Symbiosis Finance conducts swaps using synthetic tokens (Synthetic Token, sToken).<\/p>\n

The protocol locks the cryptocurrency in the original blockchain and issues tokens in the other network at a 1:1 ratio. When the cryptocurrency is returned to the original blockchain, Symbiosis Finance burns the sToken.<\/p>\n

The protocol consists of three modules:<\/p>\n