Fundamental Insights: An Overview of Mainstream Cross-chain DeFi Exchanges
fundamentallabs.substack.com
1. Background The Crypto industry has entered the crosschain era. According to Defillama, the proportion of Ethereum’s total value locked (TVL) has been decreasing since the beginning of last year, and now sits at only 58.37% down from over 95%. As the number of chains and rollups continues to grow across Web3, many applications are built on different isolated ecosystems. Although some of these applications are deployed across multiple chains and rollups, their liquidity is inevitably fragmented which is inconvenient to users. Moreover, it is troublesome for the users to move their assets across different ecosystems through centralized exchanges or clumsy bridges. To help combat this, decentralized exchanges may have to embrace the shift into cross-chain ecosystems. Since last year, many cross-chain exchange products have launched. Even
Fundamental Insights: An Overview of Mainstream Cross-chain DeFi Exchanges
Fundamental Insights: An Overview of…
Fundamental Insights: An Overview of Mainstream Cross-chain DeFi Exchanges
1. Background The Crypto industry has entered the crosschain era. According to Defillama, the proportion of Ethereum’s total value locked (TVL) has been decreasing since the beginning of last year, and now sits at only 58.37% down from over 95%. As the number of chains and rollups continues to grow across Web3, many applications are built on different isolated ecosystems. Although some of these applications are deployed across multiple chains and rollups, their liquidity is inevitably fragmented which is inconvenient to users. Moreover, it is troublesome for the users to move their assets across different ecosystems through centralized exchanges or clumsy bridges. To help combat this, decentralized exchanges may have to embrace the shift into cross-chain ecosystems. Since last year, many cross-chain exchange products have launched. Even