Bridging across chains is a long, complex, and sometimes intimidating process for cryptocurrency users. To try toย lower the dependence on bridges, cross-chain DEXes are starting to become trending. The idea here isย theย factย that you can swap any 2 assets regardlessย of the chain. 1 of the cross-chain DEX leaders is Symbiosis Finance. Symbiosis already works with greaterย 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 Arbitrumโs ArbSwap DEX. Thisย implies that any cryptoย tokens on chains Symbiosis already supports can now swap easily onto Arbitrum Nova. ArbSwap is likewise airdropping cryptoย 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. Inย contrastย toย Arbitrum One, Arbitrum Nova uses Arbitrumโs AnyTrust technology. AnyTrust is a rollup asย well (like Arb One) with even quicker and cheaper transactions than Arbitrum One. Since the nodes hold the data instead of broadcasting it to Ethereumย (ETH), thereย is no Ethereumย (ETH) gas to pay making Arbitrum Nova even cheaper than Arbitrum One.
In return for that speed and lower cost, thereย is some trust involved that the nodes will operate honestly. Click the AnyTrust link over to read more about how the technology works.
Arbitrum Nova is especially attractive for games and Non-Fungibleย Tokenย (NFTs) where people must make fast transactions as part of playing the game. You can use the main Arbitrum Bridge or Celer to bridge your cryptoย tokens to this network.
More on Symbiosis
A cross-chain DEX like Symbiosis makes life easier for all cryptocurrency users that keep funds on numerous chains. So thatโs basically all cryptocurrency users, right? Moves like this are a sign of Arbitrumโs growing importance as a top L2 for Ethereumย (ETH). They are likewise a sign that cross-chain DEXes like Symbiosis are here to stay.
Arbitrum & Symbiosis Price Activity
Arbitrum is asย ofย now the #39 cryptocurrency project by marketย price after their huge airdrop earlier inย theย year. The cryptoย token trades at $1.10 and has a circulating supply of 1.275 Billion and a total supply of 10 billion. Its current marketย price is $1.4 billion, reportsย by our friends at CoinGecko.
Symbiosis likewise has a cryptoย token $SIS. It trades at 20.4 cents. Theย present marketย price is $8.2 Million. The circulating supply is 44.3 Million out of a total supply of 99.7 Million onceย more from CoinGecko. Arbitrum is broadly available, while the top markets for Symbiosis are PancakeSwap, Gate.io, OKX, and Bybit.
