More Possibilities
Last updated
Last updated
Dapps can achieve interoperability because of Butter Omnichain Services. The finality of omnichain data and asset verification by Butter Network empowers Dapps to grow limitless.
Currently, if a user has money on chain A but wants to farm on Chain B, the user would have to go through 9 steps:
Collateralize on Chain A -> borrow -> bridge (fee) -> swap (fee) -> farm on the destination chain -> swap back (fee) -> bridge back (fee) -> repay the loan -> un-collateralize.
With Butter Network, you can collateralize on Chain A, borrow on the destination chain, farm, repay, and the collateral is unlocked, skipping the four bridging and swapping fees.
Omnichain Swap allows you to swap coins with substantially lower fees than traditional DeFi exchanges by connecting you to the best cross-chain DeFi protocols. By using Butter Omnichain Service, developers can build a truly decentralized omnichain exchange that enables users to swap any token on any chain.
Omnichain SWAP also enables omnichain aggregation swap by connecting every major DEX liquidity out there. Existing AMMs can be wrapped to perform omnichain swaps from one asset to another without the need to modify any existing code. User’s will be able to swap from ETH on Ethereum to Near on Near in one single transaction from the source chain.
In an omnichain swap built with Butter Network, users can add multichain coin liquidity in one pool, that means providing liquidity to a pair of tokens from different chains becomes possible. Users can swap one token directly for another chain token from a different chain without using any intermediate token, such as stable coins, to achieve the shortest route of omnichain swap.
As the crypto industry and the idea of metaverse boomed, a lot of innovative ideas were brought to the traditional gaming sector. Gaming Finance refers to the gamification of financial systems to create profit through participation in play-to-earn crypto games. The play-to-earn games are different from conventional games since players participate to earn rewards, and players can create in-game assets with complete control over ownership.
The lifespan of a GameFi depends heavily on the popularity and user's gaming experience. To maintain popularity, a new source of players is the key, and the best way is to expand to other chains so that users from other chains can participate. With Butter Network, GameFi Projects can deploy their tokens on multiple chains and allow users from other chains to efficiently and securely transfer their assets to their project's chain. For example, an BSC GameFi project deployed its tokens on Polygon and WAX chains; Users from Polygon and BSC can transfer their assets to WAX through the cross-chain bridge and participate in the GameFi, increasing the user base exponentially.
Decentralized derivative and synthetic assets are usually constrained by the accuracy and timeliness of asset prices and quantities originating from other chains. This issue can be solved by multi-chain deployment, but it is extremely complex. By building a reliable omnichain network, Butter Network has enabled data cross-chain and is nurturing a completely new oracle market - On-Chain Oracle. With the help of Butter Omnichain Service, derivative and synthetic asset applications can easily acquire reliable multi-chain data from On-Chain Oracle.
