Velora and Across partner to enable cross-chain swaps across 17 networks
Velora plans to leverage the Across Protocol to enable users to perform cross-chain swaps in a single transaction.
Cross-chain interoperability is one of the most important trends in crypto today. On Thursday, April 17, DEX platform Velora partnered with Across Protocol. In a press release shared with crypto.news, the company stated that the partnership will allow users to easily swap assets across multiple chains.
The integration of the Across Protocol will enable Velora users to trade assets across more than 17 chains. Moreover, traders will be able to execute swaps between any of these chains in a single transaction.
Velora leverages the Across Protocol for better user experience
Typically, swapping assets across chains involves wrapping tokens, bridging them to another chain, and then swapping the wrapped tokens on a DEX that supports the pair. The process can be technical for inexperienced users.
While Velora still sources liquidity from several DEXs, the entire process will now function behind the scenes, thanks to the Across Protocol. According to Mounir Benchemled, founder of Velora, this is a major step toward making complex blockchain operations seamless for users.
“By combining Velora’s trading optimization with Across’ crosschain capabilities, we’re creating a unified experience that makes complex blockchain interactions seamless,” Benchemled, Velora.
Cross-chain swaps will focus on the Ethereum (ETH) ecosystem, bridging 17 Ethereum virtual machine-compatible chains. The company states that this is an important step in making the EMV ecosystem more interoperable and compatible.
Cross-chain interoperability is one of the most important trends in crypto today. Different chains have different strengths, whether it’s decentralization or speed. This also means that they are best suited for specific use cases.
The Ethereum ecosystem, in particular, benefits from a shared technological foundation. This allows Ethereum and its layer-2 networks to communicate seamlessly, enabling dApps and DeFi protocols to operate across multiple chains.
