Cross-chain Support
There have been many attempts at cross-chain support. WBTC is probably the most known, creating an ERC20 token wrapping BTC; Thorchain is building an entire protocol that allows for complete, fast cross-chain support.
There are lots of ways to attempt it. One thing all of the current versions have in common, though, is an oracle, or panel of token holders, or some other place where the truth is decided by people expected to be honest. Because, fundamentally, BTC isn’t on Ethereum, so how can a smart contract know or impact its transfers?
Enter Nagaswap Protocol.
Nagaswap is not perfect; nothing is. There are fundamental tradeoffs between speed and decentralization; sophistication and ease of use. But Nagaswap is different, and it’s powerful. Its software enables a fast DEX; it has cross-chain support, stable coins, wrapped coins, order books, and the ability to create custom and novel financial products; and while having all of those, it’s fully decentralized. There are no oracles to centralized price feeds; no tribunals whose honesty you rely on. Nagaswap is pure DeFi. And unlike current DeFi, it’s fast and cheap.
Last modified 2yr ago