With blockchain networks and their relevant decentralized applications (DApps) growing at a rapid pace, there comes the question of interoperability. If a user on Ethereum (ETH) wants to use a DApp on the Binance Smart Chain (BSC), there’s no fast, cheap way to do so. Instead, the process is expensive, time-consuming, and inaccessible to new cryptocurrencies.
Considering the blockchain space is meant to be one that’s open and accessible to all, its current lack of interoperability is a massive barrier standing in the way of widespread adoption. Fortunately, there are crypto projects that recognize the importance of cross-chain interaction and are working to break down the barriers involved. One such project is forbitspace.
The multi-chain future DEX “super aggregator”
forbitspace brings a decentralized crypto aggregator that connects various blockchain networks for easy interoperability. The protocol currently supports Ethereum, Binance smart Chain, Polygon, Avalanche and is launching soon on Arbitrum and Optimism networks.
Essentially, users can connect their wallets to the forbitspace platform and easily trade assets between networks. Trades are almost instant and cost next to nothing as well, making them quite accessible to those looking to dip their feet in DApps across different blockchains.
By connecting their wallets, users and traders need only a wallet compatible with them across different blockchain networks on the forbitspace platform and swap assets between networks quickly and efficiently. Anyone with a smartphone and an internet connection can benefit from the financial services offered by forbitspace’s The DEX super aggregator. Transactions are near-instantaneous and cost less, making them ideal for anyone wishing to dabble in DApps across different blockchains.
Users and traders in the crypto space receive the lowest possible price due to forbitspace’s trading algorithm. With this algorithm, a user’s transaction is split into smaller ones to avoid slippage. Slippage occurs when there is a difference between the actual price of the asset and the price in which a market order was made. Given the volatility crypto markets have, slippage occurs almost all the time, costing traders tons in extra fees; but with forbitspace and its trading paths, slippage is much less of an issue.
The forbitspace DEX super aggregator has also addressed the sporadic liquidity issues brought about by fragmented marketplaces, pooling together fragmented liquidity in a single place.
A crypto liquidity multi-chain ecosystem
While the platform provides a valuable way to facilitate cross-chain trading, it also tackles the liquidity issue suffered by various DEXs.
As DEXs are cut off from projects on other blockchain networks, liquidity is fairly limited in the grand scheme of things. However, by connecting the liquidity flowing through each network, forbitspace provides DApps with liquidity that would otherwise be unavailable due to interoperability barriers.
forbitspace uses an algorithmic smart order routing that splits a transaction into multiple orders across various DEXs. The platform also routes orders through and allows crypto traders to tap deep liquidity and receive better pricing, low cost and efficiency in the most of liquidity.
forbitspace DEX super aggregator is an interoperability protocol that connects disparate blockchains. That unites decentralized applications across disparate blockchains, simultaneously uniting liquidity across chains and making it possible to transact in, out, and across disparate networks with ease.
To assure users of the project’s usability and security, forbitspace brought in CertiK, a cybersecurity firm founded by Yale professors, to audit its code and activated CertiK Skynet, which is an on-chain security and data insights platform that provides 24/7 monitoring of smart contracts.
Hacken, one of the leading crypto audit companies, also participates in the audit of the forbitspace protocol.
forbitspace has a FBS token for governance and liquidity mining purposes. FBS holders have an additional say in the network’s future, with the ability to propose and vote on changes and upgrades. FBS can also be used to reward liquidity providers within the forbitspace network. The more liquidity a user provides, the more they earn in rewards.
forbitspace is still in its early launch stages, but it has bold plans for the future.
The company plans to branch into AMM space exploration, integrate NFT and Metaverse spaces, which are also spread across multiple blockchains. This upgrade will go hand-in-hand with its eventual multi-chain wallet and lead to a full-on entertainment plan to improve Web 3.0 and gaming add-ons to the platform’s space metaverse.
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