In the past four months, the Rubic development team has identified some of the most important problems facing the crypto industry today and have been working on a groundbreaking new feature that has the potential to revolutionize the crypto space. We have created and are in the midst of testing the world’s first cross-chain routing solution and will officially launch on the 31st of August.
The Problem
Unfortunately, the current state of trading platforms in the crypto industry is still overly complex with plenty of restrictions regarding many crypto-related features. One of the biggest problems plaguing crypto investors is in relation to the transfer of a large amount of tokens across different networks through network bridges with limited swap options. Not every token can be swapped while bridges might have a dozen cryptocurrency pairs to swap between at best. This is where Rubic comes in, enabling at launch the ability to swap over 7,500 tokens across three different blockchain networks: Ethereum, BSC, and Polygon.
Every network has its pros and cons, while investors are increasingly finding the need to transfer their assets between different blockchains. Currently, many projects have created, or attempted to create their own cross-chain solutions and integrate bridges onto their platforms. This has significantly changed the world of DeFi, but there are still some major issues that people are facing when they want to transfer their tokens to another network. Almost all available bridges have their restrictions, limits and risks, which users are constantly facing when they transfer their funds.
Even the most popular bridges have numerous restrictions that still make the process fairly difficult. The Binance Bridge for example, only allows a maximum of three trades per 15 minutes. In addition, every bridge usually only has a small, select list of specific tokens that are available for swaps across networks.
While these tokens are often the most popular ones, this doesn’t make it any less of a problem for people who prefer to hold different assets. With new projects being released on a regular basis, there are hundreds, if not thousands, of tokens on Binance Smart Chain alone. Investors often need to make two or three trades (while paying gas fees for each one) before they’re finally able to transfer funds onto their target network.
Their problems don’t stop there! Even after completing several steps and successfully swapping their assets to the currency that the bridge supports, investors will need to make sure they have the native coin of that network to pay for gas fees. How do they get ETH for Ethereum and MATIC for Polygon? You guessed it…more swaps.
It’s because of issues like this that often deters investors from completing cross-chain swaps at all. The sheer complexity of swaps is overly complex, takes too long and is far too expensive for the simple act of transferring tokens across networks.
Rubic to the Rescue
With Rubic, there is now light at the end of the tunnel. While other projects claim to offer cross-chain swap support on their platforms, their solutions are limited and gimmicky at best whereas Rubic has created an actual and true cross-chain swap solution.
Rubic’s main goal in DeFi is to unite all blockchain networks into one place, and help DeFi users easily swap any and all 7,500 assets in the easiest and most profitable way possible.
To accomplish this, we’ve created Rubic’s Cross-Chain Routing, a tool that will enable traders to swap any token, on any network, quickly and without complicated, unnecessary steps. We fully expect the launch of this feature to be hugely popular with (and frankly a massive relief to) anyone currently swapping tokens between different blockchain networks.
The above diagram gives you an idea of just how much our Cross Chain Routing solution will help in simplifying the current process of swapping Token A to Token B on a different chain. Where users currently have to go through a 14 step process (depicted by the journey on the right), users who use Rubic’s Cross Chain Routing Solution will see that significantly reduced to only four steps.
Our Cross-Chain Routing feature will launch with three major blockchain networks: Ethereum, Binance Smart Chain, and Polygon. Over time, we’ll continue to expand and are planning to add new blockchains such as Harmony, Solana, Fantom, Cardano, and more.
We are in the final stage of testing and will soon be ready to release this feature to the entire world. The days of complicated and limited cross-chain swaps are about to be a thing of the past.
The World’s First and Only Cross-Chain Routing Solution is on rubic.exchange!
Check out our Socials
Twitter: twitter.com/CryptoRubic
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Website: rubic.exchange/
Discord: discord.com/invite/hayrHU2Tvh
CoinMarketCap: coinmarketcap.com/currencies/rubic/
CoinGecko: www.coingecko.com/en/coins/rubic
Source : bsctimes
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