LI.FI - 2023 Recap

Our journey at LI.FI throughout 2023 has been beyond what we had anticipated. We've collaborated with numerous integration partners who have incorporated LI.FI to fulfill their company's multi-chain needs, generating significant transaction volumes totaling billions across various protocols. As we begin to take a retrospective glance at our achievements in 2023, we will delve deeper into our developer, marketing, research, and community efforts over the past year. To kick off our 2023 recap, let's read what our Co-Founder & CEO has to say as he reflects on 2023 here at LI.FI! 💭

LI.FI Co-Founder & CEO Philipp Zentner Reflects on 2023

''In 2023, we navigated a year of dynamic change and encountered growth pains across the spectrum. It was a truly transformative period, offering invaluable lessons that fueled our evolution from a modest team to a proud small company. As we step into 2024, we eagerly anticipate allocating more dedicated resources to Jumper Exchange, providing it with the necessary space to further flourish. Since its launch at the beginning of the previous year, Jumper Exchange has made significant strides, yet we recognize the untapped potential for expansion into additional ecosystems such as Solana and Bitcoin. Furthermore, we are excited to unveil new products within the Jumper platform. Despite these exciting developments, our commitment to our B2B business, LI.FI, remains unwavering—a promise we made and continue to uphold. To our valued partners and users, consider this just the inception of a promising journey. We look forward to a flourishing and collaborative 2024 together.''

2023 Milestones 🥁

We Raised $17.5M in our Series A round 🥁

We raised $17.5M in our Series A round which was co-led by crypto-native investment firms CoinFund and Superscrypt.

Our series A raise will and has over this past year assisted us in executing our long-term strategy, which aims to bring more users to Web3 by enabling tokens and orders to trade across any chain seamlessly.

We Launched Jumper Exchange ❤️

LI.FI believes that crypto is the future, yet LI.FI also believes that crypto is currently not a good enough solution for mainstream users. That’s why LI.FI launched Jumper.Exchange: Crypto’s Everything Exchange. Our goal at LI.FI has always been to be UI & UX Maxi's, and we showcased our commitment to that statement by rebranding and revamping our B2C interface, Jumper Exchange, early in 2023.

This initiative brought about many changes, such as an improved look and feel to the interface, and incorporating more detailed information for users.

As the year progressed, we continued to add more features and ecosystems to Jumper, focusing on our vision to create a seamless experience for users to transition from any source chain to any destination chain while also providing a seamless experience for same-chain swaps by aggregating multiple DEX aggregators.

We're pleased to have such a strong Jumper community & looking forward to seeing our users grow in 2024 🫶

LI.FI joined Mastercard’s Start Path Blockchain and Digital Assets program 💳

This partnership aims to collaborate closely with Mastercard and its ecosystem of banks, merchants, and partners on building crypto-specific prototypes and knowledge exchange. In 2024, the institutions are already here and we're incredibly excited to play a role in accelerating crypto adoption worldwide 🤝

LI.FI crossed $2.5B+ in volume 📈

As the year progressed, we observed an increase in both unique users and the volume passing through all of our LI.FI integration partners. We are delighted to have seen our volume rise to over $2.5B throughout 2023 and we are expectant to see this number grow even higher in 2024 as we add new ecosystems and welcome new users to LI.FI! 🚀

New Integrations & Partnerships 👋 MetaMask integrated LI.FI 🦊

MetaMask expanded its Portfolio Dapp to include bridging with a product called MetaMask Bridges.

The new bridging tool is powered by LI.FI (and other interop solutions). MetaMask Bridges leverages LI.FI’s smart routing capabilities to quickly search for the most efficient way for a user to move an asset from Blockchain A to Blockchain B. By now, we have seen $200M+ of Volume bridged within MetaMask thanks to their integration of LI.FI 🚀

Phantom integrated LI.FI 🟣

We’re thrilled to share that in 2023, LI.FI had been integrated by Phantom to power its newly launched in-wallet cross-chain swaps feature. The partnership marks a significant step in connecting Solana with the broader EVM ecosystem. 

In-wallet cross-chain swaps are a powerful primitive that will be a huge unlock for the Solana ecosystem. It addresses one of the key user experience challenges, paving the way for the Solana ecosystem to achieve widespread adoption – moving liquidity to Solana from EVM chains. This feature will be a huge time saver for users and will make the Solana ecosystem more accessible to everyone.

We’re incredibly excited to grow the pie with the community and welcome new users and liquidity to Solana! 🥳

$1,000,000 Bug Bounty on Immunefi 🔍

In 2023 we launched our biggest-ever bug bounty by partnering with Immunefi. We’re ensuring that whitehats are rewarded for their skills, time, and dedication to securing our ecosystem. The rewards are structured to encourage diligent testing and responsible reporting.

Partnered with Top DeFi protocols 🤝

This past year we have had over 120+ protocols integrate LI.FI 👏 Whether it's an SDK, API, or Widget integration, we are pleased to be the powerhouse behind some of the most loved and widely used DeFi protocols 🚀. Here are some of our integrations that contributed the most volume in 2023: Hyperliquid, MetaMask, Phantom, Swell, Mean finance, Apebond, Seamless finance, VaporDEX, Treehouse finance, Summer.fi and Shapeshift to name a few. We can't wait to continue to serve all of our integration partners in 2024 while also welcoming new partners 🤝

Dev Updates

EVM<>Non EVM Support 🎉

In 2023, there was a growing demand for EVM<>Non-EVM connectivity. Among the primary requests from multi-chain users was for LI.FI to create a solution for transferring assets from any EVM-supported chain to Solana. As mentioned earlier with our Phantom integration, we achieved this by partnering with Phantom Wallet, enabling in-wallet asset transfers from EVM chains to Solana! We're planning to expand this support to Jumper Exchange, further opening the gateway to seamlessly bridge EVM to Non-EVM 🌌 We Introduced LI.Fuel ⛽️

We introduced a new Gas feature on Jumper Exchange, called LI.Fuel, that allows users to easily get gas on a new chain ⛽️ You can now swap for native gas tokens on any supported chain seamlessly on Jumper 🔥

Support for New Ecosystems 🌎

This past year, we expanded our support for various chains such as Linea, ZKsync Era, BASE, Polygon ZKEVM & more! 🥁 We look forward to continuing to expand our ecosystem support in 2024 🥁

FIAT Onramping on Jumper 👋

We announced our integration with Onramper, a leading fiat onramp aggregator.

This game-changing partnership allowed Jumper users to purchase over 1,000 crypto assets directly from fiat, all within Jumper’s interface.

Our vision for Jumper is to become the crypto-everything exchange, catering to every need within the complex multi-chain ecosystem. By enabling users to effortlessly buy crypto from fiat, we’re taking a major step towards fulfilling that vision.

Ecosystem Overviews & Deep Dives

Throughout 2023, Arjun Chand, our Lead Researcher, consistently produced top-quality research and articles 🤌 Here are three of his notable articles from this past year:

Crypto Aggregation Theory Pt.1 & Pt.2

Part one:

In part one, we defined the relationship between crypto and “aggregation theory,” a topic that was originally introduced by Stratechery in the mid-2010s to describe web2 business models pioneered by Airbnb, Netflix, and Uber. We delved into the fundamentals of aggregation theory and demonstrated its relevance to the crypto space, diving into how the theory needs to be modified to reflect the nuances of crypto, which leads us to define the crypto aggregation theory. Read more below 📖 Crypto Aggregation Theory FT. Bridges (Pr. 1)

Part two:

In this article, we narrowed down the scope of crypto aggregation theory to bridge aggregation: specifically analyzing the complex state of the bridge industry, how bridge aggregators work, why bridge aggregators are necessary, and the challenges in building a bridge aggregator.

Read more below 📖

Crypto Aggregation Theory FT. Bridges (Pt. 2)

The Stablecoin Bridge Almanac 2023

This article analyzes these questions by examining different stablecoin bridge designs based on how they work, their benefits, roadmap, adoption rate, and potential risk factors. By providing a comprehensive analysis, we aim to give readers an informed perspective on how stablecoin bridges may shape the future of bridging in crypto.

Make sure to give this a good read 📖

LI.FI: The Stablecoin Bridge Almanac 2023

Why Multi-Chain, Why Now❓

This article was written to compare and contrast why and how developers and/or users should utilize different types of chains being built, including EVM chains, smart contract networks built on zk tech, application-specific blockchains, and non-EVM blockchains.

Give Why Multi-Chain, Why Now below 📖 Why Multi-Chain, Why Now 👉 Visit our knowledge hub to read all our articles from 2023 📖

Marketing Mania

In 2023, it has been our pleasure to witness the lightning-fast growth of our community and user base! ⚡️ Our LI.FI X following has expanded to over 210,000+, our Discord community has reached 150,000+ members, and Jumper Exchange X account has also grown to 129,000+ members 🚀. The community is growing and we appreciate the loyalty shown to us. We could not do this without each and every community member and user that we have ❤️

LI.FI at conferences 🌍

Throughout 2023, the team participated in numerous conferences, engaging in panel discussions and hosting side events. Our founder & CEO, Philipp Zentner had a busy 2023 with many speaking engagements 🎉 Here are some of Philipp Zentner's speaking engagements:

Philipp Zentner at Messari Mainnet Talking about Interoperability in the Age of Roll-ups 🎙️

Philipp Zentner at FINTECH.LI Conference 2023 🎙️

Philipp Zentner at WalletCon 2023 🥁

Philipp Zentner at CircleForum 2023 🚀

Philipp Zentner at the European Blockchain Convention Talking about The Case for Institutional-Grade DeFi 🎙️

Community Update

LI.FI Loyalty Pass Season 1 🕹️

The ever-evolving digital space calls for innovative approaches to recognize and understand user interactions. With the LI.FI Loyalty Pass, we introduced a solution, tailor-made for users participating in the LI.FI ecosystem. This isn’t just a product — it’s an acknowledgment of the value each user brings to the table. We invited our users on a journey where their activities within the LI.FI ecosystem will receive the recognition they deserve, where every action paints a larger picture, and where you, our valued community member, are central to this unfolding narrative. We concluded season one of the loyalty pass with over 600,000+ users 🚀

We have internationalized our Communities 🌎

We aim to establish a deeper connection with our community in their native languages. Keeping this goal in mind, we've translated Jumper into multiple languages and appointed international ambassadors to oversee our global communities and manage the social accounts for these regions 🗺️

In 2024, we'll continue our dedication to better connecting with our international communities through locally translated content.

Campaigns in numbers 🚀

In 2023, we carried out numerous campaigns. Here, you'll find both the overall statistics covering these campaigns and specific highlights from some of them: Number of Campaigns: 70+ Campaigns 🚀 Number of Participants: 1,200,000+ Participants 🚀

Coming Soon:

New Articles / Interviews — More deep dives for bridges and DEXs we’re integrating. Additionally, we’ll also be working on interesting topics related to the multi-chain ecosystem as we continue building our Knowledge Hub. Partnerships — New integrations and partnerships are being worked on around the clock by our biz-dev maestros, we will keep you posted as they go live. Our Discord — reached over 150K+ members. We are going crazy. Please head to Discord.gg/lifi to join the community.

Till next time LI.FI/Jumper fam!

By Jordan Neary (Community Lead)

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Disclaimer: This article is only meant for informational purposes. The projects mentioned in the article are our partners, but we encourage you to do your due diligence before using or buying tokens of any protocol mentioned. This is not financial advice.