SpiritSwap Integrates LI.FI’s SDK
SpiritSwap, a decentralized exchange housed on Fantom, has integrated LI.FI’s SDK into V2 launch. Users can now bridge any tokens from six LI.FI supported chains to and from Fantom with the click of a few buttons.
What is SpiritSwap?
SpiritSwap is the seventh-largest dApp on Fantom by total-value-locked. Launched in Q2 of 2021, SpiritSwap was one of the earliest dApps to go live on Fantom. While SpiritSwap initially launched as a DEX, it has since expanded to offer a suite of DeFi tools, including a portfolio management system, yield farming opportunities, and lending + borrowing.
With the launch of V2, SpiritSwap is adding more improvements to the protocol. Number one on LIFI’s radar is its new bridge aggregator, which allows users to simultaneously swap and bridge assets at the same time via the LI.FI SDK.
SpiritSwap x LI.FI
Notably, the bridging functionality will be highly adaptable for users. For example, when a user clicks the “Cheaper” button in the bottom right corner of the bridging frame, it opens up a “Settings” page where users can toggle between “Cheapest” and “Fastest” bridge modes.
In addition to launching LI.FI powered bridging, SpiritSwap V2 also unlocked the following features (among other things):
Fee structure changes that reduce fees from .3% to .18% for Classic AMM transactions.
A new protocol fee will see 25% of fees returned to SpiritSwap liquidity providers.
Spirit Farms are now permissionless through a governance guarded whitelisting system.
Gauges can be sliced into three isolated gauge proxies for greater control over emissions for significant SpiritSwap pairs.
Read through the SpiritSwap V2 announcement for more information!
What is LI.FI’s SDK?
LI.FI is a cross-chain bridge aggregation protocol that supports any-2-any swaps by aggregating bridges and connecting them to DEXes and DEX aggregators. As of writing time, LI.FI supports 17 DEXes, 16 chains, and 10 bridges (with more to come soon) — all in a single user interface.
To summarize, the LI.FI SDK is the ultimate cross-chain money legos for dApps like SpiritSwap to build on top of or plug into themselves.
We’ve integrated multiple fallback bridges+DEXs so that dApps don’t have to
We maintain bridges+DEXs so that dApps don’t have to
We choose the best bridges based on our research so that dApps don’t have to (positioning ourselves neutral)
LI.FI is like 1inch & Paraswap for bridges. We choose the best bridge to move funds from one chain to another. Furthermore, since many bridges support a limited amount of tokens, we have DEXes on both sides of the bridges to swap before and after the bridge, thus facilitating any-2-any swaps across chains.
LI.FI x SpiritSwap
The LI.FI x SpiritSwap collaboration is a win-win.
With the LI.FI SDK, SpiritSwap becomes a more robust DeFi platform and can now allow users to bridge assets from a plethora of chains onto Fantom via a multitude of chains. From LI.FI’s perspective, we get to partner with an innovative first-mover who will bring volume through LI.FI smart contracts and help cement us as THE cross-chain infrastructure solution for dApps to build on.
We are thrilled that SpiritSwap chose LI.FI as its cross-chain bridging solution. By integrating our SDK, SpiritSwap can enable users to bridge to Fantom directly inside their dApp. Creating a seamless cross-chain user experience is key to our ethos at LI.FI and we are excited to see SpiritSwap join the LI.FI family!
We are excited to see who will integrate our SDK or widget next.
To learn more about SpiritSwap, check out their…
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.