Interchain communicating messaging with Symbiosis: Add any asset from one blockchain to a third-party protocol on a target chain using Symbiosis cross-chain zaps.
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The Symbiosis protocol facilitates interchain communication by allowing users to perform cross-contract calls. A cross-contract call is the ability to interact with third-party smart contracts on the target network after a cross-chain token exchange. The idea is that the tokens are not only exchanged but also immediately used within the desired protocol.
Implemented use cases:
Token Exchange for SOL and USDC (Solana) through the Chainflip bridge: The Symbiosis protocol supports the exchange of any token from supported blockchains for SOL and USDC on Solana, utilising the Chainflip bridge to Solana.
Token Exchange for BTC through the ThorChain BTC bridge: The Symbiosis protocol supports the exchange of any token from supported blockchains for BTC on the Bitcoin network, utilising the ThorChain bridge.
Token Exchange for TON through the TON bridge (depricated): The Symbiosis protocol supports the exchange of any token from supported blockchains for TON on the TON network, utilising the TON native bridge.
Cross-Chain Zap: Users can directly supply assets in third-party protocols across different blockchains, streamlining the investment process.
The Symbiosis protocol enables cross-chain token exchanges from any supported chain to SOL or USDC on Solana, utilizing the Chainflip bridge on Arbitrum One. Since the Chainflip protocol accepts USDC tokens on Arbitrum One, the Symbiosis protocol first swaps the user's assets into USDC on Arbitrum One, then deposits the USDC into Chainflip smart contracts, and facilitates the user receiving SOL or USDC on Solana.
Example Process
Consider a user holding ETH on the Ethereum network who wants to exchange it for SOL on the Solana network.
The Symbiosis protocol swaps ETH from Ethereum to USDC on Arbitrum One. Once the USDC arrives, the protocol automatically deposits the tokens into Chainflip smart contracts on Arbitrum One to exchange for SOL through the Chainflip protocol. Once Chainflip receives the USDC, it sends SOL tokens on Solana to the address specified by the user in the initial step. This process is illustrated in Scheme 1.
The Symbiosis protocol facilitates cross-chain token exchanges from any supported chain to BTC on the Bitcoin network via the ThorChain BTC bridge, either on Ethereum or Avalanche. Since the ThorChain protocol only accepts USDC tokens, the Symbiosis protocol first swaps the user's assets into USDC on Ethereum or Avalanche, then deposits the USDC into ThorChain smart contracts for the user to receive BTC.
Let’s consider an example: a user has MATIC tokens on the Polygon network and wants to exchange them for BTC on the Bitcoin network.
The Symbiosis protocol swaps MATIC from Polygon for USDC on Ethereum or Avalanche. Once the USDC arrives, the protocol automatically deposits it into ThorChain smart contracts on Avalanche to exchange for BTC through the ThorChain protocol. Once ThorChain receives the USDC, it sends BTC to the Bitcoin address specified by the user in the initial step. This process is illustrated in Scheme 2.
Important notices for Scheme 2
Ethereum or Avalanche?
When a user initiates an exchange on a supported chain, the Symbiosis protocol calculates two potential routes: one via Ethereum and the other via Avalanche. The most efficient route is then displayed to the user.
What happens after the USDC is deposited to ThorChain? Once ThorChain receives the USDC, it sends BTC to the Bitcoin address specified by the user in the initial step: Step 1. However, if for any reason ThorChain cannot accept the USDC, the USDC will be sent to the user’s address (the same as the sender's address) on either Ethereum or Avalanche.
The Symbiosis protocol facilitates cross-chain token exchanges from any supported chain to TON on the TON network through the official TON bridges, either on Ethereum or BNB Chain. Since the TON bridges only accept WTON tokens, the Symbiosis protocol first swaps the user's assets into WTON on Ethereum or BNB Chain, then sends the WTON to the TON bridge contracts for the user to receive TON.
Let’s consider an example: a user has MATIC tokens on the Polygon network and wants to exchange them for TON on the TON network.
The Symbiosis protocol swaps MATIC from Polygon for WTON on Ethereum or BNB chain. Once the WTON arrives, the protocol automatically deposits it into TON bridge smart contracts on BNB chain to exchange for TON through the TON oficial bridge. Once the ton bridge receives the WTON, it sends TON to the TON address specified by the user in the initial step. This process is illustrated in Scheme 3.
Important notices for Scheme 3
Ethereum or BNB chain?
When a user initiates an exchange to TON, the Symbiosis protocol calculates two potential routes: one via Ethereum and the other via BNB Chain. The most efficient route is then presented to the user.
USDC as the Transit Token in This Example In this example, USDC is used as the transit token for moving between networks, and the Octopool with sStables is utilized on the host network. However, for exchanges to TON, other transit tokens such as WETH or WBTC may also be used. In such cases, the Symbiosis protocol will use either the Octopool with sWETH tokens or the Octopool with sWBTC tokens.
When a user initiates an exchange, the Symbiosis protocol calculates various potential routes, using USDC, WETH, or WBTC as the transit token. The most efficient route is then presented to the user (Step 1). Comprehensive information on Octopools can be found here: Symbiosis Octopools
What happens after the WTON is deposited to the TON bridge? Once the TON bridge receives the WTON, it sends TON to the TON address specified by the user in the initial step: Step 1. However, if for any reason the TON bridge cannot accept the WTON tokens, the WTON tokens will be sent to the user’s address (the same as the sender's address) on either Ethereum or BNB chain.
Currently, cross-chain Zaps are supported for:
Lending Protocols: AAVE,
Farming Protocols: BEEFY,
Liquid Staking Protocols: LIDO
Transit tokens: Tokens such as WETH, specific stablecoins, and WBTC serve as transit tokens within the Symbiosis protocol, facilitating cross-chain operations. Please refer to sTokens in Symbiosis for more details.
Let’s consider an example: a user has MATIC tokens on the Polygon network and wants to deposit USDC into AAVE on Avalanche (the same process applies when adding liquidity to other protocols).
The Symbiosis protocol swaps MATIC from Polygon for USDC on Avalanche. Once the USDC arrives, the protocol automatically deposits it into AAVE smart contracts on Avalanche for lending. This process is illustrated in Scheme 4.
Important notices for Scheme 4
Steps 2. The Symbiosis protocol performs an on-chain swap on the user's behalf using a DEX aggregator.
Steps 4.2 and 7.2. The Symbiosis protocol mints/releases tokens at a 1:1 ratio and withholds an amount equal to the transaction processing fee on the current blockchain. For more details on the fee withholding process, please refer to Gas Fees for Cross-chain Operations via Symbiosis
Step 9. Once the deposit operation is completed, the user receives LP tokens or other confirmation of the deposit into the protocol at their address on the destination chain.
For a more detailed explanation, please see Symbiosis Routing Contracts.
If you are curious to see how it works, try our web-based application: Symbiosis WebApp.
