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Wrapped Tokens and sTokens in Symbiosis
The Symbiosis protocol uses sTokens (a type of wrapped tokens) to do cross-chain operations. More information on sToken, sToken's liquidity pools, and the supported blockchains in this document.
A wrapped token is a representation of one token through another: the source asset is locked in a special smart contract on the source blockchain where this asset exists, and
- 1.The wrapped version is issued (minted) on the same blockchain OR
- 2.The wrapped version is issued (mined) on another blockchain.
Wrapped tokens are widely used to:
- Exchange one asset for another within one blockchain;
- Exchange one asset for another within between blockchains.
The Symbiosis protocol works with a particular stablecoin on each supported blockchain to perform cross-chain operations. For instance, it’s USDC on Ethereum and BUSD on BNB.
Such a stablecoin has its wrapped representation (sToken) on another blockchain with a ratio of 1:1 to its locked original. For example, it is USDC on Ethereum, and its wrapped representation is sUSDC on another blockchain.
*sToken stands for Synthetic Token.
The Symbiosis protocol owns liquidity pools with sTokens. sTokens get minted and burned during cross-chain operations conducted via the Symbiosis protocol.
sTokens are used for technical purposes and the end users cannot trade sTokens, though they can obtain sTokens while supplying/withdrawing liquidity to/from the liquidity pools owned by Symbiosis or reverting cross-chain operations.
Symbiosis protocol V2 supports the following blockchains:
- 1.Ethereum,
- 2.BNB Chain,
- 3.Polygon,
- 4.Avalanche,
- 5.Boba Ethereum,
- 6.Boba BNB (S-Chain),
- 7.Boba Avalanche,
- 8.Telos,
- 9.KAVA
Scheme 1. Blockchains supported by Symbiosis protocol V1.
All the blockchains are connected via the servicing chain (S-Chain).
The lifespan of Symbiosis protocol V1 has peacefully reached its end, and we stopped it. The information below is for historical records about the Symbiosis protocol development.
Symbiosis protocol V1 supports the following blockchains:
- 1.Ethereum,
- 2.BNB Chain,
- 3.Polygon,
- 4.Avalanche,
- 5.Boba Ethereum,
- 6.Telos,
- 7.Aurora,
- 8.Milkomeda
Scheme 2. Blockchains supported by Symbiosis protocol 1.
Scheme 2: A link between two blockchains means that direct cross-chain operations are supported for this pair.