Symbiosis Finance (SIS)

Cross-Chain Liquidity and Swaps

Symbiosis Finance is a protocol that lets users swap tokens and move liquidity across different blockchains with just one click and one transaction. It supports many networks like Ethereum, BNB, Avalanche, Polygon, and more, providing the best rates for any token swaps regardless of the blockchain.

Governance and Staking

The native token SIS is used for governance in the Symbiosis DAO, allowing holders to vote on decisions about the protocol. Users can stake SIS tokens (veSIS) to earn rewards, get discounts on fees, and boost their earnings from providing liquidity.

Liquidity Provision and Rewards

Users can provide liquidity to special pools called Octopools, which power cross-chain operations. By doing this, they help grow the DeFi ecosystem and earn rewards in return.

Developer Integration

Symbiosis offers APIs and SDKs so developers can add cross-chain swap and liquidity features to their own apps and platforms easily.

Upcoming Features

Symbiosis is working on PoS staking and integration with Symbiotic, a restaking protocol that will enhance security and rewards for validators and stakers within the ecosystem.

For more details, visit symbiosis.finance.

Pros

• Cross-Chain Swaps: Symbiosis Finance allows users to swap tokens across multiple blockchains in one click, supporting networks like Ethereum, Avalanche, BNB, Polygon, and more.
• Best Rates: It offers competitive exchange rates by aggregating liquidity from various sources.
• Non-Custodial: Users keep full control of their funds; the platform does not hold user assets.
• Simple Interface: The platform is designed to be easy to use, even for beginners.
• Liquidity Rewards: Users can provide liquidity to earn rewards and participate in the growth of the DeFi ecosystem.
• Governance: SIS token holders can vote on protocol decisions through the Symbiosis DAO.
• Fast Transactions: Cross-chain swaps are completed quickly, usually within minutes.
• Decentralized Relayers Network: Ensures secure and efficient cross-chain communication without a central authority.

Cons

• New Platform: Being relatively new, it may have fewer users and less liquidity compared to more established platforms.
• Limited Blockchain Support: While growing, it currently supports mainly popular EVM and some non-EVM chains, which may limit some users.
• Mixed User Reviews: Some users have reported issues with swaps or customer service on external review sites.
• Testnet Availability: Some features or versions may still be in testing phases, which could affect stability or availability.
• Complexity for Some Users: Cross-chain technology can be complex, and new users might need time to fully understand how to use all features.

For more details, visit the official site: symbiosis.finance

Founders of Symbiosis Finance

Symbiosis Finance was founded in 2021 by Nick Avramov. He is the main founder behind the project, which focuses on decentralized multi-chain liquidity solutions.

Investors in Symbiosis Finance

Symbiosis Finance has raised funding through multiple rounds with about 14 investors involved. Some notable investors include:

• Blockchain.com Ventures: Participated in the seed funding round.
• Binance Labs: Made a strategic investment to support growth and expansion.
• Delta Blockchain Fund: One of the known backers.
• YZi Labs: The most recent investor.
• Evolve Capital: Recently joined the list of investors.

These investors come from venture capital and blockchain-focused funds, supporting Symbiosis Finance's development as a multi-chain liquidity protocol.

Halal Status of Symbiosis Finance

• Yes or No: No clear public information confirms that Symbiosis Finance is halal.
• Reason: There is no official Shariah certification or clear indication that Symbiosis Finance follows Islamic finance principles or Shariah compliance. Without such certification or guidance from recognized Islamic finance authorities, it cannot be confirmed as halal.