Inspired by the idea of a powerful gate that connects 2 dimensions of space in the universe, we came up with this name for our SpaceGate Cross-chain Bridge - a Cross-chain Bridge that enables swapping and transfers across multiple networks.
What is SpaceGate Cross-chain Bridge?
SpaceGate was first introduced in the form of an aggregator. Initially, the idea was to integrate many other bridges out there, such as Binance Bridge, WormHole, and Avalanche Bridge. The goal was to support as many chains and as many tokens as possible. We've supported below bridges:
The next stage will renovate SpaceGate from a cross-chain bridge to a cross-chain swap so that users can swap tokens A in blockchain X for token B in blockchain Y securely and conveniently.
At the same time, Coin98 Labs is also developing our own infrastructure solution, which will contribute liquidity directly to SpaceGate. This promises to reduce gas fees as well as increase the speed a lot.
Why does SpaceGate Cross-chain Bridge matter?
As multi-chain projects and interoperability become key, DeFi investors must understand how cross-chain bridges work and why it is so important. Most users use at least two chains and they may have different protocols, rules, and governance models, but a cross-chain bridge connects these disparate blockchains together by interoperating securely. SpaceGate is expected to bring:
Lower gas costs with increased transaction speeds;
Better user experience for multiple chains;
Higher security and better privacy.
This system lets users add liquidity and they will earn tokens plus transaction fees as usual. What makes it different compared with other AMMs is the number of blockchains and tokens.
In AMM, you need to add liquidity as a pair (2 tokens) and on a single chain. For example, Uniswap on Ethereum or PancakeSwap on BSC. With SpaceGate, you can add liquidity with just one single token and on multiple chains.
Smooth & flying experience
Finding a reliable bridge among the many bridges on the internet can be daunting for anyone, experienced or not. Instead of wasting time hunting, Coin98 provides users with an intuitive and friendly interface to enjoy a decentralized and seamless all-in-one experience.
The bridging flow basically requires selecting a token, a blockchain, entering an amount, and then converting, which only takes 2 - 5 minutes to complete.