Swing Integrates Biconomy’s Hyphen Bridge With Its Cross-Chain Bridging Protocol
Swing is happy to announce the addition of another decentralized bridging protocol to its cross-chain protocol with the integration of Biconomy’s Hyphen Bridge.
The Hyphen Bridge enables rapid and secure transactions from Ethereum to layer-2 blockchains in a fraction of the time typically required by native cross-chain swap protocols. Native layer-2 bridges can incur waiting times of anywhere between 40 minutes and 7 days when trying to move digital assets back to their originator chain, while most of Hyphen transfers are completed in less than a minute.
Hyphen accelerates this process by maintaining liquidity on both sides of the transaction, and transfers tokens immediately on the second chain after confirming receipt of tokens on the first chain. Hyphen’s protocol also automatically rebalances the liquidity split across both chains in the event of too many one-sided transfers.
Right now, Hyphen is compatible with the Ethereum, Polygon & Avalanche blockchains, allowing the seamless transfer of tokens between them. In the near future Hyphen will also launch on Arbitrum, Optimism, Moonbeam & Binance Smart Chain, before expanding to even more layer-2 blockchains and base layer protocols.
The integration of Hyphen Bridge now brings its unique features within the reach of Swing protocol users, such as the ability to pay gas fees using the same token that’s being sent, transfers that take as little as minutes or seconds to cross from base layers to layer-2’s, and much cheaper transaction fees in general.
As a ubiquitous liquidity and bridge aggregator that has already been integrated with some of the biggest, most-utilized blockchains in existence, Swing’s integration with Hyphen Bridge adds another string to its bow, and strengthens Swing’s own use-cases as we build towards a completely cross-compatible, interoperable blockchain and DeFi space.
Swing and Hyphen naturally complement each other by providing the multi-chain transaction architecture needed to create a collaborative and interconnected Web3 industry. Hyphen Bridge is built using the technical infrastructure provided by Biconomy — a protocol that aims to connect users across disparate blockchains using simple cross-chain APIs and SDKs.
This most recent integration follows the successful implementation of Swing with several leading blockchains in past weeks and months. Swing recently achieved compatibility with Polygon, Binance Smart Chain, Aurora, Fantom, Solana, Avalanche, and more. Our mission to provide the aggregation tools that connect a previously siloed and vertical DeFi landscape edges closer to fruition by the day.
Swing founder Viveik Vivekananthan applauded the Hyphen Bridge integration, noting the importance of being able to navigate between layer-1 and layer-2 blockchains with as little friction as possible.
“As we’ve seen with recent hacks of popular token bridges, moving assets between chains on different layers isn’t an easy task. Our integration with Hyphen Bridge will go a long way to helping simplify that process, while adding even more liquidity and bridging options for cross-chain traders via our aggregation tools,” said Vivekananthan.
Swing is cross-chain infrastructure for the internet on major EVM networks such as Polygon, BSC, Avalanche, Moonriver, Harmony, xDai, Arbitrum, Fantom and more. It aggregates major liquidity sources and bridges to execute the best price and lowest slippage on trades and transfers. The project helps crypto traders, investors and yield farmers move crypto capital efficiently across blockchains via a web application and upcoming API product.
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