DeFi is well on its way to redefining the world of finance. However, the space is still very youngand a wide array of issues are stunting its expansion.
The largely insular nature of blockchains presents a unique challenge. It dilutes liquidity and makes cross-chain navigation tedious, which in turn, hinders adoption. Many projects have offered their spin on interoperability with varying degrees of success. However, it appears that none of them is yet capable of offering a final, all-encompassing solution. Until now.
Elluminex leverages an innovative protocol built on the TON blockchain that not only empowers the myriad of TON users but also offers a comprehensive and efficient solution for the entire crypto world.
Why TON?
Despite being one of the largest Layer 1 protocols, TON’s DeFi potential remains largely unexplored. Ethereum has Uniswap, Solana has Jupiter, Binance has PancakeSwap, and TON is about to have Elluminex which could outperform them all. Let’s dive deeper.
TON is the fastest-growing network with nearly 1 billion active users. The blockchain taps into the limitless potential of the Telegram messaging app. With TON’s iGaming ecosystem already thriving, it was about time that a contender in the DeFi department leveraged this enormous user base.
How Elluminex Unleashes True DeFi
According to Forbes, the DeFi market is set to be worth more than $450 billion by 2030. This is already huge given that the space is still in its infancy. However, this prediction is based on current metrics. Other experts forecast multi-trillion valuations as DeFi tends to grow exponentially and could take a large cut off a market that traditional institutions have dominated for decades, centuries even.
Elluminex takes cross-chain interoperability to the next level as it brings isolated blockchains to one place. Through its DEX, users will be able to effortlessly swap between assets quickly, efficiently, and most importantly, cheaply. This multi-chain approach also solves one of the major issues that have plagued old-guard decentralized exchanges: fragmented liquidity. Liquidity is sourced efficiently from different blockchains, which in turn, ensures low slippage.
Moreover, the platform will employ state-of-the-art security protocols to safeguard the funds and peace of mind of its users. No KYC will be needed to join either, investors will just need to con
Go to Source to See Full Article
Author: Crypto Daily
