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Understand Cross-Chain Swap Aggregator XY Finance in 5 mins
XY Finance has built an efficient and user-friendly cross-chain swap for DeFi & Metaverse and single-token liquidity provision service through X Swap and Y Pool.
XY Finance, a cross-chain swap aggregator for DeFi & Metaverse, aims to provide users with efficient cross-chain swapping services at the best price. It recently closed a $12 million round of funding from Circle (Circle Internet Financial), Infinity Ventures Crypto, Mechanism Capital, Morningstar Ventures, YGG (Yield Guild Games), and Animoca Brands. We are honored to see investors across core pillars in the industry: exchanges, venture funds, research firms, GameFi DAOs, and game developers, such as MEXC Global, TRON Foundation, gCC (gumi Cryptos Capital), Lemniscap, Evernew Capital, PANONY, Axia8, Looksrare.vc and more.
In addition to institutional investors, XY Finance gets backing from individual investors, such as Ben Chan (VP Engineering at Chainlink Labs), Kevin Tai (Co-Founder of Linear Finance), Tom Schmidt (Investment Partner at Dragonfly Capital), and Tempo (CEO of Perpetual Protocol), etc.
XY Finance Operating Model
XY Finance's advantage comes from the combination of two components, i.e., X Swap and Y Pool, which is also the operating model of XY Finance. Of them, X Swap will provide cross-chain transfer and swapping services for users, and Y Pool is used to incentivize users to provide liquidity. In return, liquidity providers can receive both swapping fees and governance token rewards. Currently, X Swap already supports cross-chain swap on Ethereum, BSC, Polygon and Fantom. The newly launched Y Pool has opened up liquidity provision services to users.
Simply put, X Swap will find the optimal cross-chain and transaction path for users, supporting cross-chain swaps between any assets, and allowing users to either swap assets on one specific chain or transfer/swap across two chains. For example, if you want to swap UNI on Ethereum to BUSD on BSC, you will first swap UNI to bridgeable assets (such as USDT, USDC etc.) on Ethereum, and migrate to BSC through Y Pool or bridge partners ( AnySwap, O3 Swap, and Multichain.xyz)
Although the operation seems complicated at first glance, X Swap only requires the user to initiate a transaction on the first chain, and the subsequent swap and cross-chain processes are automatically executed by the protocol, thus greatly simplifying the user's transaction operation process.
read full press release: https://www.prpocket.com/