Struggling to use your Bitcoins in DeFi?
Swingby is a decentralized proof-of-stake network that uses the latest advancements in cryptography research to allow you to move your tokens onto other chains without a trusted party. Our first launch will bridge Bitcoin to Ethereum.
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Using our simple widget, select the coin that you would like to swap from and to. Once you have entered in your destination address, press "Swap".
Next, the widget will request for a specific amount of coins to be sent to a displayed address. The requested amount is slightly less since it has a POW element applied to it.
Once the requested coins have been sent and confirmed, Skybridge Metanodes will form a consensus and deliver your new coins to your destination address.
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1. Bitcoin. The $850b market cap, MOST traded and MOST liquid coin in the world cannot be used in the $40b DeFi ecosystem which contains various lending, borrowing and trading platforms. This is also true for privacy coins, digital currencies and security tokens.
2. Cross-chain interoperability. 99% of DeFi value is locked up on the gas-expensive Ethereum chain. Other chains with higher scalability and less transaction fees aren't able to compete.
Skybridge, being a layer-2 protocol, can hook directly into chains that don't support smart contracts and bridge them onto other chains through minting or liqudity pool provision, bringing all assets to DeFi.
Skybridge can form trustless bridges between 2 completely different chains allowing for ERC20 tokens or equivalent to effortlessly travel from one chain to another, opening up the DeFi market for all.
Skybridge is powered by a decentralized network of Metanodes operated by the Swingby community. A majority of the top 50 bonded Metanodes are required to form a consensus in order for any swaps to be processed. No one has custody, but you.
