LI.FI CEO Confirms Introducing Cheaper Token Bridge and DEX Aggregator
Crypto start-up platform LI.FI announced the successful introduction of the cheaper and faster token bridge to its retail-facing interface.
LI.FI chief executive Philipp Zentner confirmed the addition of a decentralized exchange (DEX) aggregator poised to lower the cost incurred in moving digital assets across various blockchains.
Delivering Cheap and Speedy Tokens Swap
Zentner revealed that LI. FI’s jumper.exchange would interlink various trading platforms while guaranteeing the speed and cheapest swapping of tokens. Besides the capability to traverse several trading venues, he portrayed jumper.exchange as offering faster swapping of blockchains.
Zenter acknowledged the presence of multiple bridges and DEX aggregators. He added that the new token bridge is currently compatible with the Ethereum-based virtual machine ecosystem and is set to expand to other networks. The executive decried that the user journey remains overlooked despite the presence of multiple bridges and DEX aggregators.
Zero-Fees Swapping Platform for Retail Users
Zentner illustrated LI.FI’s as utilizing a noncustodial setup without aggravating the risk within the equation. The occurrence of notable collapses and exploits in 2022 compels assessing bridges and DEX platforms for safety. Zentner laments that users cannot conduct huge research on the safety of the 70 bridges present, which would involve huge overhead costs.
Zentner laments that new bridging projects are emerging, each utilizing a unique security model, attack vector, and trust assumptions. It becomes challenging for a user to review all the details in depth before deciding on the platform to utilize.
LI.FI’s existence eliminates the hassle of users examining the tens of bridges to decide on one providing cheap and faster tokens swap. Zentner restated that it imposes zero fees on retail users. Instead, LI.FI is primarily a B2B entity that offers APIs to other firms.
Tested Capacity to Handle Millions of Weekly Trading Volume
The addition of the retail-facing bridge and DEX-based swap aggregator would not impose fees. In particular, it deploys a unique API facilitating third parties to utilize standard programming calls with the capability to access stored data on the particular platform.
In his address during the just concluded ETH conference in Denver, Zentner confirmed that the retail-facing platform was tested on the capacity to handle a $100 million weekly volume. Although he was noncommittal on the destination of the startup’s numbers, he reaffirmed that LI.FI addition sustained strong performance.
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