A protocol for composable omnichain liquidity aggregation is called Chain Hoppers . One-click cross-chain swaps that provide the deepest liquidity and the most competitive rate are made possible by ChainHop, which makes use of cross-chain message forwarding and cleverly aggregates multi-chain liquidity sources from leading DEXes and bridges. Furthermore, developers may readily access the cross-chain liquidity protocol using ChainHop’s high degree of composability with other dApps, enabling them to create cross-chain DeFi, NFT marketplaces, IDO launchpad platforms, and more.
A demountable omnichain liquidity aggregation technique called ChainHop sources liquidity across several bridges and DEXes. The user can now freely swap between chains at the lowest rate and with the deepest liquidity thanks to this. Furthermore, ChainHop transforms the difficult multi-step process of switching tokens between multiple chains into a simple one transaction user experience (UX) by integrating with cross-chain communication frameworks. With just one transaction using ChainHop, users may effortlessly convert token X on chain A into token Y on chain B.
Furthermore, developers may readily access the cross-chain liquidity protocol using Chain Hoppers high degree of composability with other dApps, enabling them to create cross-chain DeFi, NFT marketplaces, IDO launchpad platforms, and more. ChainHop is an essential tool for both consumers and developers because it is designed with a special Smart Cross-chain Pricing mechanism and supports the greatest number of decentralized exchanges, bridges, tokens, and blockchains.
Simple User Interface for Cross-chain Swaps
For instance, all a user has to do is complete a single transaction on Polygon in order to switch from MATIC on Polygon to BNB on BNB Chain. The following actions will be automatically carried out by ChainHop in a completely non-custodial manner:
Look for the MATIC/USDC pair’s best pricing DEX on Polygon; for example, Uniswap V3.
Use Uniswap V3 to swap MATIC to USDC and bridge USDC from Polygon to BNB Chain.
Look for the BNB/USDC pair’s best pricing DEX on BNB Chain; for example, PancakeSwap
Send the user their BNB after exchanging USDC for BNB on the BNB Chain.
Sources of Omnichain Liquidity on Chain Hoppers
The liquidity from all blockchains, including various bridges and DEXes, is combined via ChainHop. As a result, users can access the deepest liquidity on the omnichain and swap at the best price. The list of bridges and DEXes that ChainHop presently supports can be found here.
Furthermore, users can trade much more cheaply than with a single-chain DEX alone thanks to ChainHop’s omnichain liquidity and intelligent routing algorithm. For instance, when a user asks Fantom to exchange a sizable quantity of ETH for USDC. Prior to completing the ETH-USDC swap on Ethereum (often with significantly less slippage), ChainHop may bridge ETH to Ethereum first. Then, it may bridge USDC to Fantom once again. With just one click!
Completely Composable for Developing dApps Across Chains
It’s also critical to remember that ChainHop serves more than just end consumers. Applications that wish to acquire users from several blockchains using any form of token may do so with ease thanks to ChainHop’s ideal on-ramp.
The conversion of an NFT marketplace like OpenSea into an inter-chain native NFT marketplace is an excellent illustration of how apps might use ChainHop. Currently, when an NFT is placed on a marketplace, customers on the chain wherever the marketplace is located can often only purchase it using a single kind of cryptocurrency. This severely restricts the NFT marketplace’s user base and lowers seller profitability.