Decentralized Exchange (Dex) Pancakeswap has launched a click Crosschain swaps with the whole protocol that goals to resolve one of the crucial urgent user experiences (UX) in decentralized financing (DEFI).
With integration, users can exchange assets without using complex blockchain bridges or one other external infrastructure of third-party providers that complicate the user experience and extra fees.
Thanks to the intent -based transmissions of Phand, users can easily define their desired result, corresponding to:
One-click cross-schain swaps enable token-swaps directly via the PancakeWap interface between BNB chain, arbitrum and base and simplify the token transfers via New Blockchain networks.
Pancake waps Crosschain swaps. Source: Pancakewap
Historically, the activity of the intersection on Blockchain bridges has risen, which have proven to be vulnerable
In 2022, Axie Infinity's Ronin Bridge was drained in one in every of the most important crypto exploits in history. The hack geared toward a personal key scheme with multi -signatures, a preventive measure that ultimately proved to be inadequate.
“Cerschain swaps with intent-based bridges are generally safer because they don’t block their assets in a contract, which reduces the danger of exploits,” said chef at Pancakewap.
“Instead, swaps are recorded in real time by a decentralized network of relayers. This setup improves security and offers users a smooth, faster experience,” he added.
Institutions see the potential in a simplified defi
Intent-based crossschain swaps make the defi infrastructure safer, faster and easier to integrate into the prevailing systems. This could unlock the following wave of the Institutional Defi adoption, chief children told CoinTelegraph and added:
“Crisschain swaps reduce operational complexity, a lower intelligent contract risk by avoiding asset locks and offer clearer execution paths.”
Hart Lambur, co-founder of Vilice, also sees an intent-based blockchain infrastructure as a “key for onboarding institutions” and retail.
“It delivers security, auditability and clean execution without the operational overhead costs, which will likely be crucial for interaction via chains,” he told CoinTelegraph.
Other protocols have also worked on Crisschain transfer solutions to remove the friction connected with blockchain bridges.
In October 2024, Unicain ERC-7683 suggested a regular that formalize crosschain transactions by formalizing how information is shipped in various networks. This enables a decentralized network of solder to record orders from any protocol.
The co-founder of Ethereum Vitalik Buterin has expressed his support for ERC-7683 and described it because the “open standard for the marking of crisschain orders”.
Through the also in Uniswapx, there’s a decentralized network of 30 solutions that quickly fill the user with their very own means within the goal chain and enter into the ultimate risk. Swaps last three seconds.
Elsewhere, Dex Agregator 1inch used his Pathfinder update on June 10 and claims to supply 6.5% higher swap rates and make transactions faster and more seamless.
