Blueshift Launches its Bridgless Cross-chain Swaps
May 25, 2023
Bridgeless cross-chain swaps in one click and executed in 10 seconds is now a reality. As Blueshift connects different blockchain networks it allows users to access liquidity from multiple chains through a single interface.
Blueshift will set a new industry standard by replacing established smart routing/pathfinder algorithms with cross-chain portfolios that will create true liquidity aggregation across chains.
Already linked with Polygon, Kava, Cardano and Algorand via Milkomeda EVM layer, Blueshift aims to unify all EVM L2s, including Arbitrum, Optimism, and ZKsync, by Summer’s end.
The underlying Layer-0 protocol, BluesChain, is developed on the powerful Cosmos SDK, which boasts broad cross-chain capabilities. Blueshift’s capabilities enhance the effectiveness of liquidity movements, facilitate seamless swaps without the need for bridges or wrapped assets, and support single-token liquidity provisioning, thereby simplifying the blockchain trading landscape.
What Makes Us Different
The defining features of Blueshift’s protocol include:
- Security by Eliminating Bridges & Wrapped Assets
In contrast to numerous platforms that depend on wrapping and synthetic assets to facilitate cross-chain transactions, Blueshift does not use these techniques. Its underlying BluesChains acts as a ledger for the cross-chain swaps, allowing for liquidity to be locked and released on the respective chains. This distinctive approach to asset trading enhances security by eliminating the potential vulnerabilities associated with wrapped or synthetic assets, ensuring users can trade with confidence and peace of mind.
- Unprecedented Transaction Speed
Blueshift redefines trading speed by supporting transactions that can be completed in just 10 seconds. This lightning-fast capability significantly outpaces the traditional 20-minute duration typically required for multi-chain transactions. Such transactions significantly improve trading efficiency, saving users valuable time and enhancing their overall trading experience.
- User-friendly Trading Experience
Blueshift is designed with an emphasis on user experience. The platform’s one-click trading feature exemplifies this user-centred approach. With this intuitive functionality, users can execute trades with the simple click of a button, eliminating the need for complicated trading procedures. This extends to single-token liquidity provisioning, where users can provide liquidity with just one token or any combination of tokens, to the simplified swap interface allowing users to swap assets quickly with less confusion.
- Liquidity Aggregation
By establishing connections with numerous blockchain networks, Blueshift can aggregate liquidity, from a variety of sources. This allows Blueshift to have more token liquidity on hand for users when they want to swap or trade assets, resulting in more stable prices and less slippage or sudden price changes during transactions.
- Ecosystem Indexes
As a portfolio-based DEX, Blueshift has the innovative flexibility to create Indexes for each interconnected chain. The recent success of the Cardano Index and the forthcoming launch of the Algorand Index exemplify this novel approach. Comprised of high-performing projects developed within their respective ecosystems, these indexes serve as performance benchmarks, reflecting the health and progress of their ecosystems.
Over the next weeks, the team will be providing more detailed and technical information about our cross-chain swaps and liquidity aggregation.