{"id":37477,"date":"2022-03-21T13:53:53","date_gmt":"2022-03-21T11:53:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37477"},"modified":"2025-08-29T17:31:42","modified_gmt":"2025-08-29T14:31:42","slug":"what-is-symbiosis-finance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/what-is-symbiosis-finance\/","title":{"rendered":"What is Symbiosis Finance?"},"content":{"rendered":"
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What is Symbiosis Finance?<\/strong><\/h2>\n

Symbiosis Finance<\/a> is a multichain liquidity protocol that allows the exchange of synthetic tokens (Synthetic Token, sToken) across the Ethereum, BNB Chain, Polygon and Avalanche networks. In April 2022 the developers will add support for Solana and Terra. <\/p>\n

The protocol locks cryptocurrency on the original blockchain and issues an sToken on another network at a 1:1 ratio. When the asset returns to its original blockchain, Symbiosis Finance burns the synthetic tokens. <\/p>\n

Developers can integrate Symbiosis into applications via the Symbiosis JS SDK<\/a> and the Symbiosis Mobile SDK<\/a>. <\/p>\n<\/div>\n

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Who created Symbiosis Finance, and when?<\/strong><\/h2>\n

According to Nick Avramov, co-founder and chief marketing officer of Symbiosis Finance, the team numbers 30 people, 22 of whom are developers.<\/p>\n

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“The core protocol developers have known each other for almost five years. Among them are alumni of Zerion and a number of other projects. Security is overseen by a former team lead at Yandex and the Japanese conglomerate Rakuten. The head of the relay-network development team previously led open-source projects at IBM\u2019s Russian division,” he notes.<\/p>\n<\/blockquote>\n

In January 2021 the team began working on the Symbiosis Finance codebase, and in June started seeking investors. In October the project raised $2 million from Blockchain.com Ventures, Primitive Ventures, Avalanche and others. In February the venture arm of the Binance exchange invested in the protocol.\u00a0<\/p>\n

On March 9 the beta version of the Symbiosis mainnet launched. The team is currently undergoing additional security audits<\/a> by SlowMist, Omniscia and Zokyo.<\/p>\n<\/div>\n

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How does the cross-chain liquidity mechanism work?<\/strong><\/h2>\n

The cross-chain liquidity mechanism is a set of smart contracts for swaps between networks. The Symbiosis Finance team deploys them when adding a blockchain to the protocol.<\/p>\n

It includes four groups of smart contracts:<\/p>\n