{"id":71549,"date":"2022-12-16T12:36:03","date_gmt":"2022-12-16T10:36:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71549"},"modified":"2025-09-08T09:32:54","modified_gmt":"2025-09-08T06:32:54","slug":"symbiosis-finance-launches-second-version-of-its-protocol","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/symbiosis-finance-launches-second-version-of-its-protocol\/","title":{"rendered":"Symbiosis Finance launches second version of its protocol"},"content":{"rendered":"<p>The multi-chain liquidity protocol Symbiosis Finance has announced the launch of the second version of its beta mainnet.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s time to do it and do it loud! We&#8217;re thrilled to announce the Symbiosis v2 launch \ud83d\udc7e<\/p>\n<p>Much better pool efficiency, serving (s-chain) network and some alien magic \ud83e\ude84<\/p>\n<p>More info: <a href=\"https:\/\/t.co\/EQSrzapARK\">https:\/\/t.co\/EQSrzapARK<\/a> <a href=\"https:\/\/t.co\/VJNdtZazZ0\">pic.twitter.com\/VJNdtZazZ0<\/a><\/p>\n<p>\u2014 Symbiosis (@symbiosis_fi) <a href=\"https:\/\/twitter.com\/symbiosis_fi\/status\/1603665465141653504?ref_src=twsrc%5Etfw\">December 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>The new version of the protocol will overcome the limitations of Symbiosis v1, notably those related to stablecoin liquidity pools.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In v1, for each pair of networks, a single liquidity pool was needed for direct exchanges. The distribution of liquidity across different pools in the first version of the protocol caused capital inefficiency and a restriction on the number of networks supported,&#8221; the developers explained.<\/p>\n<\/blockquote>\n<p>In the second version, one of the networks \u2014 <a href=\"https:\/\/forklog.com\/en\/news\/boba-network-developers-launch-l2-solution-built-on-bnb-chain\">Boba BNB L2<\/a> \u2014 became a servicing network. This allowed the above-mentioned issues to be overcome.<\/p>\n<p>v2 supports only a single pool for cross-chain operations between networks. When adding a new network to the protocol, another type of sToken must be added to the existing pool.<\/p>\n<p>Users pay gas fees only on the source chain, not on the destination chain. In some directions, swap speed exceeds v1.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Overall, the pool efficiency in Symbiosis v2 is much higher, which positively affects the quoted swap price for end users and partners using our <span data-descr=\"Software Development Kit \u2014 toolkit for software development\" class=\"old_tooltip\">SDK<\/span>\/<span data-descr=\"Application Programming Interface \u2014 the interface for application programming\" class=\"old_tooltip\">API<\/span>,&#8221; said project representatives.<\/p>\n<\/blockquote>\n<p>The second version has undergone a security audit by Zokyo. For some time, the two protocol versions will operate in parallel.<\/p>\n<p>In the coming months, the development team plans to increase the number of supported networks.<\/p>\n<p>Earlier in October, Symbiosis Finance announced a <a href=\"https:\/\/forklog.com\/en\/news\/defi-protocol-symbiosis-integrates-milkomeda-network\">collaboration with Milkomeda<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The multi-chain liquidity protocol Symbiosis Finance has announced the launch of the second version of its beta mainnet.<\/p>\n","protected":false},"author":1,"featured_media":71550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1210,1001,807,2134],"class_list":["post-71549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cross-chain-protocols","tag-liquidity","tag-stablecoins","tag-symbiosis-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71549"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71549\/revisions"}],"predecessor-version":[{"id":71551,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71549\/revisions\/71551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71550"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}