FujiDAO, a mortgage aggregator platform that identifies one of the best charges on a number of blockchain protocols, introduced at present it has expanded its capabilities throughout chains due to its integration with Connext.
With Connext, builders have entry to trust-minimized cross-chain communication to make blockchains composable. The Connext Bridge software is constructed on high of Connext’s nxtp protocol. Connext Bridge helps asset transfer between L2s and Ethereum Digital Machine suitable chains.
The FujiDAO group designed a system that permits customers to bypass the excessive charges on mainnet by providing a 1-click beam of their debt place (collateral + debt) to a brand new desired chain the place they are going to take pleasure in cheaper borrowing charges. Connext is used to bridge the belongings and knowledge through xcalls:
“Connext is a superb match for the implementation of our cross-chain lending aggregation engine due to the minimized belief assumptions of their safety mannequin. We additionally love how all of the complexity is abstracted in easy xcalls so we will deal with our enterprise logic. We first met a part of the group at ETHAmsterdam and have had a fruitful collaboration since then. It’s thrilling to work with top-notch applied sciences, but it surely’s equally vital to have an awesome expertise with the folks behind these applied sciences.”
– Boyan from FujiDAO
Connext + FujiDAO Advantages
- Can work together from any chain, borrow on any chain, and use collateral on any chain.
- Will be capable of add collateral on chain A and borrow one other asset on chain B with one of the best charge throughout a number of lending platforms due to FujiDAO’s routing system that selects one of the best platform to make use of.
- Customers can already provide ETH as collateral and borrow DAI, USDC, or USDT and use the platform on Ethereum and Fantom, and shortly be capable of transfer throughout chains seamlessly.
FujiDAO’s goal is to make borrowing extra accessible to customers and turn into a bit of infrastructure that may make the market extra liquid and fluid. The protocol achieves this by consistently monitoring borrow markets and, each time there’s a higher charge, it mechanically refinances the entire pool of debt.
As defined of their documentation, “the benefits of Fuji in comparison with interacting instantly with a base protocol embody…”
- Value optimization – reduce the curiosity paid by debtors
- Economics of scale – pooling funds collectively cut back the transactional prices by sharing mounted prices
- Time-saving – elimination of fixed consideration customers have to pay to seek out optimum charges
- Seamless – a clean UX expertise for customers
A cross-chain lending aggregator means higher charges, price financial savings, and extra market effectivity.
