Q&A with deBridge

Region: Europe
Sep 30, 2022, 8:39:56 AM Published By Wirex Team

We have recently introduced the deSwap integration that enables cross-chain swapping of your assets straight from your Wirex Wallet, we reached out to 

Check out our latest Q&A with deBridge - a cross-chain interoperability and liquidity transfer protocol that powers deSwap!

1. What are the solutions that deBridge offers, and how is deBridge unique, or different compared to other protocols that provide similar solutions?

deBridge is a secure interoperability layer for Web3, making it easy for developers to build scalable cross-chain apps with universal reach. With quick integration, comprehensive developer tooling, and framework-agnostic design, deBridge is a highly scalable interoperability solution with the best developer experience, enabling all types of cross-chain value and message transfer.

From the very beginning, deBridge was designed as a cross-chain messaging layer that could scale to enable limitless value transfer and full interoperability between blockchains, while minimizing risk through isolated security modules and automated threat detection. In this, deBridge is built to be uniquely scalable, secure, and developer-friendly as a foundational infrastructure layer for cross-chain applications.

Web3 projects can tap into deBridge’s solutions to enable seamless cross-chain functionality in their applications or websites, including deSwap API and deSwap Widget, and utilize dePort to trustlessly deploy any token on any supported blockchain, instantly.

2. Tell us more about the opportunities that users can leverage from cross-chain swaps?

deBridge enables anyone to experience one-transaction swaps across chains, between any two tokens. This is a major step forward in terms of user experience, opening up a multitude of improvements and innovations across Web3.

An application might allow its users to perform a cross-chain swap and supply the resulting liquidity to a liquidity protocol, or open a decentralized perpetual, all in one transaction without the need for gas on the destination chain — this is a tremendous improvement over the current setup. The vision here is that with deBridge, the entire cross-chain journey gets abstracted away and Web3 projects can onboard any user from any chain, via a fully seamless experience.

3. Why is deBridge excited to partner with Wirex?

deBridge is excited about the tremendous growth and progress that Wirex has made since its inception. It’s great to see that the company has become a go-to platform and solution for digital payments with the mission to make crypto and traditional currencies accessible to everyone.

A core focus area for deBridge is to empower projects and users to move between different ecosystems and blockchains in the most secure and seamless way possible. Cross-chain interoperability is crucial to achieve this and facilitate accessibility, and we believe that a great collaboration between Wirex and deBridge will bring more opportunities and access to everyone through our collaboration.

4. What can Wirex users expect from the deSwap function?

deSwap is unique in the sense it enables users to swap anything in one click from any blockchain. The solution brings high capital efficiency while providing global accessibility for Wirex users to other ecosystems and having the ability to move seamlessly between blockchains.

With that, it opens up possibilities to interact with protocols and applications in other ecosystems – something that wasn’t available in the past. Users can now go from one chain to another without having the gas token on the destination chain, experience the best routing and low slippage, and have an overall great user experience.

5. How is deBridge building on the DeFi movement?

Today, there are 50+ public blockchains, all with their own emerging ecosystems, user bases, and idiosyncrasies. One of the main problems here is that because these ecosystems aren’t able to intercommunicate, projects and users are effectively siloed within their chosen blockchain, with no way to move frictionlessly to leverage opportunities on other chains.

With deBridge, we enable transfers of value and messages simultaneously – a value proposition that goes far beyond that of the native bridges built by each blockchain ecosystem. This provides protocols and applications the opportunity to build new types of DeFi primitives and dApps that have a cross-chain component from the very beginning. These can be cross-chain swaps, AMMs, cross-chain native yield aggregators, money markets for lending and borrowing, and more.

6. How has the DeFi movement changed over the last year?

We have seen the most popular, secure, and capital-efficient solutions consolidate their positions in the DeFi market. Projects and users want to use or tap into these projects for liquidity or yield while knowing they are using a secure solution.

By having these foundational layers in place, teams have been able to start building a myriad of interesting applications and primitives that innovate and push the space forward both in terms of maturity, and in scope.

7. What do you think is in store for the DeFi movement going forward?

We truly believe that the future of DeFi will be cross-chain, where each blockchain ecosystem thrives by focusing on some particular vertical or niche. This may be modular blockchains, app-centric ecosystems, vertical-specific ones, or something else entirely. One thing is clear — applications that can effectively move value and messages at the same time across chains while being capital-efficient, low fees, top security, and seamless user experience, will gain a significant competitive advantage.

Cross-chain apps will claim increased liquidity and volume, more users, and less fragmentation. We will also see certain applications become super apps with all types of features and possibilities available from within one interface, all easily accessible without the need to move between wallets or networks. It all comes down to creating a truly seamless user experience, and that will be an integral part of onboarding the next millions and billions of users into the space.