Cross-chain DEX v1

Eywa Cross-chain DEX is a decentralized exchange for trading assets between supported blockchains and earning on yield farming by providing liquidity to cross-chain exchanges.

At the core of the Eywa Cross-chain DEX lies the Eywa CLP Curve Pool System, which provides a united liquidity hub across our hub chain. By using a cheap and fast blockchain intermediary, we enable cross-chain transactions between two blockchains with minimal slippage and price impact in case of a possible liquidity imbalance in the networks.

To implement the functionality of cross-chain exchanges and yield farming, we use the Eywa Assets function - a derivative line of the following assets:

  • sToken (sUSDT, sUSDC, sDAI, sTUSD) — a derivative of the original locked token. Issued on another network by locking it in the Eywa Portal smart contract, which is part of the Eywa Token Bridge;

  • eToken (eUSDC, eUSDT, eDAI, eTUSD) — a derivative, backed by s-tokens of the same type and different networks in the e-pools of the hubchain. For example, eUSDT is backed by sUSD_ETH, sUSDT_BSC, sUSDT_POLY and other assets from the networks supported by the CDP protocol;

  • EUSD — an asset backed by e-tokens in the eUSD pool, which is the core of the exchange process of underlying assets between networks.

All Eywa Assets are backed by liquid assets from different networks that are locked in the protocol for cross-chain exchanges. With Eywa Assets, the user becomes, by default, a liquidity provider for cross-chain transactions and can earn income by farming Eywa Assets. The Eywa Cross-chain DEX uses Eywa CDP to ensure efficient blockchain communication with the liquidity core. This protocol can be used by any project to create its own cross-chain application.

Consider the exchange process in Eywa Cross-chain DEX on the following example: the user exchanges USDT tokens that are stored on the Ethereum network for USDC tokens on BNB Chain.

Let us describe the process step-by-step:

  1. The USDT tokens owned by the user are getting locked in a special smart contract on the Ethereum network;

  2. Instead of the real USDT tokens locked in the Ethereum network, the sUSDT_ETH tokens are synthesized for the user in the Fantom hubchain;

  3. Through the double-level pool system, the sUSDT_ETH synthetic tokens are exchanged for the sUSDC_BNB synthetic tokens;

  4. The synthetic sUSDC_BNB tokens are burned on the Fantom network and an equal number of the real USDC tokens are unlocked on the BNB Chain network, and sent to the user's wallet on this network.

Despite a complex internal technical implementation, Eywa Cross-chain DEX provides the seamless user experience. The user simply sends the native asset from the source network, signing the transaction once, and receives the native asset in the destination network without any additional steps. All actions with synthetic assets in the hubchain occur automatically.

Transaction history

Executing the cross-chain transaction is the complex multi-phase process. When conducting the exchange, you can track the execution of cross-chain transactions in real time.

Payment of commissions

Eywa Cross-chain DEX uses Gasless to pay for the exchange transactions. The user can pay the cross-chain commission with the native asset of the source network (ETH, BNB, AVAX...).

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