Swim x Fantom AMA
July 21st 9am EST
As Swim continues to expand to more ecosystems, it’s important for everyone to continue learning- the vision that each team has for a cross-chain future, the goals of each individual blockchain and the targets and niches they hope to fulfill as well as the exciting use cases that native assets would be used for. With the release of our Fantom USDC metapool we recently held a Twitter Space with Fantom to talk about everything Fantom and Swim related, read on to find out more!
Intro
- Juan, Head of Marketing at Fantom, started venturing into crypto in 2017 during the ICO craze and gradually began working with various DEXs and other DeFi protocols on Ethereum before discovering Fantom, where he currently works
- Kingsley, Product Manager at Swim, shared a similar vision with Swim’s CEO, Troy Tsui, ex-SIG and Alameda Research trader who saw the importance of cross-chain liquidity and interoperability and created Swim to solve the issues he found
Use cases & differentiators
Fantom:
- Focused on scaling their technology vertically through addressing and improving core technologies such as the Virtual Machine and middleware processing
- A lot of people know Fantom as the DeFi chain due to the high level of interest from devs drawn to the speed, reliability, and inexpensive features Fantom offers
- Very excited about the concept of bringing Web3 & digital ownership to the gaming industry through Fantom, as well as the growth of NFT marketplaces and ownership
Swim:
- Swim was founded to facilitate cross-chain liquidity and to connect a multichain world through offering native stablecoin swaps and enabling cross-chain smart contract calls
- Mutlichain capabilities and the ability to convey messages from chain to chain remains a very prevalent need in DeFi and through leveraging Wormhole’s cross-chain messaging, Swim aims to offer a capital efficient approach to native stablecoin liquidity across chains
- Metapools allow Swim to facilitate native stablecoin swaps between new tokens and Swim’s existing hexapool and the implementation of Swim’s Propeller will enable these swaps to operate with a single-click, leading us to Swim’s SDK and direct integrations with other protocols
Cross-chain advantages
- If you want to start competitive nowadays, having cross-chain capabilities is crucial; DeFi users are increasingly operating across multiple ecosystems and in order to capture their interest the accessibility to new chains must be available
- While there may not be 100 chains being used in the future, for the chains that can scale and maintain network effects, creating interoperability will be of paramount importance which is where protocols like Swim will make a major impact
- We are heading towards a future where all the complexities of operating across chains are abstracted and handled on the backend to offer users the seamless access to opportunities across various chains
Fantom outlook
- NFT activity on Fantom is particularly interesting as it’s really been a bottom up movement with users & devs accelerating organic growth in the space and driving network effects amongst each other
- The work teams like Paint Swap, NFT Key, Potluck Protocol are doing on Fantom excites Juan and leads him to envision a very prosperous ecosystem as increasing amounts of capital starts pouring in to the NFT space on Fantom
- Swim is extremely excited to establish partnerships with leading protocols building on Fantom and help support their multichain efforts and initiatives in bringing more liquidity to the ecosystem
Swim outlook
- Before Swim, the ability to move native and liquid assets across chains was very limited and quite complex; understanding the existing pain points, Swim looks to offer an easy to use native asset bridge that eliminates the need of wrapped assets
- Focused on facilitating the movement of native assets in a secure and efficient way, Swim offers the ability to send and receive native assets with minimal slippage and complexity
- Fragmented liquidity and siloed ecosystems remain a prevalent issue within DeFi today and through our expansion and integration efforts, Swim looks to support all leading blockchains and protocols in their multichain efforts
Fantom’s Roadmap
- More immediate and short-term initiatives include changes to the middleware stack that can make a substantial difference in lowering gas fees when the network is facing congestion
- Longer term efforts include the roll out of the Fantom Virtual Machine and doubling down on security and reliability - the Fantom team is in the process of rolling out an automatic smart contract auditing engine
- Focused on allowing devs building on Fantom to focus on what they do best, without having to worry about becoming experts in the underlying code and security implications, which they believe will significantly increase dev interest and user satisfaction
Swim’s Roadmap
- In order to bring crypto adoption to the masses, a lot will rely on the ability to abstract the technical complexities away from the everyday user and offer the ability to pursue opportunities in DeFi, regardless of the chain they exist on, in a seamless and efficient manner
- The Swim team is working on lots of exciting initiatives ranging from expanding to new chains, integrating with leading protocols, enabling single-click swaps via our Propeller, and a native asset SDK to help facilitate further integrations and partnerships
- Swim is always looking for innovative solutions to problems that people are having in crypto right now and as a small and adept team we are able to address and solve problems on the fly, closely monitoring our user feedback and activity to drive constant innovation
Hope you found these notes helpful in understanding our most recent talk with Fantom and are definitely looking forward to having you join our next AMA!
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