Crypto lending aggregator FujiDAO integrates Connext Bridge to broaden cross-chain capabilities

FujiDAO, a mortgage aggregator platform that identifies the very best charges on a number of blockchain protocols, introduced immediately it has expanded its capabilities throughout chains because of its integration with Connext.

With Connext, builders have entry to trust-minimized cross-chain communication to make blockchains composable. The Connext Bridge utility is a constructed on prime of Connext’s nxtp protocol. Connext Bridge helps asset switch between L2s and Ethereum Digital Machine appropriate chains.

The FujiDAO workforce designed a system that allows 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 property 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 give attention to our enterprise logic. We first met a part of the workforce 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 important 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 to add collateral on chain A and borrow one other asset on chain B with the very best fee throughout a number of lending platforms because of FujiDAO’s routing system that selects the very 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 to transfer throughout chains seamlessly.

FujiDAO’s goal is to make borrowing extra accessible to customers and change into a bit of infrastructure that may make the market extra liquid and fluid. The protocol achieves this by continuously monitoring borrow markets and, at any time when there’s a higher fee, it routinely refinances the entire pool of debt.

As defined of their documentation, “some great benefits of Fuji in comparison with interacting straight with a base protocol embrace…”

Price optimization – reduce the curiosity paid by debtors
Economics of scale – pooling funds collectively scale back the transactional prices by sharing fastened prices
Time-saving – removing 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.

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