What's new and valuable Chainspot brings to the DeFi market?
Here you will know how Chainspot makes the lives of users and businesses easier and better
Last updated
Here you will know how Chainspot makes the lives of users and businesses easier and better
Last updated
Chainspot is the first project to fully implement the omnichain DeFi paradigm (kind of chain abstraction), leveraging a cross-chain native token standard powered by Asterizm alongside intelligent aggregation of liquidity and yield protocols across both EVM and non-EVM networks. This approach allows retail users via Chainspot’s frontend, as well as B2B partners via API/Widget, to access infrastructure that powers an omnichain DeFi experience.
Today’s blockchain market is vast, with numerous networks supporting liquidity and yield protocols that generate substantial annual returns (over $4.5 billion annually). However, despite the availability of various cross-chain protocols on both EVM and non-EVM networks, user experience remains primarily multichain. Users face increased network and exchange fees, juggle interactions across multiple projects, and are at risk of phishing scams while creating additional wallets for each network.
If a user has 100,000 USDT in BNB Chain and wants to open a staking position in a protocol on Solana, they currently need to complete a minimum of four transactions and visit several websites:
Wallet Download: Access a Solana wallet provider to create a compatible wallet.
Bridge Protocol Site: Bridge funds from BNB Chain to Solana.
Centralized Exchange or Liquidity Aggregator: Exchange some USDT for SOL to pay for Solana’s network fees.
DEX Protocol: Convert USDT received in Solana to SOL for staking.
Staking Protocol Site: Deposit funds to the staking protocol to receive LP tokens in Solana.
This complex, multistep process not only drives up costs and time but also increases the risk of user error and exposure to security threats.
If a user is familiar with liquidity aggregators, they can reduce the transaction count to three—an improvement, but still a limited one.
As a result, users end up paying several times more in blockchain fees just to open a DeFi position. Additionally, they often exchange assets at suboptimal rates, as they tend to use familiar protocols instead of comparing all available market options.
To manage positions across multiple blockchains, users must constantly switch wallets and monitor native token balances on each network.
These inefficiencies add up to over $10 million in annual overspending and losses.
Moreover, the majority of user fund losses today stem from phishing attacks—the more sites users visit across various protocols, the higher the phishing risk, especially in networks that are new to them.
To solve the issues described above and redefine user experience, Chainspot implements an omnichain DeFi paradigm (chain abstraction) with a unique architecture, integrating:
A smart liquidity aggregation engine across EVM and non-EVM blockchains.
A yield protocol aggregation module for both EVM and non-EVM networks.
A payload and callData assembly module for seamless exchange + deposit + wrap to omnichain LP token transactions.
A multi-network DeFi position management module with single-network gas payment.
An enterprise module with connectors to AML and accounting providers for compliance in fintech applications.
An on-chain loyalty program with a referral system.
An on-chain module for cryptographic payload integrity verification implemented from Asterizm smart contract abstraction.
One-Click DeFi Position Management: Open and manage DeFi positions across blockchains with just one transaction (on the user source chain).
Cross-Chain and On-Chain Swaps at Best Rate: Benefit from smart liquidity aggregation.
Auto-Reinvestment for Open DeFi Positions.
Stablecoin Cashback and Referral Rewards: On-chain loyalty program with stablecoin cashbacks for swaps and multi-level referral system.
AML Compliance (for B2B partners).
Transaction Reporting and Flexible API: For seamless Web3 and Web2 integration (for B2B partners).
With a single transaction signature from the source blockchain, users can not only swap assets on-chain or cross-chain but also open a DeFi position directly in the target network and yield protocol.
Up to 70% Savings on Gas.
Up to 1% Savings on Cross-Chain Swap Volumes.
Omnichain Position Management: manage your positions across multiple chains from just one chain.
Significantly Reduced Phishing Risk.
Example: If you hold 100,000 USDT on BNB Chain and want to open a staking position on Solana, Chainspot requires only one transaction on BNB Chain to complete the process, delivering the omnichain LP token to your wallet in BNB Chain while the protocol performs the following under the hood:
Exchanges USDT on BNB Chain to SOL on Solana at the best rate.
Covers the gas for staking protocol deposits.
Receives the LP token, wrapping it in a cross-chain native standard(omnichain) using enterprise-grade cross-chain messaging protocol Asterizm.
Sends the omnichain LP token to the user’s wallet in the source network (BNB Chain).
In this way, users save on time, token exchange rates, and network fees, while avoiding the need to create new wallets or worry about gas payments across different networks.
