Crypto lending aggregator FujiDAO integrates Connext Bridge to expand cross-chain functions

The FujiDAO app is already live on Ethereum and Fantom, and will be available soon on Polygon, Arbitrum and Optimism...

Crypto lending aggregator FujiDAO integrates Connext Bridge to expand cross-chain functions

FujiDAO, a loan aggregator platform that identifies the best rates on multiple blockchain protocols, announced today it has expanded its capabilities across chains thanks to its integration with Connext.

With Connext, developers have access to trust-minimized cross-chain communication to make blockchains composable. The Connext Bridge application is built on top of Connext’s nxtp protocol. Connext Bridge supports asset transfer between L2s and Ethereum Virtual Machine compatible chains.

The FujiDAO team designed a system that enables users to bypass the high fees on mainnet by offering a 1-click beam of their debt position (collateral + debt) to a new desired chain where they will enjoy cheaper borrowing rates. Connext is used to bridge the assets and data via xcalls:

“Connext is an excellent fit for the implementation of our cross-chain lending aggregation engine because of the minimized trust assumptions in their security model. We also love how all the complexity is abstracted in simple xcalls so we can focus on our business logic. We first met part of the team at ETHAmsterdam and have had a fruitful collaboration since then. It’s exciting to work with top-notch technologies, but it’s equally important to have a great experience with the people behind those technologies.”
– Boyan from FujiDAO

Connext + FujiDAO Benefits

FujiDAO’s objective is to make borrowing more accessible to users and become a piece of infrastructure that can make the market more liquid and fluid. The protocol achieves this by constantly monitoring borrow markets and, whenever there is a better rate, it automatically refinances the whole pool of debt.

As explained in their documentation, “the advantages of Fuji compared to interacting directly with a base protocol include…”

A cross-chain lending aggregator means better rates, cost savings, and more market efficiency.

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