Decentralized exchange DeversiFi has launched a cross-chain swap feature to enable DeFi users to transact across multiple chains.
The new offering aims to solve the problem where traders currently have to set up multiple wallets or bridges and pay huge amounts of gas fees on transactions between tokens.
The DeversiFi team, which claims to have 63,000 users, will roll out the cross-chain by first integrating Polygon. Avalanche, Optimism, BNB Chain, and Arbitrum will be incorporated afterward.
The network founder, Will Harborne, says he wants to address the issue by integrating multiple chains to enhance efficiency. Harborne adds that the users can purchase tokens on other chains without a bridge.
The announcement comes as more networks unveil cross-chain alternatives. Aava protocol recently launched its v3 update to incorporate cross-chain swaps.
The cross-chain platform has witnessed major exploits recently, including Ronin Hack, which led to a loss of $625 million.