How LI.FI is Using Pocket Network to Boost Cross-Chain Swaps
LI.FI is the answer for cross-chain swapping, with its bridge aggregation protocol functioning across networks. Pocket Network has been supporting LI.FI in the quest to offer more opportunities for investors in a multi-chain scenario, bringing ease of use, security, and reliability. Discover how Pocket is boosting LI.FI’s cross-chain efforts.
LI.FI: Your Cross-Chain Experience, from Start to Finish
LI.FI defines itself as a cross-chain bridge aggregation protocol, enabling a full stack experience for bridging by aggregating providers while connecting them to decentralized exchanges of any type.
At its core, LI.FI is here to simplify the experience of bridging assets on different chains and platforms, allowing users to do so in a few clicks instead of losing time and funds by requiring several steps and different platforms.
LI.FI is the most straightforward way to enable cross-chain abilities in your application, whether through a customizable widget or by using the LI.FI SDK.
Applications (DApps), decentralized exchanges, wallets, yield aggregators, and more will find solutions at LI.FI that enable on-chain and cross-chain swaps in their own products while retaining users.
Solving Onboarding, Adoption, and Efficiency in Decentralized Markets
LI.FI envisions Web3 onboarding billions, not millions, of users in the future, becoming the de facto underlying technology of the main applications that everyone uses. For crypto and Web3 to welcome this type of mainstream audience, it has to solve their onboarding, simplicity, and efficiency issues.
To gain this adoption, applications in the Web3 world have to operate as easily as any Web2 app from a UX perspective, with their decentralized differentiators operating under the hood.
Currently, with the myriad of centralized exchanges and wallets, users have to go from one platform to another, conduct several transactions, and spend more time and money on fees to bridge assets and connect to DEXs. With LI.FI, that process turns into a few clicks.
The mainstream adoption of Web3 will be chain-agnostic, with tools like Pocket connecting different networks for apps like LI.FI, as protocols and applications of this sort become central actors enabling the shift to a decentralized world. This change will improve the experience for consumers while streamlining the work for developers.
Why do Decentralized Apps Need Optimized Web3 Infrastructure?
As a true cross-chain player, LI.FI relies upon data from several networks. Maintaining the reliability of this data is one of its key challenges and, at the same time, value propositions for users, according to its CTO, Max Klenk.
LI.FI has been using Pocket for several months, interacting with over 16 chains to facilitate bridging and swapping on behalf of customers.
What challenges do decentralized projects like LI.FI face when looking for RPC support and Web3 infrastructure in general?
In a chat with LI.FI, Max pointed out some bottlenecks:
- Many networks have inferior or limited rates for public RPCs
- Many RPC providers only support Ethereum or very few options for apps that need multi-chain avenues
- Centralized providers go against the DeFi motto, present single points of failure, and are quite expensive
How does LI.FI Benefit from Using Pocket?
Pocket directly tackles these issues.
For Max, Pocket has overcome all these challenges to provide a unique interface where LI.FI can monitor its data relays across several chains and ensure it is receiving the service it needs with maximum uptime (via the Pocket Portal).
The fact that Pocket offers the same service for multiple chains gives more flexibility for apps, as there can be spikes on some chains but not others, allowing for efficient management without the need to buy extra packages like with other providers.
Another key factor for Pocket’s attractive proposition for DApps is the decentralization of its network of more than 27,000 nodes. The distribution of node providers worldwide offers more guarantees for apps, as there is less risk of downtime and failure in the service.
How Pocket can Help DApps Navigate Web3
Pocket Network can help optimize the performance of DApps across all kinds of different segments, with its decentralized, reliable, and scalable RPC service.
Application developers can enjoy the free tier in the Pocket Portal, enabling up to 250,000 daily data relays, while the Pay As You Go plan enables a cost-efficient and scalable growth path, including an innovative service model that rewards developers with $POKT for paid service (and allows them to simply stake that $POKT for continued service in the future).
Pocket is also building new optimizations to its protocol to even further strengthen the quality of service for all users with its upcoming update, v1, while continuously expanding the number of supported blockchains.
If you’re a DApp developer looking to optimize your RPC infrastructure, make sure to get set up with service from our decentralized fleet of nodes in the Pocket Portal today.
Want to know more?
🗣 Follow Pocket on Telegram @POKTnetwork
💬 Join the Pocket community in Discord
🔗 Mint an RPC endpoint for your application
👾 View our governance discussions in the Forum