Embracing the Future of DeFi with LI.FI Protocol: Why WhichSwap.com Chose LI.FI as Its B2B Service Provider

WhichSwap.com
4 min readApr 10, 2023

As decentralized finance (DeFi) continues to evolve and expand, the need for a secure, reliable, and user-friendly solution for cross-chain token swaps has become increasingly evident. At WhichSwap.com, our mission is to provide the best possible experience for our users, simplifying the complex world of token swapping across multiple blockchains. To achieve this goal, we have chosen LI.FI protocol as our B2B service provider. In this article, we’ll explore the reasons behind our decision and the benefits it brings to the WhichSwap.com platform.

Why LI.FI?

LI.FI protocol offers a comprehensive set of features that align with our vision for WhichSwap.com. Here are some key reasons why we selected LI.FI as our B2B service provider:

Service Level Agreements

LI.FI understands the importance of supporting its partners throughout the integration process. With guaranteed service level agreements, we can rest assured that LI.FI will be with us every step of the way, ensuring seamless collaboration and smooth user experience.

Smart & Preferred Routing

LI.FI’s protocol intelligently finds the best route across bridges and DEX aggregators, enabling split and batch transactions for maximum efficiency. This advanced routing feature empowers WhichSwap.com to offer optimal swap solutions to our users, regardless of the blockchain involved.

Security & Reliability

LI.FI prioritizes security and reliability, regularly consulting with integration partners to optimize their algorithms and ensure the safety of users. By partnering with LI.FI, we can provide our users with a secure and dependable platform for conducting token swaps.

All-In-One Solution

LI.FI’s protocol is a comprehensive solution for on-chain swaps, cross-chain swaps, and combinations of both. It aggregates all the bridges, DEXs, and DEX aggregators, allowing WhichSwap.com to offer a complete and integrated swapping solution. This means our users don’t have to worry about navigating multiple platforms for their token swap needs.

LI.FI’s Thesis: The Future is Multi-Chain

LI.FI’s vision for the future of DeFi is centered around multi-chain ecosystems. Cross-chain bridging solutions will play a critical role at the infrastructure level, while aggregation will pave the way for mass adoption. By partnering with LI.FI, we’re embracing this vision and providing our users with a seamless, unified swapping experience.

Ecosystem & Developer Problems: Addressing the Challenges

DeFi users and developers face a range of challenges when it comes to cross-chain swaps, including:

  • dApps: Users often encounter new dApps on chains they don’t have funds in, resulting in significant friction in user onboarding. They have to research and find bridges to that chain to start using the dApp.
  • Yield Aggregators: Although better yields are often available on new L2/side-chains, users lack a secure and reliable way to transfer their funds.
  • Wallets: Multi-chain wallets aim to compete with centralised exchanges (CEXs), but they struggle to offer easy asset swaps like CEXs.
  • DeFi Protocols: DeFi dashboards, lending protocols, and yield farms on new chains create a demand for cross-chain swaps, but users must explore the ecosystem to fulfil this need.

Developers face their own set of challenges:

  • Bridges: There are too many bridges to learn about, making it difficult to keep up with the latest developments.
  • Immature Infrastructure: Immature bridges come with security risks, insufficient liquidity, and high maintenance overhead.
  • DEX Limitations: Bridges often don’t support a wide range of tokens, requiring additional DEXs and DEX aggregators for effective swaps.

LI.FI addresses these challenges by offering a comprehensive solution:

  • A Data Mesh of Cross-Chain Liquidity Sources: LI.FI creates a mesh of cross-chain liquidity sources, including cross-chain liquidity networks, bridges, DEXs, and lending protocols.
  • Seamless Swapping Experience: As a bridge and DEX aggregator, LI.FI can route any asset on any chain to the desired asset on the desired chain, providing an exceptional user experience.
  • Developer-Friendly Integration: LI.FI offers API/Contract level access through SDK, and a widget for developers to plug directly into their products, eliminating the need for users to leave dApps.

In conclusion, by partnering with LI.FI protocol, WhichSwap.com is better equipped to address the challenges faced by both DeFi users and developers. LI.FI’s all-in-one solution, secure and reliable platform, and commitment to delivering the best possible user experience make it the ideal choice as our B2B service provider. As a result, we can continue to simplify and enhance the token swapping process across multiple blockchains, making WhichSwap.com the go-to destination for seamless, efficient, and user-friendly DeFi transactions.

Authors: WhichSwap team + ChatGPT4

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WhichSwap.com

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