What is Skypools?
The one stop shop for DeFi and any-to-any coin swaps.
Announced in the initial Swingby whitepaper back in 2018, Skypools is the ultimate platform built on top of Skybridge. It utilizes an update to the Skybridge that allows it to construct complex transactions such as smart contract calls. With this feature, Skypools combines the bridging functionality of the Skybridge with existing platforms such as Uniswap, Aave, Pancake, and much more to provide a truly ubiquitous, one-stop-shop, for all of your DeFi needs. Oh yeah, it supports all chains that exist on the Skybridge (including Bitcoin).
How will Skypools change DeFi?
The crypto ecosystem is growing rapidly. In the last year alone, many Ethereum competing chains such as BSC, Solana, and Elrond have popped up, fueling innovation but making the decision of “where to store/use my precious coins” far more difficult. Each new chain that launches innovates in a slightly different way, whether the focus is on security, scalability, or privacy. In a truly connected cryptocurrency ecosystem, users should be able to quickly move between chains depending on their personal preference and the opportunities available.
That’s where Skypools comes in. In its final form, it will completely change the cross-chain interoperability game. You will be able to convert any coin to any coin regardless of what chain it is confined to and interact with all smart-contract platforms across all chains. The user experience will be made extremely ubiquitous thanks to the seamless bridging capability of Skybridge.
The wireframes look glorious…
Skypools development started after the launch of the recent Bitcoin to Binance Smart Chain bridge and there is a lot of work to be done. The Skybridge requires an update allowing Metanodes to construct complex transactions and an application for the frontend of Skypools needs to be built.
The Swingby superhero development team has made great progress and is on track to deliver Skypools before the end of the year. To give you a better idea of how it might look, we’ve included some sneak peeks in this article.
Performing any-to-any coins swaps will combine both the Skybridge and a DEX aggregated (similar to 1INCH) into a single frictionless transaction. Not only will you be able to use native assets such as Bitcoin, but your swap will be automatically routed through the most price-efficient exchanges.
We hope that you are as excited as we are for the next generation of Swingby and please make sure to stay in touch with our latest updates via our Twitter.
Thanks for reading!