The addition of Arbitrum One is huge news in itself.
This is an ecosystem that houses some of the best GameFi platforms, yield aggregators and asset management tools in the entire decentralised universe.
And that’s just the start. Because Arbitrum isn’t just an ecosystem, it’s a scaling solution. So everything that’s available on Layer 1 can now be made available on Arbitrum, with lower fees and higher TPS.
Now you can access all Arbitrum’s hottest tokens straight from rhino.fi, and use them to make cross-chain swaps, pursue yield opportunities and make lucrative investments.
No complex bridges, no network switches, no native gas tokens: you can seize these assets instantly, as easily as making a same-chain ERC20 swap.
In fact, if you want to start swapping Arbitrum tokens X-chain without reading the context, go ahead.
But what’s really interesting about Arbitrum, from our perspective at least, is the amount of time it’s taken us.
When we opened our previous multi-chain portal, to BSC, it only took us 30 days. At the time, we said that some time in the future, we’d be able to cut this down to just 7 days.
Well, that time has come.
Yep, the Arbitrum expansion has only taken us a week, from initial scoping and discovery to QA and launch.
This proves what we’ve been saying for a while: that our system of multi-chain expansion is so fast, so repeatable, that we can add new chains to rhino.fi before any other aggregator has even realised it’s possible.
And so we can give you multi-chain as it was always meant to be: the freedom to access all the best chains at lightning speed. Not just the ones you’ve heard of, but the ones that are still to be discovered.
The ones where moonshots are everywhere. Waiting for you.
Why we chose Arbitrum as the next step for our DeFi aggregator
Long term, we want to bring you all kinds of chains on rhino.fi. Layer 1s, Layer 2s, side-chains, alts… the whole spectrum.
But first we want to add the chains that you, our users, have been demanding. Once we’ve done that, we can move on to the up-and-comers that no-one else has told you about.
And Arbitrum’s the perfect fit. Here’s why:
- The range of projects is ridic. We love the mix of active and passive investment platforms on there.
- Arbitrum is fully EVM-compatible. So anything that you can do on Ethereum, you should be able to do on Arbitrum: same security, just faster.
- Just like rhino.fi, Arbitrum is designed for rapid innovation. Arbitrum offers developers to build decentralised applications (dApps) in just five minutes, so we can expect to see more and more projects coming on stream over the next few months.
And because you’re on rhino.fi, you’ll be able to access all of them effortlessly.
So you can trade tokens from native Arbitrum projects like GMX cross-chain with 100s of different assets on Ethereum, Polygon and BSC (and you don’t need stablecoins to access the X-chain function btw: now you can do it with practically any asset you want).
Alternatively, if you prefer passive income, you can channel these assets into yield and investment opportunities with minimal fees, and balance out your dynamic trades.
Or, if you fancy shaping the future of rhino.fi, you can swap Arbitrum tokens for our own native token, DVF, and start proposing changes to the future of our platform.
Sounds wicked, right? Well, prepare to get even more excited…
Because we’ve proven we can add new chains in a matter of days, meaning that our rate of addition will get faster and faster.
We already explained the technology in our BSC blog, but here’s the TL;DR.
- We establish a liquidity outpost on the chain in question, and create a new smart contract allowing swaps to and from that chain (the core premise of our smart contracts is that we can’t touch your funds unless you ask us to).
- Once we’ve established the outpost, we use StarkEx, our scalability partner, as the central cog in the wheel. In other words, when you swap, your funds go to and from StarkWare, and they do the rest. You don’t have to touch your desired chain at all.
What this means is that
- You can do everything from rhino.fi: no need to switch networks or create new wallets. If you’re here, you’re there.
- You don’t need to worry about bridges. We take care of all that stuff in the background for you.
- You don’t have to pay fees in native gas tokens, so no more pointless swaps to arm yourself for the gateway.
In other words, you get web3 possibilities with a web2 UX, and you can access new chains with the same speed and simplicity you got when we were a same-chain DEX.
It took us months to build this system, but it’ll take us only days to roll it out to new chains.
So whether you tell us you want a particular chain, or we discover it ourselves (we’re traders ourselves, remember) we can bring it straight onto rhino.fi.
This is what we mean when we call ourselves a DeFi aggregator. We can bring you any opportunity in DeFi, so you don’t have to search for it.
In fact, our goal is to make DeFi searches obsolete. We want to be the last DeFi platform you ever use; once you’re on rhino.fi, you’ve got the whole of DeFi at your fingertips.
So, what’s next for our DeFi aggregator expansion
We’ve already started adding new chains to rhino.fi.
And while we don’t want to ruin the surprise, we can tell you they’re the ones you’ve been asking for.
And you won’t have to wait long for the announcement. In fact, we’re already writing it. Because our rate of expansion is just getting into top gear.
You’ve had the crypto winter. Now, watch us launch the DeFi spring.