Swim Protocol: Why we chose to build on Solana
Focused on offering users an easy and seamless way to transfer assets across blockchains at minimal costs, Swim aims to leverage Solana’s infrastructure, speed, and security to support us in delivering the best user experience possible. When building Swim Protocol, our team understood that in order to efficiently enable native asset swaps, we needed a high-performance blockchain that could help bridge assets cross-chain in a permissionless manner, with the ability to scale and handle high levels of traffic.
High throughput capabilities and growth
The Solana ecosystem witnessed tremendous expansion in 2021, as TVL increased over 7,500% to $11.5B over the year. As a low latency, high-speed blockchain featuring an innovative proof-of-history consensus mechanism, it’s easy to see what drew developers to Solana. With its ability to process up to 50,000 transactions per second with an average block time of 400ms and remarkably low transaction fees, Solana proved to be exactly what Swim needed to enable seamless interoperability between different blockchain ecosystems. Higher speeds enable Swim Protocol users to conduct swaps with unrivaled ease, providing our users with the best cross-chain experience.
Along with being a high-performing blockchain, the number of hallmark projects in Solana’s ecosystem has experienced rapid growth over the past year, notably Raydium and Serum. As the only native asset route to Solana, Swim’s long-term trajectory involves various partnerships and integrations with other existing DeFi protocols aimed to increase Solana’s interoperability with other chains. We believe that collaboration is key to ecosystem growth and the increasing number of blue-chip projects on Solana provide the opportunity for many exciting integrations and partnerships with Swim Protocol!
Existing Wormhole Technology
Another crucial advantage that made Solana the right choice for us was accessibility to Wormhole’s technology which is built on top of Solana. With Wormhole, a Proof of Authority bridge, Solana features a token bridge that allows assets to cross blockchains in a secure and decentralized manner. Wormhole guardians are selected by Solana and borrow trust from the main chain, having a comparable level of security as the main chain itself. Security is an integral part of any bridging experience and we felt it was necessary to ensure safe transactions as a vital first step in creating the protocol. Our team believes that Wormhole will likely be the most performant bridge, in terms of speed, while maintaining a robust degree of security. Additionally, an advantage of Wormhole is that it will likely grow beyond the currently supported chains to include other blockchains. Swim will in turn grow with each new iteration of Wormhole, increasing our protocol’s functionality.
Our Final Thoughts on Solana
To conclude, the reasons we decided to build our protocol on Solana include:
- High throughput and transaction speeds
- Remarkably low cost of transactions
- Highly scalable network
- Strong community and team
- Sustainable and eco-friendly blockchain
With all this in mind, our team couldn’t be more excited to have built a protocol that helps break down the barriers between all of the siloed ecosystems while enabling Solana, the fastest and cheapest chain, at the center.
Swim is a multi-chain AMM for native assets, designed to make bridging as easy as possible. Our protocol eliminates the need for wrapped assets by allowing users to swap from a native asset on one chain to a native asset on any other supported chain. Swim’s solution reduces the barriers faced by users when performing cross-chain transactions, allowing for true interoperability between various blockchain networks. Through integrations, Swim aims to help other protocols enable multi-chain composability.