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⛓️ Challenges & Benefits Of Building Multichain Protocols
LandX aims to become a multichain protocol with the main deployment on Ethereum mainnet and then horizontal expansion over time to in-demand L2 networks. While this comes with significant advantages, it also presents a set of challenges that must be reckoned with.
Benefits Of Multichain Approach
One of the main advantages of adopting a multichain approach for DeFi protocols is the opportunity to access new user bases. Each blockchain network boasts a unique ecosystem with diverse demographics of participants. Spreading across multiple chains allows DeFi protocols to tap into these various audiences and thereby expand their reach.
Additionally, the multichain model can lead to lower transaction costs. High transaction fees are one of the main issues when interacting on Ethereum mainnet. By leveraging networks with surplus block space, DeFi protocols can facilitate swifter and more cost-effective transactions, enhancing the overall user experience.
Multichain networks also help in diversifying risk. If a vulnerability or network wide technical issue causes a denial of service, the impact can be absorbed or mitigated to some degree due to the presence in multiple other chains. This can potentially increase the resilience of the protocol.
Challenges Of Deploying Across Multiple Blockchains
One of the core challenges of transitioning to a multichain network is the potential fragmentation of liquidity. Liquidity can be scattered across various chains, making it hard for protocols to provide high quantities of liquidity at any one place, which can lead to higher slippages and price variances.
Moreover, bridging assets across different chains can be technically challenging. Each chain has unique technical characteristics and standards. Ensuring compatibility and seamless interoperability across these diverse environments can require complex and resource-intensive solutions. In the past centralization issues around bridging infrastructure has lead to loss of funds from security breaches.
The challenges of creating a multichain protocol require careful strategic planning and strong technical execution. LandX is working hard to minimize risks and take full advantage of the opportunity to create robust multichain architecture.
🤝 Insrt Parntership
We're excited to share that LandX has embarked on an innovative partnership with @insrtapp - a collaboration poised to initiate a paradigm shift in the tokenized commodities industry.
Insrt is a protocol coupled with a decentralized application (dApp), designed with the vision of simplifying on-chain ownership and improving the productivity of assets.
The core functionality of the Insrt Protocol lies in providing a system that circumvents the need for an oracle to execute the real-time probabilistic distribution of assets. In essence, this technology allows digital asset owners to extract or unlock liquidity based on probability, rather than on the availability of capital.
Insrt has successfully launched its first version, ShardVaults, on the mainnet. ShardVaults offer users the opportunity to derive fractional exposure and yield through innovative collateralization strategies.
This association empowers Perpetual Mints to offer a diverse range of agricultural investments opportunities, thereby giving users an unrivaled experience at the intersection of commodities and decentralized finance.
Learn more about Insrt at https://www.insrt.fun
⚡Flash Seeds & Merch Giveaway
Dear Farmers,
We acknowledge your presence all over the globe and are committed to making it easier for you to connect.
We're introducing an opportunity that will not only make this connection easier but also rewarding. This opportunity will be available for precisely 48 hours. Earning is a simple, two-step process.
First, join the official LandX Telegram community, which is an excellent source of information and updates regarding our operations https://t.me/landxfin
Next, take a screenshot confirming that you have joined the Telegram group and share this in the Seeds channel of our official LandX Discord. Please ensure to include the hashtag "#StackSeedsTG" in your Discord post to make your participation count.
Once you've completed these steps, you can claim 4 seeds and an exclusive ticket. This ticket enters you for your chance to win one of ten prizes in our unique LandX Swag raffle, where you could win some of LandX's custom merchandise!
Please remember, this opportunity will run for a limited time of 48 hours. We look forward to welcoming you on the other side!
Warm Regards,
The LandX Team
🏦 stUSDT Set To Become First Billion Dollar RWA Protocol
The real world asset sector is growing fast as stUSDT looks set to become the first to exceed one billion dollars by TVL.
This proves demand for sustainable yield from outside the DeFi ecosystem.
Learn more about how LandX can help you diversify your portfolio with inflation hedged assets that offer yield based on real world production
Website & App: https://landx.fi
Twitter: https://twitter.com/landxfinance
Discord: https://discord.gg/landx
Medium: https://medium.com/landx
Telegram: https://t.me/landxfin
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