What is Bungee Exchange? What is the difference between Bungee Exchange and existing bridges? Let’s find out with Weakhand.
And for people to read the article below in the most effective way, people can refer to some of the articles below including:
- Bridges: Design, Trade-offs, and Opportunities
- What is Orbiter Finance? Orbiter Finance cryptocurrency overview
- What is Nomad? Nomad Cryptocurrency Overview
- What is LayerZero? LayerZero Cryptocurrency Overview
What is Bungee Exchange?
Bungee Exchange is a Bridges Aggregator. Bungee can be considered 1Inch or Paraswap for cross-chain transactions. By integrating both DEX and DEX Aggregators, Bungee Exchange allows users to trade cross-chain easily and efficiently.
Through Bungee, users can optimize the shortest and cheapest path for transferring assets between different chains, with the following criteria:
- The assets received in the final chain will be maximized
- Minimum gas fees
- Lowest shipping time
- Security
Bungee Exchange Difference
- Bungee integrates both DEX and DEX Aggregators for cross-chain trading.
- Bungee is a Bridges Aggregator.
- Users have many options for swapping their assets on the Bungee protocol to find the cheapest option.
- Through Bungee Exchange, users can move assets to any wallet.
- Bungee allows users to resolve insufficient gas fees on the destination chain when transferring assets using the Refuel feature. Refuel helps swap gas fees on any chain to the source chain and pay gas fees for the transaction.
Specifically: When a user makes an asset transaction from the Arbitrum network to Polygon but the gas fee on Arbitrum is insufficient or absent, through Refuel the user can exchange gas fees from another chain to the Arbitrum chain that Bungee supports. to make gas fees for transactions.
For example: nUsers deposit $10 worth of MATIC on Polygon, they receive $10 ETH on Arbitrum.
Bungee Exchange Development Roadmap
- Enhanced security.
- Optimize gas fees.
- Provide partners with on-chain analytics.
- Security audit.
- Handling errors.
- Time to move assets.
- Connect before gasLimits passed API.
- Integrate additional features: Swap + Deposit xToken + Borrow yToken
- Split transactions between bridges.
- Application enhancement cross-chain.
Core Team
Updating
Investor
Updating
Tokenomics
Updating
Exchanges
Updating
Bungee Exchange Project Information Channel
- Website: https://www.bungee.exchange/
- Twitter: https://twitter.com/BungeeExchange
- Medium: https://medium.com/bungee-exchange
- Discord:
Summary
This article aims to provide information to readers about Bungee Exchange, a bridges aggregator helps automatically select the best bridge/route and optimize for developer preferences such as cost, latency, or security.
Currently, Bungee is only running the Beta version and does not have a token yet. This could also be an opportunity for users to have the opportunity to receive Airdrop & Retroactive in the future.