Huobi Live: Discussion Summary
Following the groundbreaking announcement of the listing of $ROUTE on Huobi, on June 14, CEO & Co-Founder, Ramani Ramachandran, and Co-Founder, Priyeshu Garg, were invited to conduct a Live session with Huobi Global.
Huobi.com is the world-leading Bitcoin and Ethereum trading platform, providing secure and convenient trading services for hundreds of digital assets.
The conversation extended for over 40 minutes and touched base on pivotal themes like the vision of Router Protocol and its intersection with the evolution of cross-chain future of Web 3.0, Router Protocol’s current core competencies, and the co-founders’ reaction to the current bear market plaguing the entire Web 3.0 ecosystem.
If you missed out on the live session, don’t worry. While you can still view the entire session on YouTube, you can peruse this article to get a high-level summary of the comprehensive discussion that took place in under 5 minutes.
The session started off with Ramani explaining the reason why Router Protocol came into existence. Initially, the blockchain ecosystem was primarily supported by only one blockchain network other than Bitcoin; Ethereum. And just like how metro cities attract talent, jobs, opportunities, and innovation from all over the country, Ethereum was also the hub of every notable advancement in the Web 3.0 ecosystem. Consequently, not unlike a metropolitan city like Manhattan, Ethereum started to attract way more traffic than it could support. This leads to exorbitantly high gas fees and slower transactions. As a solution, multiple Layer 1 and Layer 2 networks came into existence to resolve the trilemma of Web 3.0; scalability, security, and decentralization. But this is progressively leading to the fragmentation of communities growing in independent silos. Hence, the next phase of growth for Web 3.0 is DApps that can seamlessly communicate between these siloed networks without the end-user worrying about the underlying complexities of cross-chain communication.
And that is what Router Protocol is trying to build; a chain agnostic Web 3.0.
Ram says that the current landscape of cross-chain is reminiscent of the dot-com boom of 1995 to 2000, where the narrative was far ahead of the product build-up. Similarly, the conversations, developments, and innovations at Router Protocol are essentially building the foundation for empowering developers to build seamless cross-chain products with excellent user experiences a few years from now.
Read more of Ram’s thoughts on his latest Twitter thread:
Priyeshu then started off with a live demonstration of Router Protocol’s swapping engine powered by our cross-chain messaging mesh. It currently supports 9 EVM Blockchain networks, including Ethereum, Polygon, BSC, Optimism, Arbitrum, Phantom, Avalanche, Harmony, and Cronos.
He showcased live in the session how the swapping engine works by conducting a cross-chain swap on the alpha mainnet. The mainnet operated on Router Protocol’s unique pathfinder algorithm that finds the best route to conduct the swap between any token on any integrated chains.
Priyeshu also explained how Router Protocol uses USDC reserves on both sides of the transactions to provide a seamless user experience. Furthermore, he also showcased Router’s explorer which provides live insights of all the trades that are taking place on the swapping engine on any given day. In fact, Router Protocol accounted for over $100 million in volume just last month.
And that is predominantly because Router’s lean TVL prevents it from being considered a honey pot for hackers. Ram also mentioned that TVL is not an ideal metric to measure the competence of any bridge because the competence of any bridge is determined by the number of vehicles that can pass through a bridge and not the number of vehicles that can be parked on a bridge.
Once the live demonstration was completed, the discussion shifted to the more broad use cases of Router Protocol pertaining to the recently announced SDK: CrossTalk Library.
The CrossTalk Library is a plug-and-play framework that gives developers the ability to develop native cross-chain Dapps or provide cross-chain capabilities to existing single-chain DApps. In fact, Router Protocol recently conducted a hackathon in Dubai where Router’s in-house and invited developers worked for 72 hours straight to come up with cross-chain products using the CrossTalk Library. A lot of promising projects were built — some of which will launch in the future.
Another offering of Router Protocol that was demonstrated during the session is the Router Widget. It is a completely customizable white-labeled solution for existing DEX’s and other DApps looking to offer cross-chain functionalities to their users on their platform. It leverages Router Protocol’s swapping engine to conduct cross-chain swaps without leaving the platform. Its UX is identical to the mainnet while its UI is almost completely customizable so that it blends in seamlessly with the platform’s existing interface. Check widget integration at TitanDAO .
With multiple developments like $ROUTE staking and integration of non-EVM chain currently in the pipeline, Router Protocol is relatively unbothered by the current bear market.
Three kinds of stakings are being worked on:- $ROUTE single asset staking, additional $ROUTE-USDC liquidity pairs, and bridge liquidity staking like that of $USDC.
In fact, Ram vehemently believes that the bear market cycle is the time when true innovation thrives, as there is a lack of the “shiny object syndrome” and teams huddle together to accelerate the growth of the ecosystem rather than find ways to make a quick buck.
So if you’ve been following Router Protocol, rest assured that the bear market will have absolutely no effect on development cycles. Check out the entire discussion on youtube at:
About Router Protocol
Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
Telegram announcements: https://t.me/router_ann