SwapKit SDK is an open-source suite of cross-chain tools designed to simplify integration across the THORSwap tech stack. With SwapKit, any dApp can become multi-chain with fewer than 100 lines of code. The SwapKit APIs offer support for THORChain, Chainflip, Maya Protocol, and over 11 DEX/aggregated liquidity sources. In addition, SwapKit provides streamlined affiliate fees, enhanced quotes and gas pricing, robust modules for wallet connectivity, a powerful custom widget, and smart routing via DEX aggregation, enabling swaps between 5,500+ crypto assets across 14 blockchains in a single transaction.Last week, we caught up with the Director of Communications from SwapKit, paperX, to find more about the platform. Here’s what we learned.

What is SwapKit and how did it come into being?

SwapKit is a powerful SDK+API solution enabling native cross-chain swaps to 15+ Chains and 6K+ Assets including Native Bitcoin.SwapKit was developed by contributors at THORSwap, the flagship interface of THORChain. After years of developing and maintaining a battle-tested infrastructure, we saw the potential to help other developers and protocols easily integrate cross-chain services into their products via an easy-to-use Software Development Kit.

What problems does SwapKit seek to solve?

SwapKit abstracts the complexity and optimizes integrating cross-chain protocols with a battle-tested infrastructure for cost-effective, enterprise-level performance and streamlined monetization.We specialize in helping protocols easily integrate THORChain/Chainflip and Maya protocol cross-chain swaps in as little as 100 lines of code.

What can users do with SwapKit and how does it empower developers and businesses?

With SwapKit’s powerful Typescript/Javascript SDK, any developer can easily build cross-chain solutions with key features such as multi-chain wallet support, modular installation, advanced configurations and affiliate monetization.SwapKit’s APIs provide numerous endpoints enabling developers to fetch and execute quotes from THORChain, Chainflip, Maya Protocol and DEX aggregation to 11+ DEXs and aggregators. Also supported are important features such as gas pricing, token info/lists, gas history, cross-chain transaction tracker, providing liquidity/earn, lending, and much much more.Essentially, SwapKit empowers any team to build multi-chain products without the hassle of building and maintaining infrastructure, so they can focus on their core product offering and market fit.

What are some of the risks associated with using DeFi protocols and how does SwapKit mitigate them?

SwapKit is built up on the best cross-chain solutions in the industry, focused on security, self-custody and decentralization. We focus on single-transaction cross-chain swaps that are non-custodial, this mitigates the need to rely on centralized entities, third-party brokerage, wrapped tokens, or traditional bridging.The result is users can truly embrace the Web3 multi-chain present, utilizing native assets on various blockchains, whether UTXO, EVM, or totally unique in design. SwapKit ensures protocols are able to offer their users are able to move their assets with ease between the chains in a decentralized manner via their own wallets.

What are the benefits of using THORChain, Chainflip and the Maya Protocol?

Through powerful consensus-driven methodologies such as Threshold Signature Schemes, protocols such as THORChain, Chainflip, and Maya can execute cross-chain trades through a decentralized AMM model maintained by a permissionless validator network of hundreds of nodes around the globe.

Can you tell us a little about the recent integration with BitPay? How does it work and what will it enable users to do?

With the integration of SwapKit, BitPay users can now access THORChain’s powerful cross-chain swap functionality, enabling decentralized, trustless swaps between native assets across multiple blockchains. This means users can swap assets like Bitcoin, Ethereum, Bitcoin Cash, Dogecoin and Litecoin directly within the BitPay app, without the need for intermediaries or centralized exchanges.In addition to THORChain swaps, BitPay users will benefit from enhanced liquidity through DEX aggregation. SwapKit’s DEX aggregator sources liquidity from multiple decentralized exchanges on Ethereum, ensuring that users get the best possible rates on their trades.

Are there any success stories about developers or businesses that you can share with us?

Two areas we’ve seen great adoption of SwapKit are wallets and DeFi aggregators. For wallet interfaces who are multi-chain/adopting multi-chain support, offering decentralized cross-chain swap services directly in-app is a no-brainer. Other than BitPay, we’ve also helped leading wallets such as OneKey, OKX Wallet, Edge, KeepKey, Ctrl (previously XDEFI), Ethos, and more add cross-chain support, with many more to be announced.Many Web3 bridge/cross-chain aggregators have also integrated SwapKit to tap into the unique routes we provide as well as support for Native Bitcoin, this includes industry giants such as LI.FI (and Jumper Exchange), OpenOcean, as well as Swing, Plexus, and more.In the words of Paul Puey, Edge Wallet CEO & Co-founder: “SwapKit was integral in enabling Edge to provide THORChain DEX aggregator functionality with minimal effort. Saving Edge, several man months worth of engineering work.”

What does SwapKit imagine for the future of DeFi?

SwapKit believes crypto’s multi-chain future has already arrived. Unfortunately, with the rise of many new innovative blockchains, user bases and communities become increasingly siloed and liquidity fragmented. Our goal is to become the go-to solution for all protocols to provide users with services that are interoperable across all blockchains.

Is your target audience Web3 native users? If so, is there any plan for onboarding non-Web3 natives?

SwapKit is built for protocols and business of all sizes and industries. Our APIs can easily be used as backend infrastructure for traditional companies also. We have a core focus on self-custody and will be working with partners and implementing technologies such as account abstraction and memo-less swaps so that the user experience and onboarding process is as frictionless as possible for Web3 and non-Web3 native alike.

Thank you.

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