Decentralised crypto player UniFarm collaborated with Singapore-based Router Protocol to enable seamless transfer of tokens across multiple chains.
The company launched, ‘Setu’, which will enable transfer of tokens across various chains such as Ethereum, Binance, Polygon, Avalanche, and Fantom with 2 more smart chains to be added using Router’s SDK. Setu was conceptualised with the objective of helping projects seamlessly adopt new chains. ‘Setu’ offers risk-free staking at any chain endpoint along with the opportunity to earn rewards in ETH, MATIC, FTM, AVAX.
“We are thrilled to receive this developer grant from Router Protocol which is working at great lengths to allow developers to move liquidity across chains seamlessly. We are also excited to partner with Router Protocol to integrate their cross-chain messaging solution on Setu,” Mohit Madan, CEO, and founder, UniFarm, said.
“At Router, our vision is to make web3 truly chain agnostic. It’s possible only when exciting players like UniFarm integrate cross-chain infrastructure into their offerings to expand their user base across a multi-chain ecosystem. We believe in UniFarm’s vision and wholeheartedly support this endeavorwith more than just a grant,” Ramani Ramachandran, founder and CEO, Router Protocol, said.
“At UniFarm, we always try to come up with unique product offerings that can help the Web 3 ecosystem and DeFi projects; be it to raise money via our IDO Launchpad to providing additional utility to their token to help them scale up with our group staking solution and adding liquidity to their token via our Liquidity pool farming. Setu is another extension of our product offering in this direction. It not only helps projects add liquidity but coupled with our staking solution, one can earn rewards too every time a user does a transaction. Also, since Setu works on an SDK which is completely decentralised, developers would be able to create apps on top of Setu, giving project tokens more exposure,” Tarusha Mittal, COO, and co-founder, UniFarm, added.