TVL stands for Total Value Locked, the most prominent measure of the overall value of crypto assets deposited in a DeFi protocol. A phenomenal rise in all the DeFi protocols’ combined TVL over the past couple of years is indicative of the grand arrival of an all-pervading Web3 wave. But, how big is this wave in reality? Let us look at the numbers.
On January 1st, 2021, at the beginning of the previous year, the DeFi TVL was worth around US$18 billion. In less than one and a half years, that number has now confidently crossed the mark of US$200 billion, registering a growth of more than 10-times. The roaring advent of these protocols demands one thing. It asks all the protocols to be ready for expansion by becoming more adaptive, inclusive, accommodative, and expansion ready.
We at Symbiosis Finance have introduced two features that cater perfectly to these needs. Both are SDKs with their unique specificities. The first one is the Symbiosis Mobile SDK, and the second one is the JS SDK. SDK stands for software development kits. But, what purposes do these typical SDKs serve in our ecosystem? Let us have a detailed look at them.
Our mobile SDK is a multiplatform library. Its basic purpose is simple: creating applications that work both within our ecosystems and the larger world of Web3. To achieve this we use the Kotlin Multiplatform approach to simultaneously support the Android and iOS ecosystems.
On the ground, our SDK achieves its objectives by creating mobile applications. However, you can also use it on your desktop and run on back-end processes. The integration opportunities that our SDK brings help diverse stakeholders to expand their base. For instance, a non-custodial wallet can use to attract more users and increase the number of transactions. The SDK integrates seamlessly and helps conduct multichain swaps without leaving the wallet. The results you get as a user can be multifarious, starting from additional revenue streams to humongous co-marketing opportunities.
Our JS SDK, on the other hand, helps developers integrate the protocol into external applications. As a user, you do not need to have a nuanced understanding of Smart Contracts to understand how to work around with the SDK. It also helps with cross-chain swaps where you can exchange one token with another for tokens that are effective on different blockchains. Browser wallets can use our SDK to attract new users and get more traffic and revenue.
In the days to come, the collaborating potential of our protocol will expand further. We have plans to introduce a widget that you can add to any website.
With the wave of Web3 at our doorsteps, we are fully prepared with our integration opportunities to steer ahead at a pace carrying along as many industry stakeholders as possible.
Follow us on social media
Top comments (0)