The main idea behind the whole of Web3 is decentralization. The model of centralization that the internet, and even the world, has operated on before now has shown just how dangerous unrestrained centralization can be.
As we've seen over history, single points of failures are part and parcel of centralization. These points of failure show just how fragile complex systems are, and how easy it is to destroy those systems.
Ironically, it's the same for crypto as well. Despite being the first truly decentralized industry, crypto is still hanging on to some vestiges of centralization. The most egregious example is perhaps the trusted centralized bridge. These bridges are created by a single governing entity and require users to trust them to hold on to their part of the bargain.
While those solutions have seemingly worked, there are no guarantees that they won't fall into the same systemic issues of centralization. These issues include single points of failure, risks of authoritarian control, and even negligence.
A user who wants to send an asset over to another chain and tries to do it over a trusted cross-chain protocol runs several risks. The first risk is that the smart contract they are signing might be fraudulent. Even if it's not fraudulent, it might be upgradeable, which means that contracts can be changed after it is deployed.
People who fall prey to such contracts won't get the wrapped tokens they want, and would simply be gifting their assets to mischievous players.
Secondly, they run the risk of market instability. By getting wrapped tokens from a centralized player, users are putting their trust in the issuer of that token. While these tokens end up being safe in the majority of cases, there are too many examples of them de-pegging from their original tokens. When that happens, users lose their assets, and fall victim to the uncertainties in the crypto market.
Thankfully, users don't have to go through the horrors of trusted cross-chain protocols. There is a trustless and permissionless protocol that protects users from the dangers of centralized authority. And the name of that protocol? InterSwap.
InterSwap is the foremost trustless cross-chain protocol and for good reason too. The first is the protocol doesn't permit upgradable smart contracts, so terms will remain terms until they are concluded. Secondly, liquidity providers have zero exposure to the fragility that may accompany some wrapped and synthetic assets.
The decentralized nature of InterSwap guarantees that it is the only market solution right now in line with the principles of Web3. It's decentralized, it's permissionless, and it's trustless. And it provides exactly the sort of benefits one would expect a decentralized solution to provide.
About Interswap
InterSwap is an omnichain AMM with unified liquidity built on top of LayerZero Network. InterSwap offers unified transactions across the chains permissionless cross-chain pool creation with a few clicks.