Omo Swap, a bridge and aggregator across six blockchains that was developed by O3 Labs, has been selected to join Chainlink's BUILD incubation program! This marks a significant milestone for both Omo Swap and the cross-chain DeFi industry. Omo aligning itself with Chainlink and its globally recognizable brand is a strategic move that secures the startup’s future in the space. Chainlink is widely regarded as the market leader in decentralized oracle technology, providing secure and reliable data feeds to blockchain applications. By joining BUILD, Omo Swap gains access to its extensive network, expertise, and tech resources, enabling the O3 Labs team to further enhance their cross-chain DeFi bridge and make use of the tech being built by other projects in the BUILD program. This will undoubtedly help Omo Swap as they pave the way for their cross-chain bridge and aggregator model to help users safely and seamlessly swap across different blockchain networks.
With the increasing popularity of decentralized finance (DeFi) and the growing demand for interoperability via seamless cross-chain transactions, Omo aligning with Chainlink and their many blockchain based startups currently in BUILD makes perfect sense. Omo’s primary innovation is a model for cross-chain swaps that doesn’t require liquidity pools to be seeded with user assets. These types of liquidity pools from the last paradigm of cross-chain tech are typically incentivized with a project’s governance token and are vulnerable to attack. Instead, Omo provides a slippage-free bridge without liquidity pools that’s flanked by aggregators on both the source and destination chains that are connected to decentralized exchanges or DEXs. Such a model theoretically allows a user to swap any token, either onchain or across chains provided that their desired destination token has deep liquidity on the decentralized exchange. Luckily for users, Omo’s aggregators are connected to the decentralized exchanges with the deepest liquidity pools.
Upon integration of Chainlink's decentralized oracle network, Omo Swap will be able to securely connect to external data sources, such as real-time market prices without compromising the integrity of their platform. Further, they’ll be given access to Chainlink’s broad network of projects, supporters and builders within the space. In addition to the technical and networking benefits, joining Chainlink’s BUILD program brings immense credibility and trust to the Omo Swap brand. Chainlink's global recognition as a leader in the blockchain industry will help to instill confidence in Omo’s users and provide pathways to potential partners both within and outside the BUILD program. This alignment strengthens Omo Swap's position as a reliable and secure cross-chain DeFi bridge and trading platform, attracting more users and enticing institutional investors to explore the many benefits that Omo has to offer. Ultimately, Omo Swap joining Chainlink’s BUILD program signifies a powerful collaboration that will drive competition, innovation and growth within the cross-chain DeFi ecosystem. Omo’s indicated that they’re incredibly excited to leverage Chainlink's expertise and resources to further improve their platform and deliver unparalleled value to their users.
Omo Swap’s first campaign initiative as a member of the BUILD program will largely focus on their user community in the Arbitrum ecosystem as they follow the mandate of the O3 Labs DAO. O3 Labs previously received a large allocation from the Arbitrum foundation and their DAO has elected to use these resources to bring liquidity back to DeFi and the Arbitrum ecosystem in particular. This campaign is their first major step to delivering on that mission. Users interested in using Omo or details of the campaign should go to the Omo Swap Twitter (linked below) for more information!
Website: omoswap.xyz
Twitter: @omoswapx
About Omo Swap
Omo Swap is a leading cross-chain decentralized finance (DeFi) platform that enables users to seamlessly transact and swap assets across different blockchains. Powered by cutting-edge bridging technology, Omo Swap aims to bridge the gap between various blockchain networks and provide users with a secure, efficient, and transparent DeFi trading experience.