On Wednesday, Komodo, a multichain architecture network, announced the introduction of 12 protocols on its non-custodial multi-coin software wallet and atomic swap-powered decentralized exchange AtomicDEX. The 12 protocols consist of Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum and Optimism, with the latter two being wallet-only. After the upgrade, users will be able to swap Avalanche tokens to Polygon, Ethereum to Binance Smart Chain (BSC), etc., and vice versa.
Unlike cross-chain functionality, multi-chain enables users to access their crypto without the use of wrapped or proxy tokens, with potentially better security results. Kadan Stadelmann, chief technology officer of Komodo, commented:
“Adding these protocols like Polygon and Avalanche adds a whole new level of accessibility for users to make quicker and smoother cross-chain and cross-protocol transactions while still keeping custody of their keys.”
According to Komodo, the year prior, AtomicDEX integrated BSC and made the first-ever native cross-chain swap from BSC to a non-BEP-20 (BSC) blockchain. As a non-custodial wallet, users can hold funds or withdraw to an external wallet at any time. AtomicDEX charges zero fees for market makers and 0.13% on the total value of the transaction for market takers.