The DeFi market is entering new territories following Donald Trump’s success in the US elections. Bitcoin hit a new high of $103,000 and the altcoin market saw huge returns with projects like Solana surpassing $280. While market participants celebrate huge returns, crypto gurus believe the market is still held back by the lack of cross-chain solutions.
Fragmentation leads to high transaction fees, regulatory challenges and market complexities. These issues are preventing the crypto market from mass adoption and are turning thousands of new traders away from the industry every month. Greater interoperability could be the key to further market growth and that is exactly what new projects like Elluminex are offering. Here’s why it could take DeFi adoption to the next level.
What is fragmentation?
Cryptocurrency fragmentation refers to multiple isolated pools of liquidity within the cryptocurrency market. This leads to several problems, including price gaps, high fees, and overall market inefficiency. This lack of a unified framework is currently hampering growth across the entire cryptocurrency market. This adds unnecessary complexity for new market participants who avoid investing in crypto due to complicated investment frameworks and options.
Without cross-chain solutions, exchanges are forced to operate independently. This can lead to price discrepancies in which different exchanges display the same cryptocurrency at different prices. In times of market turbulence, this can also illustrate market volatility and make it difficult for smaller market players to achieve the desired price.
How can cross-chain interoperability solve fragmentation?
Cross-chain interoperability allows independent blockchains to share information without a centralized body. This eliminates reliance on centralized bridges while providing secure transaction options.
By removing reliance on centralized bridges, interoperability protocols can offer lower transaction fees, eliminate price discrepancies, and better comply with global crypto regulations. Over time, this could accelerate the adoption of cryptocurrencies and help DeFi go mainstream.
Could Elluminex improve cross-chain solutions?
Elluminex is a new disruptive DeFi project that seeks to improve cross-chain solutions on the Toncoin network. With over 950 million active users, Ton is one of the fastest growing networks. However, it lacks connectivity with other blockchains, preventing it from further growth.
Elluminex introduces an innovative exchange with cross-chain options. It allows market participants to easily connect transactions between major blockchains at extremely low fees. Market participants can benefit from concentrated liquidity, low slippage, and advanced order types to maximize their returns. Additionally, the platform offers advanced security measures to prevent users from getting scammed and losing their wallets.
Through cross-chain bridge projects, traders can exchange assets between major blockchains such as ETH, SOL, and TON. All transactions are completed in seconds and fees are lower than most major exchanges. Additionally, Eluminex will look to introduce pre-market functionality allowing it to outperform traditional models used by Binance and Bybit.
The Elluminex ecosystem will use $ELX as its native token. $ELX tokens will be used for decentralized community governance and help support investor engagement. $ELX has a total supply of 350 million, half of which will be sold throughout the Elluminex presale. Of the remaining supply, 20% will be used for the ecosystem, 10% will be used for registrations, and the remaining 30% will be split between marketing, team tokens, and a buyback pool.
A robust token burning mechanism will be implemented for $ELX tokens, potentially creating a deflationary model. Over time, this could cause tokens to increase in value by creating a supply shock as tokens become scarcer.
Discover the first ever MemeVault with Crypto All-Stars.
With its pre-sale set to begin soon, speculators are keeping a close eye on Elluminex, with early market players expecting to make strong returns during the early pre-sale stages. With so much potential, Elluminex could revolutionize the TON network in the same way Jupiter revolutionized the Solana network, making it a very promising DeFi opportunity.
For more information on Elluminex (ELX), visit the links below:
Website:
Twitter/X:
Telegram:
This piece of content is intended for informational purposes only and should not be considered legal, financial, or investment advice. However, we receive a commission for sponsored posts and the author or Coingape News Media takes no responsibility for your personal financial loss. Additionally, our review methodology is comprehensive and based on extensive research analysis from our editorial team. We are committed to protecting our readers’ information and respecting our privacy policy. Please visit our terms and conditions page for further clarification on our services and full disclosure.
✓ Share: