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Introduction
What is Wido Router?
Wido Router, enabled by LayerZero, is a cross-chain deposit and withdrawal protocol. Wido Router allows users to deposit into vaults (or farms, pools, collateralised positions, NFTs and more) on different chains in a single transaction. The user does not need the destination chain native token to pay for gas.
Why do you need Wido Router?
As a DAPP developer, You need Wido Router to accept direct deposits and withdrawals in any token from any chain or rollup.
We are entering a multi-chain world. There are now alternate L1s (like Avalanche, Fantom or Solana), rollups (like Arbitrum or Optimism), Polkadot parachains etc.
The multi-chain world opens up opportunities for new DAPPs to emerge, and we expect many new exciting DAPPs to be deployed into different L1s or L2s in the coming years.
There are also new challenges in the multi-chain world we are entering. Specifically, each chain has its native tokens that the user needs to make transactions.
Chain tokens create friction for users wanting to deposit into DAPPs living on chains they have not used yet.
If you are a user and want to deposit USDC into a vault living on a chain you have not used yet, you need to:
- 1.Find a bridge
- 2.Bridge your USDC from chain A into chain B (i.e. Ethereum -> Avalanche)
- 3.Buy chain B native token (i.e. AVAX) and send it to your destination chain wallet.
- 4.Deposit USDC into the vault on the destination chain and pay gas in the destination chain's token (i.e. AVAX)
If you are a developer looking for liquidity, you want to access liquidity from everywhere – any chain or rollup. You want to make it frictionless for your users to deposit liquidity into your product. Wido Routers enables DAPP developers to receive direct deposits in any token from any chain.
Wido Router lets users deposit into any vault cross-chain without owning the destination native token to pay for gas.
How does Wido Router work at a high level?
The following is a high-level diagram of how Wido Router works under the hood.
Wido Router: Accept deposits from any chain or layer 2.
Wido Router is a network of smart contracts powered by Layer Zero. The detailed technical specification of the protocol is a WIP.
Demo
You can also see a demo video of Wido Router on the HackMoney 2022 showcase page. Note: it might be a little outdated, but it provides a good insight into how it works.
Wido Router demo at HackMoney 2022
What is next
WidoRouter won HackMoney 2022 and is currently under active development. We are working on initial integrations with partners, which will roll out shortly.
Wido Router will become the platform to travel the multi-chain web3 world:
- Allowing users to move their tokens anywhere in a single transaction
- Allowing DAPP developers to access liquidity from everywhere – any L1 or L2 – in a single transaction
Whitepaper
We plan to completely decentralise Wido Router and make it a fundamental building block of the multi-chain world that anyone can build upon or contribute to. We are working on a whitepaper to bring more clarity on how we get there.
Last modified 1mo ago