Cango (also known as Cango.fi) is a super aggregator that helps users find the best rates for cross-chain swaps. The dApp supports cross-swaps of stablecoins and native tokens.
By aggregating liquidity across DeFi, the application offers minimal fees and smart-routing of transactions. Cango is one of the first protocols to offer native token swaps across different chains.
In a single transaction, users can now instantly perform swaps like BNB on the BSC network for AVAX on the Avalanche network.
Announcing Exceptional Cross-Chain Support
Cango facilitates cross-chain cryptocurrency transfers. The aggregation of decentralized interoperability protocols is at the core of this project’s strategy.
As often mentioned, cross-chain transactions can be a tedious and difficult process. Numerous protocols and poor interfaces confuse or discourage users from going cross-chain. By combining the smart-contract layer of leading cross-chain interoperability protocols with a user-oriented application, Cango plans to bring more users cross-chain.
By interacting with the Cango interface, users can route cross-chain transactions through decentralized infrastructure. This removes the need to use a centralized exchange like Coinbase to onboard onto a new network. Cango announces itself as one of the first user-driven decentralized applications in this space with its refined approach to cross-chain transactions.
Leveraging DEX Aggregation
Users can also discover the same benefits for swaps of tokens within the same network by utilizing the Swap feature.
Cango pings multiple DEXs and DEX aggregators for pricing and liquidity. Once the system finds the best price, it uses this quote for its transactions. A popular example of this technology outside the crypto world is how travel booking apps work. These platforms generally aggregate the costs of flights to find the cheapest one for the users, and Cango applies this concept to the blockchain economy.
By aggregating other aggregators (like 1inch or 0x), the platform can achieve ‘super aggregation’ by comparing their prices against each other.
The platform can also split transactions across different sources, a trick to offer low gas fees and competitive prices.
About Cango
Cango was founded by a team that attributes the slow adoption of decentralized applications across new networks to the difficulties in navigating poorly designed cross-chain applications. The group spoke about how the lack of user-friendly apps can discourage people from fully exploring Web3.
Cango’s founders believe that this project will dramatically improve the current state of the cross-chain space. The DeFi world is growing, and Cango plans to be part of a exciting new generation of projects.
The team is dedicated to improving access to new chains, and has been busy building during one of the strongest crypto bear markets. This community-driven protocol is ready to launch and support interoperability with its innovative approach to cross-chain swaps.
Those who find Cango’s idea appealing can find more information on the project’s website and the social media pages: Twitter | Discord