We already have the most powerful crosschain infrastructure - XCM, it brings us the ability to build Interoperability between any parachains. The circumstance is that the same asset will exist in multi-parachain and there will be more DEX existing, both pallet-level and solidity/ink-level. In a foreseeable future, people will struggle with asset fragmentation. Building a kind of crosschain 1inch on the Polkadot ecosystem sounds good. What do you think?
Agree. Polkadot’s eco-project tokens need liquidity and more application scenarios.
I agree that the idea would be interesting and useful.
However, from what I understood: the direction XCM is moving is that it will be expensive and slow to move across chains. Not sure if this is going to materialize (considering it is the main selling point on Polkadot) - but just sharing 2 cents I have heard in dev chats.
Would be interesting to get e.g. Shawn’s thoughts on this
What would be ideal is if Statemint/mine had some DEX built-in. As DOT is the native currency, and because you can teleport to/from Polkadot this would provide the liquidity that parachain operators need, as well as an exit to exchanges for cashing out.
Some conversations around this topic happened in Polkassembly as well.
Sharing across → Polkassembly
I personally think XCM as a cross-chain approach is neither expensive nor slow, so far the only fee that needs to pay is to buy execution on the dest chain and the original tx fee on the source chain, from our experience, it’s not cost too much. And why I think it is not slow is that when we do cross-chain transaction between parachain, it usually takes 12~24s to get it in a block, however when we do some crosschain operation between other standalone chains like with Ethereum, we need to wait at least 10 -15 Ethereum blocks passed before we take action on another chain to avoid the potential fork, it almost 100-200s, that’s actually a little bit slow for us.