On Wednesday, multi-chain architecture network Komodo announced the introduction of 12 protocols on its non-custodial multi-currency software wallet and atomic swap-powered decentralized exchange AtomicDEX. The 12 protocols include Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum, and Optimism, the latter two being wallet-only. After the upgrade, users can exchange Avalanche tokens for Polygon, Ethereum for Binance Smart Chain (BSC), etc., and vice versa.
Unlike cross-chain capabilities, multi-chain enables users to access their cryptocurrencies without the use of wrapper or proxy tokens, potentially better security outcomes. Komodo CTO Kadan Stadelmann commented:
“Adding protocols like Polygon and Avalanche adds a whole new level of accessibility for users to make faster and smoother cross-chain and cross-protocol transactions, while still retaining custody of their keys.”
According to Komodo, the previous year, AtomicDEX integrated BSC and conducted the first native cross-chain exchange from BSC to a non-BEP-20 (BSC) blockchain. As a non-custodial wallet, users can hold funds or withdraw to external wallets at any time. AtomicDEX charges zero fees to market makers and 0.13% of the total transaction value to market takers.