Impact (IM)

What is Impact

Impact is a cross-chain dex/bridge for SVM chains that aims to bring liquidity to new svm-based chains from other chains, Impact tries to solve issue of low liquidity when a new svm chain is live. The ultimate goal of the product is to be a bridge for all SVM chains, where it works without token wrapping and works by maintaining pools of liquidity for supported tokens on each blockchain. Incoming tokens go into the pool and the value of those tokens is sent via messaging protocol to another chain where it is converted back into tokens for payment to the user. In detail, when a user sends tokens through Impact, the following happens:

• Bridge exchanges the incoming tokens for their dollar value in the token pool for that particular token.
• This value is sent via the underlying messaging protocol to the destination chain
• The Bridge contract on the destination chain exchanges the dollar value for the tokens in the liquidity pool and sends them to the recipient

Options for using the bridge:

• Decentralized lending and borrowing: By moving assets from the A chain to the B chain, users can use their tokens as collateral on DeFi's lending platforms, which offer much better opportunities on the B chain.
• Multi-chain investment strategies: investors can diversify portfolios with multi-chain investment strategies, facilitated by a seamless cross-chain bridge.
• Cross-chain staking: Bridge makes it easy to cross-chain staking and find different income opportunities across different chains.
• DEX trading: asset pooling allows users to access decentralized exchanges (DEX) on different blockchains, increasing flexibility and trading opportunities.
• Gaming and NFTs: bridges enable the transfer of gaming assets and NFTs between blockchains, expanding their use and exchange across different gaming ecosystems.