Spectrum Finance is an open source cross-chain decentralized exchange (DEX). The main feature of Spectrum Finance is that we build it on top of the multi-chain network called Spectrum Network.
Spectrum Network is designed in such a way as to allow the exchange/swap of native assets (e.g. ADA → ETH, BNB → ERG) without wrapping.
DeFi problems that Spectrum Finance aims to solve
Classical DeFi applications like Uniswap have shown promising results in regard to features and decentralization, but also revealed essential limitations of the approach which most of the present dApps are built upon. Those limitations fall into two major categories:
- Low capital efficiency which is caused by Miner extractable value (MEV), arbitrage and liquidity segmentation;
- Poor user experience which is caused by high fees and long confirmation times (i.e. low throughput).
But this is not the most global problem of DeFi in general. When it comes to exchanging one native asset for another (for example ETH to ADA) we don’t have a decentralized enough tool for doing so directly. That tremendously increases the cost of the transfer (in terms of money and risk) because users have to use centralized (CEXes) and semi-centralized (bridges) tools as intermediatory to reach their goals.
The design of the Spectrum Finance protocol is built in such a way as to provide a secure, fast and cheap exchange of native currencies and tokens without any intermediary. The protocol is fully trustless and decentralized, meaning no one has to trust their funds to a dubious party.
About the team
Spectrum Finance was created by two developers: Yasha Black and Ilya Oskin. By building ErgoDEX, the first eUTxO DEX, we laid the foundation for our cross-chain solution development. In the process we also assembled a strong team and united a community of DeFi enthusiasts.
We envision the world where financial products are decentralised and as native and comfortable as traditional finance. That’s why we build Spectrum Finance.