General FAQs
What distinguishes Crosswise.Finance from other DEXs?
There are undoubtedly a plethora of DEXs operating on various blockchains in the DeFi sector. Crosswise.Finance is unique in several ways. For starters, it leverages substantial cross-chain liquidity to enable trading assets and transacting capital from a single platform. Traders may trade cryptocurrency assets without being restricted to a single blockchain for accessing funds and cryptocurrency assets.
Crosswise.Finance believes in being blockchain agnostic – which means that we aim to be a single platform that allows multiple different chains.
We are able to understand and identify the severity of fragmented ecosystems in DeFi and the issues that the world of DeFi is constantly facing – lacking in security, difficulty in scalability and synchronization, lack of integration and interoperability.
Crosswise.Finance is created with the intention to be a driving force in bridging the fragmentations between DeFi and CeFi, as well as within the decentralized financial ecosystem itself, becoming contributors for greater integration & interoperability in DeFi, thus pioneering and contributing towards the global acceptance, access and adoption of DeFi.
To do this, Crosswise.Finance is working on effectively implementing fundamental safeguards and security measures, cross-chain transactions, gas-less swaps, verified DEX listings, and scalable utility tools within our ecosystem.
What are the top features of Crosswise.Finance?
Staking to earn $CRSS – deposit supported tokens into the staking pools to accumulate $CRSS over time.
Yield Farming – Deposit supported LP-token pairs, and earn rewards from trading fees accrued as well as $CRSS emissions.
Swap: Initially you are able to trade BEP-20 tokens on the BNB Chain.
$CRSS Vault: Deposit your $CRSS to receive $sCRSS, our Shareholder Token, and earn from the profits of our platform.
Quick Swap: Crosswise DEX has a simple swap exchange for swiftly executing token exchanges with the least amount of fees and slippage.
Advanced Swap (Upcoming): Users can switch to a sophisticated exchange interface to employ trading tools such as limit orders.
Auto-Compounding on rewards – With the auto-compounding function, you no longer need to manually harvest and compound your rewards. This feature comes at a performance fee.
Mass Harvesting & Staking – Users may mass harvest or mass stake on the DEX in order to only utilize funds for 1 transaction instead of multiple separate transactions when performing functions manually.
How does Crosswise.Finance manage to establish a balance between speed, affordability, and user experience?
Speed, cost and user experience is a bottleneck for many decentralized platforms.
Ethereum for instance – is very slow in terms of transactions (On average, 15 seconds per transaction) and gas fees are exorbitant (double digit USD, sometimes even hundreds of dollars for complex transactions).
The user experience for lesser-known DEXs is still rudimentary and not as mature as that of Ethereum-based DEXs. The whole process of trading cryptocurrency remains complicated and not simply accessible or clear to many. By incorporating features of centralized exchanges, we want to make DeFi more accessible, less complicated, and widely embraced.
Crosswise.Finance has initially chosen the BNB Chain as the fundamental DEX layer to balance cheap fees, fast transaction speed, robust network resilience, and a relatively acceptable user experience.
What assets can I swap cross-chain?
As part of the BNB Chain ecosystem, Crosswise natively accepts BEP20 tokens, for the moment. Eventually, we plan to integrate blockchains such as Ethereum, Polygon, Polkadot, and Arbitrum in the future, to enable cross-chain interoperability from a single platform.
We will continuously integrate technology that support our aim of lowering fees, facilitating access to different cross-chain assets, and providing a more seamless user experience for cross-chain crypto trading.
What is Crosswise’s roadmap and plans for 2022 Q2, and Q3?
Our first product is launching in Q4 2022 where users can swap, stake and farm BEP20 tokens. We also plan to expand to Arbitrum as the first cross-chain network. The rest of Q4 2022 & Q1 2023 will be expanding our core DEX layer with more trading pairs, liquidity pools and supported wallets.
In addition, in Q1 2023, we will be focusing on launching limit order capabilities as well as instant cross-chain swaps. This will be a massive product launch as we continue to scale our Crosswise.Finance product offerings. We will also be integrating more cross-chain platforms in the future, such as Polygon and Fantom.
What is the $CRSS token used for?
The utility token powering Crosswise.Finance is $CRSS, and is used for various functions including:
Liquidity mining rewards for providing liquidity to $CRSS-pair pools
Staking into single-asset pools to earn $CRSS
Did you have a private sale?
No, Crosswise.Finance has never opened a private sale for private investors or VCs. We had initially opened a pre-sale to the public; the Crosswise.Finance pre-sale was self-hosted and exclusively available on our pre-sale dashboard.
Once we launch our token, users will be able to access the pre-sale page at presale.crosswise.finance to claim their tokens for up to a year.
We had intended to have only one pre-sale round. However, the first round was a massive success, selling out very quickly, and we received several requests for a second round. A community referendum was held on this issue, and a majority of more than 70% voted in favor of a second round.
As a result, the hard cap was raised from $1.1 million to $1.85 million, and an extra 1 million $CRSS were allocated to the second round.
A total of 4 million $CRSS tokens have been minted for the pre-sale, representing 8% of the max supply of 50 million.
Is the whole Crosswise.Finance team doxxed?
Crosswise.Finance consists of a group of seasoned DeFi visionaries who are fully doxxed and have been well vetted for proven experience and knowledge in the DeFi space.
You can find the whole Crosswise Core Team listed here. In addition, our team can be found active within the Crosswise Discord or Telegram (EN) channels, and are always happy to chat with the community.
Which exchanges or DEXs will Crosswise.Finance be trading on?
Crosswise.Finance will be solely trading on its own DEX. We would then list on centralized exchanges, as we are in discussions with Tier 1 and Tier 2 centralized exchanges all around the globe.
Is Crosswise.Finance audited?
Crosswise.Finance smart contracts are audited by TechRate. Check out the audit reports here: TechRate
What are the treasury funds used for?
The treasury funds are used to cover the costs of operating Crosswise.Finance, including development, marketing and other operational expenditures.
Is Crosswise.Finance protected from flashloan attacks?
Crosswise.Finance's vaults will be integrated with an anti-flashloan protection. The $CRSS token, Crosswise.Finance's native token is not susceptible to any vulnerabilities. Unlike susceptible tokens, the minting of our tokens is predetermined and cannot be changed in a single transaction. Ownership may not be transferred outside of the MasterChef contract.
I can’t find the answer to my question(s). Where or how do I receive additional support?
If you can’t find the answer to your question(s) in Crosswise.Finance's documentation, please feel free to drop in to the Crosswise Discord or Telegram (EN) channels, and someone will do their best to help you out!
Last updated