New Cross-Chain Choice for BTC: Symbiosis' Innovative Solution

Recently, a BTC cross-chain solution named Symbiosis has attracted attention in the industry. Compared to existing wrapped BTC solutions (such as WBTC, tBTC), Symbiosis offers a more convenient way for ordinary users to easily exchange native BTC directly for assets on other chains. This innovative solution is expected to become another important choice following Thorchain.

The cross-chain process of Symbiosis mainly includes the following key steps:

1. BTC Forwarder

After the user initiates a cross-chain transaction, the BTC forwarder in the Symbiosis system begins to work. It acts as a "monitor" that closely watches the transaction dynamics on the Bitcoin network. Once it detects that the user has successfully transferred BTC to the specified address, the forwarder will feed back to the system, triggering subsequent operations.

2. Relay Network

Next, the relay network takes over the process, acting as the "coordinator". It is responsible for transmitting information between different blockchains, ensuring that all operations remain in sync. The primary responsibility of the relay network is to confirm that the BTC to be cross-chain has been locked and to notify the target chain that the BTC is ready for the next step.

3. syBTC token

In the cross-chain process, because it is not possible to directly change the underlying mechanism of the Bitcoin network, native BTC will not be directly transferred to other chains. Instead, these BTC will be locked in a "vault" managed by a relay network within the Bitcoin network. Meanwhile, the system will mint a wrapped asset called syBTC on the target chain.

4. Target Asset Exchange

The final step is to exchange syBTC for the target asset required by the user on the target chain. It is worth noting that the current supported trading volume is still relatively small.

Overall, the implementation of Symbiosis may seem complex, but it actually follows a relatively simple "lock-release" logic. Its characteristic lies in adopting a more decentralized locking method and focusing on a very specific vertical domain. The goal of the project is to continuously expand the range of supported blockchains and assets, providing a more convenient way for BTC liquidity in a multi-chain ecosystem.

The vision of Symbiosis is to "activate more BTC," which is highly aligned with the current development trends in the blockchain industry. The project has already received $2 million in investment support from well-known institutions in the industry, demonstrating market recognition of its potential. With the continuous growth of cross-chain demand, Symbiosis is expected to play an important role in promoting BTC cross-chain liquidity.