Crosschain swaps
WOOFi is the first DEX that enabled one-click crosschain swaps by integrating LayerZero's crosschain messaging and Stargate's bridge liquidity.
WOOFi's cross swap router contracts wrap multiple actions of the crosschain swap into one, so the whole process is abstracted away from the users.
A crosschain swap transaction may include all or some of the following steps:
Swap asset A in the user's wallet to asset B in WOOFi on the source chain
Bridge asset B to asset C on the destination chain via Stargate (asset B and asset C are of the same value)
Swap asset C to asset D in WOOFi on the destination chain and send to the wallet instructed by the user
Users only need to initiate and sign one transaction on the source chain (the chain that the input token is on), and the output token will be delivered to the address designated by the user automatically. Users only need to pay the gas fee on the source chain once which will cover the gas fee of the operations on the destination chain.
When querying the crosschain swap, users will be prompted with the optimal route with the most amount of output tokens. It utilizes various bridging routes in Stargate including stablecoins, ETH and WOO. Additional routes through OFT or CCTP will be supported in the future too.
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