Zero Exchange (ZERO) has been revamped into Relay. Relay is a multi-chain platform, allowing traders to reach multiple markets simultaneously. In simple terms, Relay bridges popular blockchains and facilitates transfers between them. The reach is possible by integrating cross-chain (technology that enhances the interconnection between blockchain networks) swaps into DEX, CEX (centralized exchange), DApps, and wallets. Relay aims to make cross-chain DeFi accessible to the masses.
As per its whitepaper, along with Ethereum, several other smart chains were emerging in an attempt to power DeFi. Most of the smart chains were innovative, yet the high fees and slow transactions made it difficult for users of the DeFi ecosystem. Also, numerous blockchains isolated user value, reducing opportunities. Furthermore, the demand for all tokens to be accessible between all blockchains became another problem in crypto. That is why, DeFi participants need the ability to move capital between chains with ease, security, and speed. RelayChain decided to solve the problems mentioned above by bridging DeFi and enabling projects like DApps, DEX, and CEX to use Relay seamlessly.
RelayChain offers two critical bridging features to users:
Apart from bridging features, Relay offers an effective bridging technology that adapts to the changing conditions of each blockchain and handles gas fees across all involved chains and wallets. Relay also provides a streamlined smart contract and tokenomics that supports Relay partners. Furthermore, Relay offers a participating community, insurance facilities for users, and a system for native asset conversion.
Since Zero transformed to Relay, the native token is also changed from ZERO to RELAY. However, existing ZERO holders are able to get access to RELAY tokens through an exchange of one RELAY for every one hundred ZERO tokens.
