DeversiFi, the first exchange to integrate StarkWare’s ZK-STARK technologyis the next dApp to move beyond its exclusive affiliation with Starkware and Ethereum and morph into rhino.fi, a gateway to DeFi, giving users frictionless access to the multi-chain world from a single app.
With an expanded focus, rhino.fi will include other blockchains including BNB, Avalanche, and Arbitrum; Ethereum layer-2 (L2) Optimism; and will be connected to the Cosmos and Polkadot ecosystems.
Background
Crypto dYdX derivatives exchangecurrently built on Starkware, recently announced that it will leave Ethereum and launch its own blockchain within the Cosmos ecosystem.
As rhino.fi (formerly DeversiFi) voices its need to expand into ecosystems outside of Ethereum, it’s clear that L2 networks like StarkWare are battling stiff competition from alternative Layer 1 (L1) chains that have gained popularity.
The recent emergence of new L1s like Solana and Avalanche, and Ethereum L2s like Starkware and Optimism, has created more choice for users. However, this has led to fragmented and complex user experiences, resulting in a severe lack of high-quality solutions connecting these isolated ecosystems and hindering mainstream adoption.
“We have spent the last 2.5 years solving the UX challenges of L2 and we are well equipped to meet the next challenge of solving the problem of fragmentation across multiple ecosystems. rhino.fi will provide an accessible, secure and simple gateway existing and new users to access the best that DeFi has to offer. rhino.fi is growing to be cross-chain, but that doesn’t mean we’re abandoning Ethereum L2 or StarkWare. As early pioneers, we know the value of this ecosystem. However, L2 adoption has big challenges ahead, and there are a lot of innovations happening elsewhere that we can adopt.”
– Will Harborne, co-founder and CEO of rhino.fi (formerly DeversiFi)