Arweave.news

Dojima Network’s Cross Chain Problem-solving Tool For Developers Set for Testnet

0 141

On a mission to build a tool that will remove impediments developers experience when working across blockchains, Dojima Network said at its AMA on Friday with over 184,000 community members that it would launch testnet in Q3 of this year and mainnet in early 2023. Its success is expected to amplify building applications in the ecosystem.

The founders, Akhil Reddy and Bhagath Reddy, decided to provide a solution to the persistent problem of developers being constrained to the ecosystem of the blockchain they operate, making it difficult to explore the services offered by applications domiciled on other chains.

There is no provision for developers to access the best of all the blockchain platforms, Reddy said.

Being able to access liquidity of tokens from all the blockchains and being able to interact with dApps from all other blockchains, said Akhil, mentioning some of the challenges developers face in crosschain operations.

“At Dojima Network, we are trying to solve this problem by providing developers a common ground where they could access liquidy from other blockchains and interact with protocols from all other chains[…]”

Dojima Tokenomics
Dojima Tokenomics

 

Dojima Tokenomics

 

This is not a new problem and although protocols such as Thorchain, Axelar and Router are striving to solve it, Dojima’s founders said their competitors do not provide an effective solution. A new player in the industry, Dojima Network has gambits it intends to deploy to solve more problems than its competitors’ solution of only providing token swap options.

Dojima solves the problem of accessing liquidity of different blockchains directly from their smart contract to develop cross chain dApps based on lending and borrowing, flash loans, yield farming, multi blockchain oracle problem and single language for all blockchains to access liquidity[… ]also solves the problem of message of problem passing between different chains and provides wrapped assets on different blockchain, Bhagath explained.

 

Dojima wallet design

 

On how Dojima is able to access the liquidity of other blockchains, Akhil said that a buffer layer has been created on Cosmos and Tendermint SDKs which are connected to all major blockchains. Along with this, it still provides pools to hold liquidity of native tokens and tokens of major blockchains.

The liquidity data will be signed by all validators at every end of the block and supplied to contracts on top of the middle ground – Dojima blockchain – to be accessed by smart contracts built by crosschain dApp developers, he said.

The product is currently in development phase while community expansion strategies will begin after testnet launch.

An alumnus of the Open Web Foundry and backed by 13 Web3 leaders including Arweave, Dojima is a recipient of an undisclosed seed round which it described as “successful and oversubscribed”.

We are happy with investors that we currently have from the crypto space considering the advice and partnerships that they offer along with capital, Bhagath said.

He added that the Network would consider investors from outside the crypto space, but this would have to meet a few requirements. For example, their values have to align, along with capitals and planning to hold hackathons at universities and Web3 communities to expand its community, creating awareness about cryptocurrency ecosystem.

At Dojima Network, we are building a robust platform to solve the problems faced by Web3 developers with the best possible user experience. That is what gives confidence to each of us at Dojima Network about our sustainable success, he also said.


Join our

Telegram / Discord / Twitter

Leave A Reply

Your email address will not be published.