Problem&Solution

Problem 1 - Difficulty of exchanging asset across blockchains

Currently, liquidity on the current blockchain ecosystem is fragmented in many different mainnets and it causes the difficulty and complexity of moving assets between blockchains.

For example, in order for a user to exchange polygon-based ERC tokens for Ethereum-based ERC tokens through Metamask Wallet, a total of three exchange steps are required.

1. Exchange Polygon ERC-20 token to Wrapped ETH in a Polygon DEX

2. Convert Wrapped ETH through a bridge

3. Exchange Wrapped ETH to Ethereuem ERC-20 token in an Ethereum DEX

Just to exchange tokens, a user need three complex steps.

Problem 2 - Different native tokens for gas fee

Different native tokens are required to pay fees through the process of transferring assets between different networks. For example, in order for a user to change an polygon ERC-20 token to a Ethereum ERC-20, three types of native tokens are needed as follows.

1. Matic tokens to trade on a polygon-based DEX.

2. Wrapped ETH is required to convert assets on the bridge

3. ETH is required to exchange tokens on Ethereum DEX

If the user does not have the native tokens needed, he/she either has to purchase the tokens from the centralized exchanges or P2P trading.

Problem 3 - CEX Problem

Even if you use a centralized exchange, there is a hassle of depositing tokens to an exchange that has gone through KYC, exchanging tokens, and withdrawing them again.

Solution

We conducted research and development to solve the UX problem, and developed PLEXUS, a service that can process all tokens on multiple chains with a single TX.

And since PLEXUS supports the ability to pay gas fees for all networks with destination tokens, users can swap between cross-chains without holding a separate gas fee token in their wallet.

PLEXUS enables users to pay gas fee with the destination tokens.

Pay the gas fee with destination tokens PLEXUS deducts the gas fee from the destination token and gives the remaining to the user.

Through this, users can conveniently exchange all tokens in PLEXUS without accessing and using individual DEX and multiple bridges one by one.