How SocketLL works
SocketLL aggregates all asset bridges & DEXs into a single meta-bridge & dynamically selects/routes the funds via the best bridge as per user preferences like cost, latency or security. Support for DEXs & DEX aggregators into our meta-bridge further extends its capabilities, allowing the easy movement of Token A on Chain X to Token B on Chain Y, with a wide variety of token support on respective chains.
Socket LL supports two flows for bridging :
- Single Transaction Bridging - Users can bridge tokens between chains in a single transaction on the sending chain. This flow however limits the number of tokens the user can receive on the destination chain to bridge-supported tokens since swaps aren’t performed on destination chain.
- Multi Transaction bridging - Users can bridge any token between chains via two or more transactions. This flow allows the user to bridge any token from chain A to any token on chain B. Generally, this flow involves two transactions :
- Swap + Bridge on source chain.
- Swap on the destination chain.
Socket LL is powered by an on-chain component and optional off-chain component :
- Contracts (on-chain)
- Backend Quote Engine + API (off-chain)
Socket’s backend quote engine identifies the best possible routes between chains for given tokens by tapping into liquidity data of DEXs and bridges. The Socket LL API powers the data flow to the frontend. It generates the bridging routes & transaction data in order to bridge. SocketLL’s smart contracts aggregate all DEXs & bridges as routes onto a single function call. This enables swapping + bridging tokens in a single click. Learn more about these in the sections below :