Ethereum L2 exchange DeversiFi transforms into multi-chain gateway rhino.fi » CryptoNinjas

DeversiFi, the first exchange to integrate StarkWare’s ZK-STARK technology, is the next dApp to move beyond its exclusive affiliation with Starkware and Ethereum and is transforming into rhino.fi, a gateway to DeFi, offering 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 with the Cosmos and Polkadot ecosystems.

Background

Crypto derivatives exchange dYdX, currently built on Starkware, recently announced that it will leave Ethereum and launch its own blockchain within the Cosmos ecosystem.

As rhino.fi (previously DeversiFi) expresses its necessity to expand to ecosystems outside of Ethereum, it is clear that L2 networks like StarkWare are battling against fierce competition from alternative layer-1 (L1) chains that have increased in popularity.

The recent emergence of new L1s like Solana and Avalanche, and Ethereum L2s like Starkware and Optimism, has created greater choice for users. However, this has led to fragmented and complex user experiences causing a severe lack of high-quality solutions connecting these isolated ecosystems and hindering mainstream adoption.

“We’ve spent the last 2.5 years solving the UX challenges of L2, and are well-equipped to take on the next challenge of tackling the issue of fragmentation across multiple ecosystems. rhino.fi will offer an accessible, secure, and simple gateway for existing and new users to access the best of what DeFi has to offer. rhino.fi is expanding to be cross-chain, but this doesn’t mean we are abandoning Ethereum L2 or StarkWare. As early pioneers, we know the value of this ecosystem. However, L2 adoption has great challenges ahead, and there is plenty of innovation happening elsewhere that we can embrace.”
– Will Harborne, Co-Founder & CEO of rhino.fi (formerly DeversiFi)