In a recent episode of the SlateCast, Sunny Aggarwal, Co-founder of Osmosis Labs and Polaris, joined CryptoSlate’s Editor in Chief Liam “Akiba” Wright to discuss the future of cross-chain decentralized finance (DeFi), the rise of multi-chain ecosystems, and his new venture, Polaris. Aggarwal delved into the innovations within Cosmos, the role of Bitcoin in decentralized finance, and Polaris’s goal to unify trading across various blockchain networks.
Bitcoin’s Growing Integration with DeFi
Aggarwal started by discussing the evolving role of Bitcoin within the Cosmos ecosystem. He emphasized that the decentralized finance landscape is increasingly incorporating Bitcoin, which he sees as essential for a comprehensive DeFi ecosystem. “Bitcoin DeFi is continuing to grow and happen,” he said, referring to the expansion of DeFi layers, such as ThorChain, that bring Bitcoin into decentralized applications.
Osmosis, Aggarwal’s previous project, has integrated various Bitcoin bridges, including Wrapped Bitcoin (WBTC), NOMIC, and CKBTC. These integrations provide additional trading options for users and help expand Bitcoin’s use case in Cosmos. “Alloyed Bitcoin is live on Osmosis and is one of our most traded assets,” Aggarwal noted, highlighting how these new offerings have significantly increased activity within the platform.
Polaris: A Unified Platform for Multi-Chain Trading
Aggarwal’s latest venture, Polaris, aims to tackle one of DeFi’s greatest challenges: fragmented liquidity across chains. Centralized exchanges allow users to trade across multiple assets, such as Bitcoin, Ethereum, and Solana, on one platform, while decentralized exchanges (DEXs) have traditionally been limited by chain-specific liquidity pools. Polaris seeks to overcome this limitation by creating a platform that aggregates liquidity across ecosystems, allowing users to execute cross-chain trades seamlessly.
“On centralized exchanges, you can trade Bitcoin, ETH, and SOL all in one spot, but on DEXs, you need different sites for each, and that’s a terrible experience,”
Aggarwal explained. Polaris’s innovation lies in its user-friendly interface, which aggregates liquidity across chains and removes the need for users to manage separate wallets for each blockchain. Instead, Polaris leverages advanced multi-party computation (MPC) to allow users to trade with assets across ecosystems using their existing wallet, ensuring a seamless experience.
User Experience and Security: Key Priorities for Polaris
User experience (UX) and security are at the core of Polaris’s mission to provide seamless cross-chain trading. “The goal is to enable one-click trading across different chains,” Aggarwal stated. To achieve this, Polaris has integrated multiple liquidity aggregators, such as Jupyter, Rango, and 0xAPI, into a single platform, allowing users to access diverse liquidity pools without having to understand the complexities of each chain.
Security remains paramount for Polaris, with Aggarwal describing the MPC-based mechanism that Polaris employs.
“Private keys are sharded across eight validator nodes, and five out of eight nodes are required to authorize transactions,” he explained.
This setup protects users’ assets, ensuring that even if some nodes are compromised, the system maintains high security standards.
Expansion Plans and Multi-Chain Roadmap
Currently in alpha testing, Polaris has ambitious plans for expansion. Aggarwal revealed that the beta version is expected to launch early next year, starting with support for Ethereum, Solana, Cosmos, and Tron. The platform will continue to add new ecosystems each month, broadening access to assets across different chains. Initially, Polaris targets crypto-savvy users, but the team is working on UI improvements to attract Web3 newcomers.
“Right now, we’re focusing on getting feedback from experienced users,”
Aggarwal shared. As Polaris evolves, it aims to provide a simplified experience accessible to users at all levels, with future plans for mobile apps and easy-to-navigate interfaces.
“The Holy Grail is a platform where users can hold one key and seamlessly interact with dApps across ecosystems,” he noted.
A Timely Launch Amid Market Shifts
In light of fluctuating market conditions, Aggarwal expressed optimism about the timing of Polaris’s launch. He emphasized that the project aims to be well-prepared for a potential bull market rather than reacting to it midway.
“We want to be ready for the bull market, not just reacting to it halfway through,” he said, highlighting Polaris’s goal to capture a significant user base as the market gains momentum.
The SlateCast episode with Sunny Aggarwal provided a comprehensive look into the challenges and opportunities within decentralized cross-chain trading. Polaris stands out as a pioneering platform in the DeFi space with its focus on security, user experience, and multi-chain compatibility. It is positioned to potentially play a pivotal role in shaping the future of DeFi across multiple blockchain networks.
Episode Hosts
Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate.