Let’s get into the new bits.
Swapping Zero to Relay
You can now start swapping your Zero to Relay. There are some restrictions on how fast the Zero to Relay gets swapped.
It’s 8:24 AM here, and the first round of Zero -> Relay has already depleted. Clearly, there are many people using this. I imagine the more adept are probably botting this process too…
Cross Chain Bridge
Relay’s new cross-chain bridge brings us yet another interface to move assets between chains. Allowing you to wrap and move assets between chains. Provided they’re supported by Relay.
The Relay bridge supports Avalanche, Ethereum, HECO, Matic, and Binance Smart Chain. With more set to launch over the course of the year.
The above networks bear heavy resemblance with those offered by Elk Finance, bar Fantom. Though, they’ve beaten Elk Finance to the mark with Binance Smart Chain.
Relay transfer fees
The fees aren’t that world breaking. But, they do admittedly transfer more than a single token. Which is a really important factor when comparing with the likes of Elk.
Transferring from Avalanche to Polygon, 0.7949 AVAX~. Not a bad amount. I have definitely seen worse.
But, the ETH transfer fees still remain quite high (somewhat unavoidable.) Though, nothing to shout home about.
If you’re looking to transfer value across chains, I’d still opt to use Elk’s bridge. And move ELK across chains. It is by far the cheapest. I’ll avoid dampening the Relay hype too much, though.
Interestingly, Relay doesn’t seem to have a DeX at present. Whereas Zero did, prior to the change.
Relay’s team have opted to link to QuickSwap. It’s an odd choice, especially when the team are so heavily involved with Zero. And doesn’t really spell much confidence over the future of Zero Exchange
On side of Zero, Relay is hosting a single pool. A pool of two wrapped Zero assets; zUSDT and zETH.
Somewhat underwhelming given the large run-up to launch. But, these things inevitably take time to build and progress. Besides, there are still farms on Zero if you’re interested.
The run-up was pretty hyped. And the team are no doubt a good team. Just, I felt Relay there would be more than what appears to be a copy of Zero with a new logo, token, and bridge.
Negatives aside, I’m probably gonna get myself a bag. Let’s see what the future holds for Relay. Congrats on the launch!