Cumberland Labs unveils SaaS API for public blockchains and DeFi protocols

Cumberland Labs, the incubator arm of Chicago-based crypto trading company Cumberland has actually released the beta variation of a brand-new API tool that could streamline the strenuous task of connecting to blockchain and decentralized finance protocols.Cumberland Labs informed Cointelegraph that the Cumberland, the trading unit of DRW Holdings LCC utilized to invest significant time linking to numerous procedures manually, and one at a time.The firm could not find a tool to streamline these jobs and eventually developed its own API service, expand.network using its own developers and engineers from its incubator arm. The tool has remained in screening considering that November and is available to the public in beta. An API represents application programming user interface and is used when one type of programming requires to interact with another. Screenshot of interface of expand.networks beta variation. Source: expand.network” We were checking out DeFi trading and looked for a tool comparable to the ccxt library used for central exchanges, which could link to any DeFi protocol or blockchain. To our surprise, no such tool existed,” Tama Churchouse, chief running officer at Cumberland Labs informed Cointelegraph.The freshly released option seeks to read both use and write connection to significant public blockchains and DeFi protocols, assisting designers to engage throughout numerous procedure APIs and software advancement sets (SDKs). The Web3 start-up looks for to solve an aging crypto issue: ineffectiveness in cross-chain communication. Nevertheless, it is far from fixing the same issues as cross-chain solutions. According to its CEO Demetrios Skalkotos, while both “might appear comparable on the surface”, they serve various functions. Related: Connecting DeFi: How multichain token systems can improve liquidity” Cross-chain services mainly facilitate the transfer of messages and tokens in between numerous chains. In contrast, expand.network offers connectivity to procedures and chains, using a more versatile and extensive solution for browsing the DeFi landscape,” he discussed. The low-code tool will support Ethereum Virtual Machine (EVM)- suitable chains including Ethereum, Binance Smart Chain, Avalanche, Polygon, Cronos, Arbitrum and Optimism along with non EVM-compatible chains like Solana, Tron, NEAR and Algorand. Upcoming support will be available for Aptos, Sui, Lido, LayerZero and StarkNet. The platform was developed and constructed by Cumberland Labs, which offered funding, resources, and consulting. If market conditions allow, the start-up may look for funding later this year. “When it pertains to seeking funding, our method is to target crypto seed and series An innovation infrastructure financiers, as well as prospective strategic financiers,” kept in mind Skalkotos. As the crypto area evolves, more capital is flowing into developer-oriented and interoperability solutions. In April, cross-chain messaging protocol designer LayerZero Labs raised $120 million to broaden its reach into the Asia-Pacific area. It had actually formerly raised $135 million in March 2022. Magazine: Heres how Ethereums ZK-rollups can end up being interoperable

Cumberland Labs, the incubator arm of Chicago-based crypto trading business Cumberland has actually released the beta variation of a new API tool that could streamline the difficult job of connecting to blockchain and decentralized financing protocols.Cumberland Labs told Cointelegraph that the Cumberland, the trading unit of DRW Holdings LCC utilized to invest substantial time linking to numerous procedures by hand, and one at a time.The company couldnt discover a tool to streamline these tasks and eventually created its own API service, expand.network using its own designers and engineers from its incubator arm. Source: expand.network” We were checking out DeFi trading and sought a tool similar to the ccxt library used for centralized exchanges, which could link to any DeFi procedure or blockchain. The low-code tool will support Ethereum Virtual Machine (EVM)- compatible chains consisting of Ethereum, Binance Smart Chain, Avalanche, Polygon, Cronos, Arbitrum and Optimism as well as non EVM-compatible chains like Solana, Tron, NEAR and Algorand.

Other Questions People Ask

What features does the new Cumberland Labs SaaS API for public blockchains and DeFi protocols offer?

The newly launched Cumberland Labs SaaS API, known as expand.network, provides both read and write connectivity to major public blockchains and DeFi protocols. This low-code tool supports Ethereum Virtual Machine (EVM)-compatible chains such as Ethereum and Binance Smart Chain, as well as non-EVM-compatible chains like Solana and Tron. It aims to streamline the process of connecting to multiple protocols, making it easier for developers to navigate the DeFi landscape.

How does Cumberland Labs' SaaS API differ from existing cross-chain solutions?

Cumberland Labs' SaaS API, expand.network, offers a different approach compared to traditional cross-chain solutions. While cross-chain services primarily facilitate the transfer of messages and tokens between chains, expand.network focuses on providing comprehensive connectivity to various protocols and chains. This distinction allows developers to engage more flexibly with the DeFi ecosystem, addressing inefficiencies in cross-chain communication.

What motivated Cumberland Labs to develop its own SaaS API for public blockchains and DeFi protocols?

Cumberland Labs was motivated to create its own SaaS API after struggling to find existing tools that could effectively connect to multiple DeFi protocols and blockchains. The firm invested significant time manually linking to various protocols, which highlighted the need for a more efficient solution. By leveraging its own developers and engineers, Cumberland Labs aimed to fill this gap in the market with expand.network.

What types of chains will the expand.network API support in the future?

The expand.network API currently supports a range of EVM-compatible chains and non-EVM-compatible chains. Future updates will include support for additional chains such as Aptos, Sui, Lido, LayerZero, and StarkNet. This expansion aims to enhance the API's versatility and utility for developers working across different blockchain ecosystems.

What are the potential funding plans for Cumberland Labs following the launch of their SaaS API?

Following the beta launch of their SaaS API, Cumberland Labs may seek funding later this year if market conditions are favorable. The firm plans to target crypto seed and Series A technology infrastructure investors, as well as potential strategic investors. This funding would help further develop their API services and expand their reach within the blockchain and DeFi sectors.