PLEXUS, a well-known company specializing in cross-chain bridge aggregation, has recently made a significant announcement. According to the company, they are launching the Theta Algorithm V2 to kickstart a new era of cross-chain operations, aiming to improve user satisfaction. The official X account of the company revealed this exciting development.
Exciting Update! PLEXUS Introduces Theta Algorithm V2!
Enhanced Transactions:
Theta V2 leverages machine learning to optimize liquidity across different chains, taking into account fees, gas costs, slippage, and price impact to provide users with the best trading experience.
Experience faster, safer, and more scalable…
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— PLEXUS | We’re Hiring! (@plexus_fi)
June 5, 2024
PLEXUS Unveils Theta Algorithm V2 to Elevate User Experience
Furthermore, the company also shared a detailed blog post on Medium to explain the intricacies of this new initiative. In the post, PLEXUS mentioned that the project utilizes machine learning outcomes for transfers, considering To-chain, Middle-chain, and From-chain transactions. The Executor contract is used to hierarchically assess liquidity at bridges and decentralized exchanges, factoring in aspects like price impact, slippage, gas charges, and account fees to streamline the trading experience for users.
By processing a greater amount of data, the project becomes more efficient. Additionally, the platform highlighted the key improvements brought about by this latest initiative, including speed enhancements, user interface upgrades, scalability, and heightened security measures.
The project is expected to offer faster transaction processing speeds and employ advanced security technologies to safeguard user assets. Moreover, Theta Algorithm V2 will ensure better compatibility with various blockchain networks, supporting a wider range of protocols and assets. The user-friendly interface will make it easier for clients to conduct their operations seamlessly.
Initially, Theta Algorithm V2 will support transfers across up to eight chains, with plans to expand support to more chains in the future. PLEXUS will continuously monitor transfer stability and performance to determine the inclusion of new chains based on evaluation results.
Project to Expand Support for Additional Chains through Ongoing Monitoring
Chains that meet the company’s criteria for performance and stability will be prioritized for support, while those that do not meet the requirements will be excluded. PLEXUS emphasized that this approach underscores their commitment to meeting user expectations by providing an enhanced trading experience.