Alchemy To Power Socket, A Revolutionary Web3 Bridging Aggregator

Socket’s mission is to power truly multichain, interoperable apps. We’re thrilled to announce that to reach their ambitious goals, they’re partnering with Alchemy. 

Unifying the Multi Chain Ecosystem

Socket unifies the multi chain ecosystem by connecting chains and making it easy to transfer value between them. How do they do this? By aggregating liquidity across bridges including Multichain, Hop & Celr, and DEXs like Paraswap and 1 inch, so exchanging any token can happen with just one integration. 

Bridging 101 

Bridging is the process of transferring tokens from one network to another. By linking two blockchain networks, blockchain bridges allow dApps to get the benefits of both networks, e.g.,the scalability of Polygon with the transaction speed of Solana. 

But there are many bridging solutions to choose from, and it’s hard to understand the nuanced distinctions between each one. And further, bridging can be expensive - with gas prices that can sometimes outweigh the value of the overall transaction. 

After surveying the ecosystem, the Socket team decided Alchemy was the only complete developer platform that would allow them to seamlessly scale. 

Socket aims to solve the challenge of “how to choose a bridging solution”, by aggregating liquidity and data across bridges and DEXs - so developers no longer have to choose just one. This value prop makes Socket the easy choice for the multichain efforts of some major names in Web3, including Zapper, Zerion and Brahma. 

Socket realizes that with a product as in-demand as theirs, they need backend infrastructure that allows them to scale to meet the demand. That’s where Alchemy comes in. 

Socket uses Alchemy’s Supernode as the backbone for their entire bridging infrastructure, including fetching token balances, quotes and setting up watchers across chains that work blazingly fast.

And they’re excited about the full suite of solutions Alchemy provides. 

We’re thrilled about all there is to come for Socket and we’re excited to help them grow. Socket's one of many amazing projects building on Alchemy. Get started for free today.