Introduction

Yanda is a DeFi protocol that uses off-chain components to access centralized exchanges’ liquidity.

Current DeFi protocols like DEXs, Bridges, or Cross-chain Swappers, are already linked with off-chain components - sometimes centralized, and sometimes distributed - in such a way that doesn’t justify their claim to be 100% decentralised protocol.

Considering the impact of centralised exchanges on the crypto industry, which as of November 2022 is over 90% of the total market volumes, the exclusion of CEXs’ liquidity from decentralized protocols seems not only unjustified, but also dangerous.

Accessing CEXs’ liquidity by keeping self-custody over funds not only provides a more democratic way of creating markets via the canonical order books, but also provides a highly compliant infrastructure that can scale globally with respect to cryptocurrency users and to all local regulations.

Yanda is born with the idea of making trading via CEXs more transparent and accessible via web3 wallets, keeping the custody of the cryptocurrencies as a responsibility for the owner of the assets. The use-cases deriving from connecting CEXs to DeFi are high in number and can revolutionize the entire cryptocurrency industry to make it more accessible, secure, and compliant.

Examples of use-cases that can thrive on Yanda are (but are not limited to) cross-chain swappers, network bridges, hybrid market pairs, on/off ramp solutions, stablecoin minting, etc.