Cross-chain DeFi lending has a new big player: @0xSoulProtocol

But who's $SO really competing with?

( ) Quick TL;DR

$SO unifies liquidity across chains

Unlike @aave or @compoundfinance, Soul enables native cross-chain borrowing

No bridges, unlike the common bridging model of many protocols

Even when they have an in-built bridge to the dApp, you'll find yourself spending gas money and waiting for the bridging operation to complete

That part is completely eliminated from Soul

https://t.co/q3Kbd194Hl

🔥 $SO’s buyback model adds value

Protocol fees fund $SO buybacks, redistributing as rewards

An example of what 'competitors' do:

Aave’s $AAVE relies on governance, which is not bad per se, but it can't create a strong flywheel for protocol's growth

Cross-protocol integration depth will need to match the likes of Compound and other blue-chip players

But if Hyperliquid showed something to the market, that's innovation's strength

The market is starving for better UX and UI in DeFi, and it will gladly bid on protocols making your life as a DeFi user easier

$SO’s governance gauges also add a nice Curve-like model to drive engagement up

The setup so far is good, let's see how $SO handles this market 👀