Cross-Chain Solution - ODX Labs is building an abstract liquidity layer for instant cross-chain swaps without bridging [1] - The solution involves depositing native tokens in audited vaults on Ethereum (ETH), receiving xAssets on ETH, swapping xAssets, and redeeming on another chain [1] - xAssets are 100% backed and usable for DeFi [1] xAssets - xAssets are backed 1:1 by real currency [3][4] - xAssets can be traded, used for farming as LPs, used as collateral, borrowed, or staked in vault strategies [3][4] - xAssets are minted/redeemed via validator signatures and redeemable anytime [4] Funding and Development - ODX Labs, part of SonicLabs' Innovation Fund, received 800 thousand $S [2] - A private alpha is running on testnet, but the mainnet launch is not yet announced [2] Risk and Potential - The industry is cautious about synthetic assets, but if 100% backed and audited, this could gain traction [2] - The solution has potential use cases in Real World Assets (RWA) [4]