A Practical Example of how @0xSoulProtocol works over traditional lending protocol

Imagine a user with 20 ETH on Ethereum who needs USDC to participate in a yield farming opportunity on Avalanche. Without Soul Protocol, they would:

1. Bridge their ETH to Avalanche (incurring fees and waiting for confirmation).
2. Use the wrapped ETH as collateral on an Avalanche-based platform to borrow USDC.
3. Hope the bridging process remains secure and stable.

With Soul Protocol, the user simply:

1. Supplies their 20 ETH as collateral on Ethereum through the Soul platform.
2. Borrows the desired USDC directly on Avalanche.
3. Starts yield farming immediately, with no bridging required.

Soul Protocol handles the cross-chain communication behind the scenes, ensuring the ETH collateral secures the USDC loan seamlessly.

Soul labs is the Alpha ✨