Cumberland Labs has recently launched a beta version of its SaaS API to simplify connecting to blockchains and other decentralized finances (DeFi) protocols. Cumberland previously stated that the trading unit of DRW Holding LLC used to take considerable time to connect various protocols one at a time. However, when the firm realized that it could not simplify these tasks, it came up with the solution of developing its own API. However, the SaaS API was developed back in November and has been in the testing phase since then. The beta version of the API has just been released.
The Chief Operating Officer at Cumberland Labs, Tama Churchouse, highlighted how the firm was actively exploring DeFi trading and sought a tool identical to the ccxt library used for centralized exchanges. These would play a major role in seamlessly connecting to any DeFi protocol or blockchain, but unfortunately, such a tool did not exist. However, the recently released SaaS API will offer both read and write connectivity solutions to blockchains and DeFi protocols.
At the same time, it would also play a role in helping developers interact with a number of protocol APIs and software development kits. With the introduction of the new API, Cumberland Labs focuses on solving a lifelong issue revolving around crypto, which is the inefficiency in cross-chain communication. The firm still has a long way to go to solve the same issues as cross-chain solutions. They might seem similar on the surface but have varying purposes.
The Wonders of the Cumberland SaaS API
It is widely believed that the low-cod tool would seamlessly support EVM-compatible chains, including Ethereum, BNB Smart Chain, Polygon, Arbitrum, and many more. It is expected to support non-EVM chains including Solana, Tron, Near, etc. However, with the upcoming updates, support will be made available for Aptos, SUI, Lido, and others.
The platform was visualized and developed by Cumberland Labs, which provided funding, resources, and consultancy as all-in-one solutions. However, the firm might seek funding later this year, but that would depend on the conditions of the market. As the crypto market continues to develop, additional capital continues to flow into developer-oriented and interoperability solutions.