Cumberland Labs, which is the incubator arm of the crypto trading company based in Chicago, has recently launched the beta version of the new API tool that one could use to simplify the very arduous task of connecting to decentralized finance protocols and blockchain.
In an interview, the company informed Cointelegraph that Cumberland, the trading unit of DRW Holdings LCC, used to invest quite a considerable time where they would be connecting to various protocols manually, and one at a time. Naturally, the firm couldn’t find a tool that would help one simplify the tasks, and ultimately created the API service- using the developers and engineers from its incubator arm. The tool has been in a period of testing since November 2022 and is now available to the public in beta.
Cumberland Labs’ New SaaS API Will Help One Simplify Tasks
The Chief Operating Officer at Cumberland Labs, Tama Churchouse, stated that they were exploring the trading of DeFi and had sought a tool that was similar to the ccxt library which was used for centralized exchanges, and which would help one connect to any DeFi protocol or blockchain. But to the utter surprise of everyone involved, there was no such tool that existed. The newly released solution sought at offering both reading and writing connectivity to most of the major public blockchains and DeFi protocols, where it would help the developers interact across software development kits and multiple protocol APIs.
Cumberland Labs, a Web3 startup, also seeks at solving the aging crypto issue- which is the inefficiency in cross-chain communication. However, it is pretty far from solving the same problems as the solutions. According to Demetrios Skalkotos, the CEO, both seemed pretty similar on the surface- despite serving different purposes.
