Cumberland Labs Unveils SaaS API for Public Blockchains and DeFi Protocols

When Cumberland Labs sought a bridge between blockchains and DeFi protocols, it came up with its own universal API service.

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Cumberland Labs, the incubator arm of Chicago-based crypto trading firm Cumberland, has launched the beta version of a new API tool that could simplify the daunting task of connecting to blockchain and decentralized financial protocols.

Cumberland Labs told Cointelegraph that Cumberland, the business unit of DRW Holdings LCC, spends a considerable amount of time manually connecting to various protocols, one at a time.

The company couldn't find a tool to simplify these tasks and eventually created its own API service, expand.network, using its own developers and engineers from its incubator arm. The tool has been in testing since November and is publicly available in beta.

An API stands for Application Programming Interface and is used when one type of programming needs to communicate with another.

Capture expand.network beta interface screenshot. Source: expand.network

"We were exploring DeFi trading and looking for a tool similar to the ccxt library used for centralized exchanges, which could connect to any DeFi protocol or blockchain To our surprise, such a tool did not exist,” Tama Churchouse, chief operating officer at Cumberland Labs, told Cointelegraph.

The new solution aims to offer both read and write connectivity to major public blockchains and DeFi protocols, helping developers interact across multiple protocol APIs and software development kits (SDKs).

Startup Web3 seeks to solve an aging cryptography problem: inefficient cross-chain communication. However, it is far from solving the same problems as cross-chain solutions. According to its CEO, Demetrios Skalkotos, although the two "seem similar at first glance", they have different goals.

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