Stargate Bridge – Not like the others

Published by AVAX on

We have already covered the Top 5 Bridges on Avalanche, however, in s few months since then, the landscape of cross-chain bridging changed quite noticeably, mainly due to the arrival of the Stargate Bridge.

Stargate is an omnichain bridge built on top of the Layer Zero protocol that currently connects 7 EVM L1 and L2 chains (Avalanche, Ethereum, Fantom, Polygon, Arbitrum, Optimism and BSC).

It is currently the biggest cross-chain protocol and 4th largest bridge in terms of TVL (behind only WBTC, Multichain and Wormhole), boasting more than $2.8 million in locked value (of which $554.12M is on Avalanche, second only to Ethereum) and allowing users to seamlessly transfer their coins (USDC, USDT and STG tokens supported) from one network to another with minimal fees (~0.05% + gas).

It achieves this by using a novel Delta Algorithm, which allows transacting in native assets, is scalable to large numbers of supported chains and is highly composable. You can read their whitepaper to learn more or check the picture below for an example of a bridge operation.

Even if you are not looking to bridge any assets, Stargate still must be useful as it provides > 9% APRs in their native STG token for their single-sided liquidity providers on Avalanche.

If you want to learn more about Stargate and their innovative approach to bridging you can check their website and docs and happy bridging/farming to you!


Categories: DEFI_NEWS