Revolutionizing Liquidity Management with Stargate V2
In the rapidly evolving world of decentralized finance (DeFi), the liquidity of assets plays a crucial role in building dynamic and flourishing Web3 ecosystems. We are thrilled to announce that the liquidity transport protocol, Stargate V2, has integrated IOTA EVM, serving as a bridge to connect IOTA EVM with the broader Web3 space. This integration promises seamless cross-chain transactions, improved operational capabilities, and unified liquidity pools that enhance trading efficiency and reduce asset fragmentation often found in other bridge solutions.
🌐 Exciting news for the future of #DeFi! We’re thrilled to announce @StargateFinance 's V2 integration of #IOTAEVM. Get ready for reduced bridging fees, enhanced trading efficiency, and expanded cross-chain capabilities! 🔀Read all about it 🧵⤵️ 🔗https://t.co/RDyW6nkw1a pic.twitter.com/HiNlxkAtvX
— IOTA (@iota) June 20, 2024
Omnichain Support from LayerZero
Stargate leverages the advanced capabilities of LayerZero V2, an omnichain interoperability framework tailored for efficient inter-chain communication. This infrastructure allows applications developed with LayerZero to offer users fluid interactions with various blockchain networks and environments, significantly enhancing the user experience and operational efficiency.
Bringing Omnichain DeFi to Life
Stargate is a fully composable liquidity transport protocol, enabling users and dApps to transfer native assets cross-chain and access unified liquidity pools. Stargate V2 introduces several advancements and features, such as the Multi Transaction Model, which allows users to choose between paying the full cost for immediate execution of a transaction or paying a portion of the total cost by batching their transaction with others. This model reduces costs by 95% compared to Stargate V1.
Additionally, Stargate’s AI Planning Module dynamically adjusts fees and rewards to balance Stargate Pools across all chains without controlling funds or any assets. The new Hydra Extension enables the transfer of WETH, USDC, and USDT freely between all Hydra-enabled chains, making them globally redeemable to native assets on core Stargate chains.
A Bright Future for the IOTA Ecosystem
Stargate has dominated the Web3 interoperability space over the last 12 months, capturing up to 50% of the daily interchain transaction volume on several occasions. It has proven to be the most reliable and used bridge protocol in the space, opening IOTA EVM to a vast user base of advanced Web3 DeFi users.
Collaborating with the Stargate Foundation to bring this integration to life was a cornerstone of our EVM launch preparation. As Stargate V2 launched on May 29, 2024, IOTA EVM became the first chain to which the protocol expanded after its initial launch. With vastly reduced bridging fees, no need for liquidity pools, and the advantages of LayerZero’s OFT technology, Stargate V2 sets a new standard for multichain user experience and cross-chain execution.
The integration of IOTA EVM with Stargate V2 significantly expands IOTA’s cross-chain communication capabilities and provides new opportunities for dApps and builders to participate in an ever-growing, connected DeFi world.