Rubic X Stargate: Better Rates and Liquidity for Stablecoins and Native Assets
Rubic is tirelessly building the blockchain’s present and future interoperability. Today, we’ve taken another step forward and completed the integration of the Stargate bridge. Now we can offer our users even better cross-chain composability and unified liquidity!
What is Stargate?
Stargate is a fully-composable cross-chain bridge protocol built on LayerZero, which enables native asset transfers between different blockchain networks.
With Stargate, users & dApps can transfer native assets across chains while accessing the protocol’s unified liquidity pools, with instant guaranteed finality.
In the graph below, you can see Stargate’s numbers and activity over the last month:
To gain more information about Stargate, check out their dashboards below:
Available Networks and Tokens
At any time, you can explore Stargate’s pools and gain insight into the liquidity transport protocol’s activity across 7 chains here.
Currently, Stargate connects Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and Fantom, enabling users to swap assets 1:1 across all 7 chains. For example, you can swap USDC on Ethereum for USDT on BNB with a 1:1 ratio.
Stargate has unified stablecoin liquidity. You can swap any of the following stablecoins via any of the seven chains on which Stargate is deployed:
Stargate Fees
Stargate Protocol Fees are deducted from the amount of stablecoins to be transferred. All gas fees are collected in native tokens from the source chain.
The total amount shown in the notification window includes the following fees:
- Gas fee on source chain
- Gas fee on the destination chain
- Gas required for cross-chain transfer
- Native token airdrop on the destination chain if applicable (only when the token amount runs low on the destination chain)
Please bear in mind that gas constantly fluctuates.
Rubic X Stargate
Rubic has integrated the Stargate bridge on all 7 chains supported by Stargate: Ethereum, BNB Chain, Avalanche, Polygon, Atbitrum, Optimism, and Fantom.
Rubic users can swap native assets across chains on Stargate with a single transaction. For example, users can swap USDC on Ethereum for USDT on BNB, with better rates and faster transaction times.
The most outstanding feature of Stargate is its usage of LayerZero’s ability to transmit information. This helps to connect each blockchain’s funding liquidity, which improves the capital efficiency of the system as a whole. Specifically, Stargate users can provide liquidity on only one blockchain, but Stargate’s “Delta Algorithm” dynamically allocates the liquidity to other blockchains, while ensuring instant guaranteed finality and native asset transaction properties for traders on Rubic.exchange.
The Rubic team is excited about this integration and the further development of Rubic and Stargate’s partnership.
Rubic knows that security matters. Now, we are working more than twice as hard to research risks and vulnerabilities. Let us explore Stargate’s security measures.
Stargate’s Degree of Security
Stargate employs a novel security concept. First, it distributes the responsibilities between two different parties, the Oracle and the Relayer. The LayerZero protocol, which underpins Stargate, leverages the security of established oracle service providers such as Chainlink and Band, with an additional security layer via the relayer system.
Because LayerZero is an open protocol, dApps building on it can choose their combination of oracles and relayers, or run a relayer themselves, taking security into their own hands. The independence of the oracle and the relayer ensure that Stargate is able to guarantee valid delivery of user funds.
To patch this security issue, LayerZero Labs came up with the concept of crypto pre-crime, allowing applications to set a certain set of conditions that must be met for the delivery of a transaction. In Stargate’s case, that condition is solvency, asserting that the books between the different interacting liquidity pools on different chains must be balanced. In other words, when someone puts $50 on one chain and tries to take out more than $50 on another chain by exploiting the smart contract, LayerZero simply won’t deliver the message. This makes it much harder to exploit the protocol.
Why is Stargate Different?
Current cross-chain bridges have a few shortcomings which Stargate addresses:
- Bridges are based on wrapped tokens, not native ones. As everyone knows, the security of wrapped tokens leaves a lot to be desired.
- Support for only a small number of chains.
- No guarantee for the completion of a high-value transaction.
All of this leads to security problems, transaction speed issues, and high commissions.
Stargate, in turn, solves the above problems, where native coins can be transferred from one chain to another, uniting liquidity and avoiding high volume complexity.
Stargate is the first bridge to solve the bridging trilemma. Existing bridges are forced to make trade-offs on the following core bridge features:
- Instant Guaranteed Finality
Users & Applications can trust that when they successfully commit a transaction on the source chain, it will arrive on the destination chain.
- Native Assets
Users & Applications swap in native assets as opposed to wrapped assets, which require additional swaps to acquire the desired asset and corresponding fees.
- Unified Liquidity
Shared access of a single liquidity pool across multiple chains creates deeper liquidity for users & applications that trust in the bridge’s reliability.
Learn more about Stargate, check out their documentation, and join their communities on Twitter, Telegram, and Discord.
About Rubic
Rubic is a Cross-Chain Tech Aggregator for users and dApps.
Our vision is that Rubic’s new umbrella SDK will aggregate the best Web3 cross-chain tech — from signals and oracles, to tokens and NFT bridges, in ready-made templates for DEXs, Lending/Farms, and more. This will help developers easily make their Web3 dApps cross-chain, regardless of what their function is.
Right now, Rubic aggregates 40+ major blockchains, 90+ DEXs and bridges, and enables swapping of 15,500+ assets with the best rates, highest liquidity, and transaction speeds — in one click. Users can do it on https://app.rubic.exchange, but we also provide tools for dApps to enable cross-chain swaps (https://tools.rubic.exchange).
On top of that, Rubic’s app and our cross-chain widget provide fiat on-ramp services, making crypto easy to access and buy.
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