Stargate V2 Incorporates IOTA EVM to Boost CrossChain Transactions

Revolutionizing Liquidity Management with Stargate V2
In the ever-changing realm of decentralized finance (DeFi), the liquidity of assets plays a vital role in the development of dynamic and thriving Web3 ecosystems. We are delighted to announce the integration of Stargate V2, the liquidity transport protocol, with IOTA EVM. This integration serves as a bridge, connecting IOTA EVM with the wider Web3 space. By doing so, it brings forth seamless cross-chain transactions, improved operational capabilities, and unified liquidity pools that enhance trading efficiency and reduce asset fragmentation, a common issue in other bridge solutions.
Exciting news for the future of #DeFi! We are thrilled to announce @StargateFinance’s V2 integration of #IOTAEVM. Prepare yourself 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
LayerZero’s Omnichain Support
Stargate leverages the advanced capabilities of LayerZero V2, an omnichain interoperability framework designed for efficient inter-chain communication. This infrastructure enables applications developed with LayerZero to provide users with seamless interactions across different blockchain networks and environments, significantly improving the user experience and operational efficiency.
Bringing Omnichain DeFi to Life
Stargate is a fully composable liquidity transport protocol that empowers users and dApps to transfer native assets across different chains and access unified liquidity pools. Stargate V2 introduces several advancements and features, including 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.
Furthermore, 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 facilitates the free transfer of WETH, USDC, and USDT between all Hydra-enabled chains, making them globally redeemable for native assets on core Stargate chains.
A Bright Future for the IOTA Ecosystem
Over the past 12 months, Stargate has emerged as a dominant player in the Web3 interoperability space, accounting for up to 50% of the daily interchain transaction volume on several occasions. It has proven to be the most reliable and widely used bridge protocol in the industry, opening up IOTA EVM to a vast user base of advanced Web3 DeFi users.
Collaborating with the Stargate Foundation to bring about this integration was a crucial part of our EVM launch preparations. As Stargate V2 was launched on May 29, 2024, IOTA EVM became the first chain to expand the protocol’s reach after its initial launch. With significantly reduced bridging fees, no requirement for liquidity pools, and the benefits of LayerZero’s OFT technology, Stargate V2 sets a new standard for the user experience and execution of cross-chain transactions.
The integration of IOTA EVM with Stargate V2 significantly expands IOTA’s cross-chain communication capabilities and presents new opportunities for dApps and developers to participate in an ever-growing, interconnected DeFi world.
Tags: IOTA