Stargate Integrates Flare To Provide Unified Liquidity Across 25 Blockchains
In Brief
Stargate integrated Flare into Stargate V2, connecting it to over 25 blockchains and facilitating frictionless liquidity flow.
Blockchain designed for data, Flare announced its integration with the omnichain liquidity transport protocol Stargate. The Flare network is now incorporated into Stargate V2, connecting it to more than 25 blockchains and enabling liquidity to flow freely.
“The integration of Stargate V2 with Flare delivers unified liquidity from 25 chains, enabling USDT and USDC holders on networks such as Ethereum, Arbitrum, and Base to seamlessly bridge their assets to Flare,” said Hugo Philion, Co-Founder and CEO of Flare, to MPost. “This allows users to take full advantage of the impressive yields offered by Flare’s new DeFi emissions program,” he added.
Stargate V2 will build a crucial connection between Flare and over 25 blockchains, including Ethereum, Arbitrum, Optimism, and Base. This connection will help Flare increase its total value locked (TVL) and enhance liquidity by facilitating easier fund transfers between different ecosystems.
Meanwhile, its Hydra feature will facilitate the smooth transfer of USDC, USDT, and ETH to Flare, enabling their use within decentralized applications (dApps) and protocols operating on the Flare network. The underlying assets will stay locked in native asset pools on their respective source blockchains, while equivalent Hydra assets will be minted on Flare. These Hydra assets can be redeemed for the native assets at any time through Stargate, ensuring unified liquidity across all interconnected blockchains.
Built on the LayerZero V2 general message passing protocol, Stargate currently boasts nearly $500 million in TVL and has facilitated over $1 billion in bridged assets for June. Importantly, bridging native assets from any Stargate-connected blockchain to Flare is free, enabling users, applications, and developers to transfer assets of any size without incurring fees or experiencing slippage.
Flare‘s integration with Stargate V2 is set to enhance its cross-chain liquidity access and extend its reach to individuals throughout various blockchain networks. Coupled with the secure, swift, and cost-effective data access provided by Flare’s enshrined data protocols, this integration will offer decentralized application (dApp) developers a comprehensive stack for creating powerful omnichain applications.
Flare Introduced DeFi Incentives Program To Boost Stablecoin Liquidity
It represents an EVM-compatible Layer 1 blockchain that incorporates two native data acquisition protocols. It encompasses the Flare Time Series Oracle (FTSO) that offers decentralized price and data feeds, and the State Connector, which guarantees secure and trustless integration of external data into smart contracts. The platform is tailored to accommodate data-intensive applications such as machine learning and AI, real-world asset tokenization, gaming, and social networking.
This integration aligns with the launch of a major decentralized finance (DeFi) incentives program on Flare, aimed at boosting stablecoin liquidity. This initiative will help establish a strong foundation for the upcoming FAssets system, which brings DeFi capabilities to non-smart contract blockchains. Additionally, attractive reward rates will be available for Stargate V2 users who bridge their USDC and USDT to Flare and contribute to select decentralized exchange (DEX) pools.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
