With the intention to help crypto network operations, LayerZero Labs developed a cross-chain liquidity bridge, STG, to enhance the interoperability between dApps and blockchains. The first cross-chain app was introduced in March 2022 and underwent several security audits to offer yield-earning opportunities.
Let’s take a deep dive into the concept and its full working.
What is Stargate Finance?
Stargate Finance is a fully composable native asset bridge, revolutionizing the previous complications in liquidity between layer 1 and layer 2 networks. It is a cross-chain liquidity bridge mainly developed to improve the functionality between different blockchains and dApps. The platform simply empowers users’ involvement with a broad array of dApps without considering the network origin. The bridge handles over $5 Million in transfers on a daily basis through a multi-chain liquidity protocol.
Focusing on the features, it is one of the safest and most popular cross-chain bridges supporting a wide range of assets including ETH, USDT, USDC, WETH, DAI, BUSD, SUSD, and FRAX….