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BlockchainIntegration of IOTA EVM into Stargate V2 Enhances CrossChain Transactions

Integration of IOTA EVM into Stargate V2 Enhances CrossChain Transactions

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Revolutionizing Liquidity Management with Stargate V2
In the rapidly changing realm of decentralized finance (DeFi), the liquidity of assets plays a pivotal 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. The integration brings forth seamless cross-chain transactions, enhanced operational capabilities, and unified liquidity pools. These advancements improve trading efficiency and reduce asset fragmentation commonly seen in other bridge solutions.
Exciting news for the future of #DeFi! We are thrilled to announce @StargateFinance’s V2 integration of #IOTAEVM. Brace yourselves for reduced bridging fees, improved trading efficiency, and expanded cross-chain capabilities!
Read the full article here ⤵️

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— IOTA (@iota)
June 20, 2024
Omnichain Support from LayerZero
Stargate leverages the advanced capabilities of LayerZero V2, an omnichain interoperability framework designed for efficient inter-chain communication. This infrastructure empowers applications developed with LayerZero to offer users seamless interactions with different blockchain networks and environments, thus significantly enhancing the user experience and operational efficiency.
Bringing Omnichain DeFi to Life
Stargate is a fully adaptable liquidity transport protocol that enables users and dApps to transfer native assets across different chains and gain access to unified liquidity pools. Stargate V2 introduces various advancements and features, including the Multi Transaction Model. This model allows users to choose between paying the full cost for immediate transaction execution or paying a portion of the total cost by batching their transaction with others. Compared to Stargate V1, this model reduces costs by 95%.
Moreover, Stargate’s AI Planning Module dynamically adjusts fees and rewards to balance Stargate Pools across all chains without controlling any funds or 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 the dominant player in the Web3 interoperability space, accounting for up to 50% of the daily interchain transaction volume on multiple 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 this integration to life was a fundamental aspect of our EVM launch preparation. With the launch of Stargate V2 on May 29, 2024, IOTA EVM became the first chain to expand the protocol 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 benchmark for a user-friendly multichain experience and cross-chain execution.
The integration of IOTA EVM with Stargate V2 substantially expands IOTA’s capabilities for cross-chain communication and provides new opportunities for dApps and developers to participate in a growing and interconnected DeFi world.
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IOTA

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