Stargate V2 has seamlessly integrated with IOTA EVM, enhancing blockchain interoperability and expanding DeFi accessibility.
The integration of Stargate V2 with IOTA EVM marks a significant milestone, offering a substantial user base and reduced transaction fees. Through Stargate V2’s liquidity transit protocol, a bridge now connects IOTA EVM and the broader Web3 ecosystem, enabling seamless asset movement across previously isolated blockchains. Powered by LayerZero V2, an advanced omnichain interoperability framework, Stargate ensures efficient communication between chains.
LayerZero’s architecture empowers applications built on it to facilitate smooth interactions across diverse blockchain networks and environments.
Exciting developments lie ahead for #DeFi! We’re thrilled to announce @StargateFinance’s V2 integration with #IOTAEVM. Prepare for reduced bridging fees, improved trading efficiency, and enhanced cross-chain capabilities! Read more here: [Link to article]
Bringing Omnichain DeFi to Life
Decentralized apps (dApps) and users can now seamlessly move native assets across different chains and access unified liquidity pools thanks to Stargate’s liquidity transport protocol.
Key among Stargate V2’s enhancements is its multi-transaction Transaction Model, allowing users to choose between immediate, full-cost transaction execution or a cost-saving batching option. Batch transactions with Stargate V2 can save up to 95% compared to Stargate V1.
Advanced Features of Stargate V2
Stargate V2 introduces an AI Planning Module that dynamically adjusts rewards and fees to maintain balance across Stargate Pools without holding any assets or funds. Additionally, the new Hydra Extension facilitates easy transfers of WETH, USDC, and USDT across all Hydra-enabled chains.
As part of the launch preparation for IOTA’s EVM, collaboration with the Stargate Foundation was crucial in establishing this connection. IOTA EVM became the first chain to expand with Stargate V2 since its launch on May 29, 2024.
With no requirement for liquidity pools and significantly reduced bridging costs, LayerZero’s OFT technology sets a new standard for cross-chain execution and multichain user experience.
Meanwhile, according to CoinMarketCap, the current price of the IOTA token is approximately $0.1844, reflecting an 8.68% increase in the last 24 hours. Over the past week, IOTA has experienced a bearish trend, declining by 7.51%.
Recently, the IOTA Foundation bolstered its leadership team by adding new directors and members to its Supervisory Board, as reported by CNF.
Explore more:
– Buy IOTA Guide
– IOTA Wallet Tutorial
– Check 24-hour MIOTA Price
– More IOTA News
– What is IOTA?
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