The Good Tech Companies - Flare Network Integrates with Stargate V2 to Enhance Cross-Chain Liquidity

Episode Date: July 18, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/flare-network-integrates-with-stargate-v2-to-enhance-cross-chain-liquidity. Flare Network integrates with Stargate V2 to connect over 25 blockchain networks, including Ethereum and Arbitrum. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #flare-network, #stargate-v2-integration, #stargate-v2-flare-network, #cross-chain-liquidity, #flare-network-announcement, #flare-network-news, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. Flare Network integrates with Stargate V2 to connect over 25 blockchain networks, including Ethereum and Arbitrum.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Flare Network integrates with Stargate V2 to enhance cross-chain liquidity. By Ashan Pandey, Flare Network has announced its integration with Stargate V2, a leading omni-chain liquidity transport protocol. The collaboration, revealed on July 18, 2024, promises to connect Flare to over 25 blockchain networks, including Ethereum, Arbitrum, Optimism, and Base. This strategic partnership comes at a pivotal time for both organizations. Flare, known for its focus on data-intensive blockchain applications, aims to deepen its liquidity and expand its total value locked, TVL. Stargate, on the other hand, has been dominating the Web3

interoperability space, handling up to 50% of daily cross-chain transaction volume during peak periods. Hugo Fillion, Flare's co-founder and CEO, expressed enthusiasm about the integration. FLR5 summer is accelerating, Fillion stated, referring to Flare's ongoing initiatives. He highlighted that the partnership would provide holders of USDC and USDT across multiple networks with seamless access to industry-leading yields through Flare's new DeFi emissions program. The integration leverages Stargate V2's Hydra feature, allowing for the smooth transfer of USDC, USDT, and ETH to Flare. This mechanism locks the original assets in native pools on source chains while minting equivalent Hydra assets on Flare, ensuring unified liquidity across all connected chains. Angus Lamps, foundation lead of Stargate, emphasized

the potential impact of this collaboration. As one of the most reliable and popular bridge protocols, Stargate v2 can help to onboard a significant user base of advanced DeFi users to Flare through unified liquidity, Lamps explained. The timing of this integration is particularly noteworthy, coinciding with the launch of a major DeFi incentives program on Flare. This program aims to boost stable coin liquidity and lay the groundwork for Flare's upcoming F-Assets system, which promises to bring DeFi capabilities to non-smart contract chains. For developers and users alike, this integration opens up new possibilities.

It not only expands access to cross-chain liquidity but also provides a robust platform for building omni-chain applications. Flare's unique selling point, its enshrined data protocols, combined with Stargate's liquidity solutions, creates a powerful toolkit for blockchain innovators. However, the road ahead is not without challenges. The blockchain space is notoriously volatile, and the success of this integration will depend on user adoption and market conditions. Additionally, regulatory scrutiny of cross-chain protocols has been increasing, which could potentially impact future operations. As the crypto industry continues to evolve, partnerships like this between Flarey and

Stargate highlight the ongoing trend towards greater interoperability and liquidity in the blockchain ecosystem. Whether this collaboration will lead to the dramatic deepening of stable coin liquidity that Fillion envisions remains to be seen, but it certainly marks a significant system. Whether this collaboration will lead to the dramatic deepening of stablecoin liquidity that Fillion envisions remains to be seen, but it certainly marks a significant step towards a more interconnected blockchain future. Don't forget to like and share the story. Tip Vested Interest Disclosure This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims

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