Web3 Payments Platform Fuse Network Partners With Cross-Chain Bridge Stargate
- Fuse Network announces strategic partnership with cross-chain bridge, Stargate.
- The partnership aims to enhance interoperability and liquidity across Fuse.
Fuse, the payments-focused blockchain, announced its strategic partnership with Stargate, a cross-chain asset bridge, to integrate the latters functionalities into the Fuse ecosystem. The integration aims to enhance interoperability across the multichain networks on Fuse and its overall liquidity, for more efficient business payments across users.
According to the team statement, Fuse will leverage Stargates Hydra technology, to deliver seamless, secure and cost-efficient digital asset transfers in its ecosystem. Fuse Network users will be able to transfer native assets cross-chain while accessing Stargates unified liquidity pools with instant guaranteed finality.
Enhancing Multichain Asset Transfers on Fuse
Stargate allows users and DApps to swap 1:1 native assets cross-chain by accessing Stargates unified liquidity pools. In addition, users can add liquidity to the platforms Omnichain protocol and earn stablecoin rewards for every transfer made using Stargate.
The partnership with Stargate will open a new channel for Fuse users to enjoy these benefits and more, the statement adds. Fuse Network will be able to expand its ecosystem and offer users a frictionless experience for transferring digital assets across multiple blockchains.
Notwithstanding, by utilizing Stargates unified liquidity model, Fuse eliminates the need for traditional liquidity pools, supporting a more streamlined and scalable approach to cross-chain transactions. This is in line with Fuses mission to provide global, borderless and cost-friendly payment systems to businesses and individuals without facing liquidity hiccups.
Leveraging Stargates Hydra technology will remove the complexities of transferring liquidity across the Fuse network while enhancing the platforms scalability, usability, and simplicity in making payments. It also aligns with Fuses broader roadmap, which includes significant upgrades such as the Fuse Ember transition to modular architecture and zkEVM compatibility.
Cross-chain Bridges Set To Boost Liquidity on Fuse
By reducing the challenges of transferring assets, Fuse is set to benefit from added liquidity on its platform. The Hydra technology will allow Fuse users to bridge key digital assets such as USDC, USDT, and WETH from over 20 chains directly onto the Fuse Network.
As alluded to, the 1:1 swapping model backs every native asset in locked reserves on Stargates core blockchains such as Ethereum, Avalanche, Fantom, and Arbitrum. This ensures users' funds are secure and enhances reliability without relying on dedicated Fuse liquidity pools.
Moreover, Hydras composable asset model allows users to interact with various decentralized applications on supported blockchains (or the omnichain ecosystem). This expands the innovations on Fuse while enhancing the utility and accessibility of the Fuse Network. The ability to tap into unified liquidity through Stargates multi-chain infrastructure eliminates the need for separate liquidity pathways and reduces reliance on incentivized liquidity programs, creating a more efficient system for users and developers.
More importantly, the partnership will remove any fees or slippage while transferring assets across Stargates core chains to Fuse, allowing users to make high-volume trades and transactions seamlessly. Finally, the integration of Stargate will allow the majority of DeFi liquidity on Fuse to migrate to Stargate-backed assets without the need for additional capital reserves or complex governance decisions.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Text source: Crypto Daily™
