Stargate Finance Integration Brings Unified Liquidity to Flare Networks, Empowering #FLRfiSummer

Flare, a data-focused blockchain, has announced a Stargate Finance integration, allowing for frictionless liquidity movement from over 25 chains

Blockchain Flare has announced an integration with Stargate Finance, a multi-chain liquidity transfer network, to enable seamless liquidity movement from over 25 chains into the Flare network.

This integration will allow assets like USDC, USDT, and ETH to be transferred to Flare and used in various dapps and protocols. The underlying assets will remain in their original asset pools on the source chain, while Hydra assets will be minted on Flare.

This integration comes as part of Flare’s major DeFi incentive campaign, which aims to increase stablecoin liquidity and prepare for the upcoming FAssets DeFi system for non-smart contract chains.

Stargate V2 users who bridge their USDC and USDT to the Flare network and add them to specific dex pools will also be able to benefit from the industry-leading payout rates.

“FLRfiSummer is accelerating. With LayerZero V2, SparkDEX, and now Stargate V2, holders of USDC and USDT across multiple networks now have seamless access to the industry-leading yields made available by Flare’s new DeFi emissions program,” said Hugo Philion, Flare Co-Founder.

“Our aim is to dramatically deepen stablecoin liquidity on the network to provide a secure foundation for the launch of FAssets and the arrival of Bitcoin DeFi on Flare.”

Stargate currently has around $500 million in total value locked (TVL) and helped enable over $1 billion in bridging assets in June.

Meanwhile, CNF has previously covered updates to the Flare Time Series Oracle (FTSO) to reduce data transmission times to 1-2 seconds, thus improving dapp capabilities on the Flare and Songbird networks.

Additionally, in May, Flare Networks announced a partnership with digital asset custodian Hex Trust Group for the integration of the stablecoin USDX.

Flare’s native token, FLR, is currently trading at around $0.02027, slightly up 0.51% over the last 24 hours, with a market cap of $868.68 million.

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