Stargate Finance Announces the Upcoming Deployment of Its Hydra Protocol on Telos, Scheduled for March 26th

This integration will enable Telos to access deep cross-chain liquidity, providing users with low-cost transfers in decentralized finance (DeFi).

Stargate Finance is integrating the Telos chain into its unified liquidity network. The deployment of the Hydra protocol on Telos is set for March 26th. Following the integration, Telos will be able to access Stargate’s liquidity network of over 70 chains.

This integration will grant Telos access to deep cross-chain liquidity, which can be used to perform low-cost transfers in decentralized finance. It will also allow for the creation of new DeFi use cases on Telos, as developers will be able to build applications that utilize the protocol’s cross-chain capabilities.

Stargate Finance is an omnichain liquidity transport protocol that aims to facilitate cross-chain transfers of native assets while allowing users and dApps to access unified liquidity pools. The protocol is composed of several key components: Transfer, Pools, Farms, and the Delta Algorithm.

The Transfer component allows users to swap native assets cross-chain with a 1:1 ratio and with guaranteed instant finality. This means that users will always receive the same amount of the asset on the destination chain as they started with on the source chain, and the transfer will be completed in a few minutes.

The Pools component allows liquidity providers to contribute to Stargate’s omnichain protocol and earn stablecoin rewards on every transfer through the platform. Liquidity providers can choose from a variety of supported stablecoins and chains to provide liquidity in the Pools.

The Farms component enables Stargate liquidity providers to farm their LP tokens in exchange for STG rewards. This allows liquidity providers to maximize their earnings potential by providing liquidity in the Pools and then farming their LP tokens to earn STG tokens.

Finally, the Delta Algorithm is a unique resource balancing algorithm that leverages unified cross-chain liquidity to enable a new class of cross-chain bridges dealing purely in native assets while still maintaining instant guaranteed finality. The algorithm is constantly running in the background to ensure that liquidity is balanced across all chains and that cross-chain transfers can be completed quickly and efficiently.

STG is the native token of the Stargate Finance project. The main use cases for the STG token are Staking and Governance. STG holders can choose to stake their tokens in exchange for veSTG.

This token (veSTG) can be used for voting on several critical governance issues, such as which chains to add to the protocol, which stablecoins to support, and how to allocate treasury funds. The length of the staking period directly influences the voting power that the staker receives. For example, a user who stakes their STG tokens for 1 month will receive less voting power than a user who stakes their STG tokens for 12 months.

The integration of the Telos chain into the Stargate Finance ecosystem is a significant development for both projects. Telos is a fast, efficient, and scalable chain with a strong community, making it an ideal candidate for integration with the Stargate protocol.

The addition of Telos to the Stargate network will provide Telos users with access to deep cross-chain liquidity, which can be used to perform low-cost transfers in decentralized finance. It will also allow for the creation of new DeFi use cases on Telos, as developers will be able to build applications that utilize the protocol’s cross-chain capabilities.

Overall, the integration of the Telos chain into the Stargate Finance ecosystem is a positive development for both projects and is expected to lead to several benefits for both projects and the broader blockchain industry.