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DapDap Launches StableFlow: Cross-Chain Stablecoin Bridge with 0.01% Fees

DapDap Launches StableFlow: Cross-Chain Stablecoin Bridge with 0.01% Fees
DapDap Launches StableFlow: Cross-Chain Stablecoin Bridge with 0.01% Fees

Key notes

  • The bridge enables efficient transfers of stablecoins across Ethereum, Arbitrum, Polygon, BNB Chain, Optimism, Avalanche, Solana, Near, and Tron.
  • Competitive Solutions Networks powers the platform to secure optimal prices for users through NEAR’s proprietary chain abstraction technology.
  • Initial support covers USDT with plans to integrate USDC, USD1, and USDH as additional stablecoin options.

DapDap, a consumer DeFi app developer, launches StableFlow – a low-fee stablecoin bridge, offering efficient, low-slippage swaps across nine blockchain networks – powered by NEAR

close
$2.99



24-hour fluctuations:
1.9%


Market value:
$3.74 billion



Vol. 24 hours:
$275.98 million

Intentions. The platform can execute large-scale swaps of up to $1 million while maintaining inexpensive fees and slippage, with high reliability, according to related announcements.

A video shared by a NEAR protocol account on October 9 introduces the app demonstrating a low-fee, low-slippage USDT swap. Shows a list of the nine supported networks: Ethereum

Ethereum
$4354



24-hour fluctuations:
2.0%


Market value:
$525.96 billion



Vol. 24 hours:
$41.71 billion

‘Arbitration

ARB
$0.42



24-hour fluctuations:
0.8%


Market value:
$2.29 billion



Vol. 24 hours:
$198.98 million

,polygon

pee
$0.24



24-hour fluctuations:
0.1%


Market value:
$2.50 billion



Vol. 24 hours:
$99.75 million

BNP series

BNB Bank
$1270



24-hour fluctuations:
1.2%


Market value:
$176.62 billion



Vol. 24 hours:
$6.19 billion

optimism

O.P
$0.72



24-hour fluctuations:
0.4%


Market value:
$1.28 billion



Vol. 24 hours:
$167.75 million

Avalanche

fax
$28.41



24-hour fluctuations:
0.2%


Market value:
$12.00 billion



Vol. 24 hours:
$641.06 million

,Solana

Sol
$220.9



24-hour fluctuations:
2.7%


Market value:
$120.67 billion



Vol. 24 hours:
$7.49 billion

near, and you can see

TRX
$0.34



24-hour fluctuations:
1.0%


Market value:
$31.84 billion



Vol. 24 hours:
$717.95 million

.


According to a post by the recently activated StableFlow official account, the platform offers “the best rates for transferring amounts up to $1M, unprecedented one-step efficiency, and unparalleled fees, at a cost of just one basis point (0.01%).”

Furthermore, the post explains how a network of analysts compete “under the hood” to execute the bridge transaction, obtaining the best quote “for the goal of moving across the chain as cost-efficiently as possible.”

Initially, StableFlow only supported Tether’s USDT, with plans to add Circle’s USDC, Trump-backed USD1, and Hyperliquid’s USDH.

Cross-chain Stablecoin implementation via NEAR intents

NEAR Intents has quickly become a convenient protocol for cross-chain transactions, being recognized by prominent names from different projects. Mert, Solana’s lawyer and Zee Cash, CEO of Helium, Highlights of NEAR’s intentions As a tool that provides greater benefit to “crypto-money”.

Chinaoda, a Wallet Connect maintainer and contributor to several projects, called NEAR Intents “proof of value” for what NEAR co-founder Ilya Polosukhin has built.

Meanwhile, Haseeb Qureshi, Managing Partner at Dragonfly, shared an image of daily volume growth via the NEAR Intent series on October 8. Dragonfly is a leading cross-border cryptocurrency investment fund, with announced positions in select projects, including NEAR.

As of this writing, the intent-based protocol has executed $1.84 billion in approximately 3.70 million swaps across 20 blockchains and 121 supported assets. According to the Dune Analytics dashboard. Of that, $825 million has been implemented in just the last 30 days. USDT is, by far, the most exchanged asset in terms of 24-hour trading volume, followed by its rival stablecoin, USDC.

NEAR INTENT VOLUME DATA | Source: Debt Analytics

On October 3, the total market cap of stablecoins crossed the $300 billion mark, with Tether holding 58% of the market share.

While stablecoins continue to demonstrate hard product market fit in both decentralized and traditional financial environments, bridging between chains has been one of the most challenging touchpoints to solve, which NEAR is now addressing through a chain abstraction suite that includes the Chain Signatures SDK and the MPC Network of solutions. Aptos was one of the newest additions to this network, Coinspeaker reported on September 3.

the next

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

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Vini Barbosa has been covering the cryptocurrency industry professionally since 2020, summarizing over 10,000 hours of research, writing, and editing relevant content for media outlets and key industry players. Vinny is an active commentator and big user of technology, and truly believes in its revolutionary potential. Topics of interest include blockchain, open source software, decentralized finance, and real-world utilities.

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