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    Rhea Finance Bridge Aggregator via Stargate

    hexagon

    Flipside AI

    The Aurora Layer-2 blockchain demonstrates remarkable growth, with monthly bridge transactions surging 800% from 3 to 2,405 and monthly bridgers experiencing a 3,000% increase from 2 to 74 users between June and December 2024. The network's cross-chain activity is robust, processing 791,972 USD in total volume with an average transaction size of 1,000 USD, while maintaining consistent daily bridging activity with approximately 17 unique users. The transaction landscape reveals concentrated user behavior, with 82% of transactions under $50 and most users performing single transactions, indicating early-stage network engagement and potential for future expansion.

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    📊 Aggregator Metrics
    Bridge Performance Breakdown
    🧑‍💻 User Behavior Insights
    Key Interaction Patterns

    Ref Finance, a prominent decentralized finance (DeFi) platform on the NEAR Protocol, has integrated Stargate into its Aggregator Bridge to facilitate seamless cross-chain asset transfers. This integration enables users to move assets between NEAR and various Ethereum Virtual Machine (EVM) chains efficiently.

    How It Works:

    • From EVM to NEAR:

      • Users initiate a transfer on an EVM chain.

      • Stargate manages the cross-chain transfer from the EVM chain to Aurora, NEAR's EVM-compatible layer.

      • Upon arrival in Aurora, a smart contract reads the transfer details and utilizes the Rainbow Bridge to relay assets from Aurora to the NEAR chain.

    • From NEAR to EVM:

      • Users start a transfer on the NEAR chain.

      • The Rainbow Bridge moves assets from NEAR to Aurora.

      • Once in Aurora, the smart contract invokes Stargate to complete the transfer to the target EVM chain.

    Supported Chains:

    The integration currently supports several EVM-compatible chains, including Ethereum, Arbitrum, Optimism, Base, and Scroll.

    Fees:

    Users are required to pay fees associated with Stargate, which include:

    1. LayerZero Cross-Chain Fees: Charged in ETH, covering the cross-chain messaging costs.

    2. Stargate Protocol Fees: A percentage of the assets being transferred.

    For detailed information on fee structures, users can refer to Stargate's documentation.

    This collaboration between Ref Finance and Stargate enhances interoperability within the NEAR ecosystem, providing users with a streamlined and efficient method for cross-chain asset transfers.

    Disclaimer: Flipside AI is here to help but it can make mistakes. Always review outputs and use the upvote/downvote buttons to help us improve. This content is not financial advice.