StellaSwap Partners Meson for Stablecoin Bridging to Native USDT on Moonbeam
We’re super excited to share with you the latest innovation that will SIMPLIFY stablecoin bridging to Moonbeam in a fast, secure and no-slippage way! 💥
Introducing Meson, a protocol specializing in facilitating blazingly fast and slippage-free cross-chain swaps across blockchain networks. This means that you’ll be able to transfer stablecoins from other blockchain networks to Moonbeam and securely receive native USDT (USDT.xc)!
If you’ve been in the DeFi ecosystem for quite a bit, we’re pretty sure you’ve faced the following pain points;
- Wrapped Assets: Native assets are always more secure as compared to assets wrapped by corresponding bridges. It is common to have assets wrapped by the corresponding bridges that is utilized, for instance USDC.multi is Multichain’s version of USDC. Nomad’s exploit underlined the weakness of wrapped assets; if the underlying bridge is exploited the assets will lose their value. The only native (bluechip) stablecoin on Polkadot right now is USDT(.xc).
- Difficulty in Accessing Native USDT: Getting access to fresh, native USDT is a rather laborious process. In order to transfer over your USDT to Moonbeam, you’d have to 1) Open a Bitfinex account (which is inaccessible to users is various jurisdictions), 2) Withdraw to Polkadot’s statemint & 3) Transfer to Moonbeam via XCM.
- Bridge Issues: We’ve all had the occasional bridge hiccups where funds are taking longer than expected, self/assisted troubleshooting or wrong asset bridged over (due to liquidity fragmentation).
With Meson, you can now transfer your stablecoins securely to Moonbeam and get native USDT, hassle-free!
Meson Makes Stablecoin Bridging Easy with Crosschain Atomic Swaps
It may sound complicated, but all you need to know is that
You can now send stablecoins to Moonbeam easily and get native USDT.
On a more technical level, Meson facilitates low-cost and zero-slippage crosschain stablecoin transfers across all leading blockchains and layer-2 rollups. This is achieved via atomic swaps powered by a technology called Hash TimeLock Contracts (HTLC). The Meson team is an exciting innovation backed by a top team;
- Offers point-to-point stablecoin (USDC, USDT, BUSD) swaps across 16+ blockchains and layer2s;
- Fast confirmation (1–2mins), almost zero transaction cost, no slippage.
- Discord customer assistance is available 24 hours a day in 12 languages, ensuring 100% of customer transaction issues are resolved in 12 hours;
- Audited by reputable auditors, including Trail of Bits and SSLabs at Georgia Institute of Technology.
Guide to Transferring Stablecoins from Any Network to Moonbeam
Although Meson is super simple to use, we’ve prepared a guide if you need one. If you’re interested to bring over your stablecoins (e.g. USDC, BUSD, USDT) to Moonbeam, Meson allows you to connect to over 16 networks and execute crosschain swaps.
Bear in mind that you’ll receive native USDT (USDT.xc) on Moonbeam, which is the most secure form of stablecoins on Polkadot.
Here is a step-by-step guide;
Meson is the faster and safer way to execute low-cost, zero-slippage stablecoin cross-chain swaps across all leading blockchains and layer-2 rollups. Meson has launched on 14 high-performance chains including Ethereum, BNB Chain, Tron, Avalanche, Polygon, Fantom, Harmony, Aurora (NEAR), Evmos (Cosmos), Conflux eSpace, Moonbeam, Moonriver, as well as Layer-2 rollups such as Arbitrum and Optimism. Meson will continue to work on network expansion for the rest of 2022 with plan to roll out on more L2 rollups and non-EVM chains like Solana.
StellaSwap is a hybrid DEX that features a standard, stable and concentrated liquidity AMM to facilitate the most optimal price discovery for assets on Moonbeam. As an integrated gateway, users can access the ecosystem with ease through our native bridge, swap-for-gas feature, as well as various DeFi opportunities in a click of a button.