StellaSwap Partners with Nomad for Ethereum Bridge & The First Risk-Free ETH Farm on Moonbeam
We’re excited to announce a strategic and optimistic partnership with Nomad, a novel interoperability protocol that leverages optimistic mechanisms to strengthen the security of cross-chain asset transfers and radically reduce costs. Using Nomad, institutions and users will be able to bridge their assets — starting with ETH and USDC — between the Ethereum and Moonbeam ecosystems.
Nomad’s unique approach means that it does not rely on a large set of external parties to verify cross-chain communications, unlike validator-based bridges. By utilizing an optimistic mechanism and a network of off-chain watchers, Nomad reduces the dependency on trust to enable safe messaging between chains. On top of that, Nomad supports arbitrary message passing from inception, enabling developers to build natively cross-chain apps that can execute smart contracts on different chains in one logical instruction. This means greater composability on a cross-chain setting! 🚀
Nomad’s breakthrough approach towards increasing the security of cross-chain communication is a fundamental pillar in an increasingly interoperable future. StellaSwap is 100% aligned with Nomad’s design philosophy that has manifested into an elegant solution balancing risk mitigation of current bridging security vectors whilst prioritizing intuitive UI/UX. With the integration of Connext, users can even expedite the bridging process on Nomad. We’re excited to work together with Nomad to foster greater cross-chain composability.
- Atticus, Co-founder of StellaSwap
Launch of the First Risk-Free Ethereum (ETH) Farm
StellaSwap will kick-off the partnership with a breakthrough farm launch; the first ever risk-free ETH farm on Moonbeam network with no impermanent loss! 🎆 The aim of the first ETH farm without impermanent loss is as such;
⭐️ Attract capital inflows of ETH from Ethereum into Moonbeam network
⭐️ Facilitate deep liquidity for swapping different versions of ETH within Moonbeam with the lowest slippage as possible, where currently the absence of liquidity for swapping different versions of ETH has caused tremendous friction
⭐️ Leveraging on Nomad’s secure bridging infrastructure and sleek user interface for ETH cross-chain transfer
More details will be given in the next few days about the farm launch.
StellaSwap’s Upcoming Correlated Asset AMM Launch
The launch of the first risk-free ETH farm will be in tandem with StellaSwap’s novel launch of the first correlated asset AMM that is slated to launch 1-week from now. This means that users would be able to swap correlated assets (e.g. stablecoins, as well as, different versions of ETH) cheaply with the lowest slippage in town!
More information coming soon 😄
Nomad is a novel interoperability protocol designed to lower costs and increase the security of cross-chain messaging. By leveraging an optimistic mechanism, Nomad lets users send messages and bridge assets securely, with the assurances that anyone watching can flag fraud and protect the system.
StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.