StellaSwap Partners with Wormhole to Rebuild Liquidity on Moonbeam

Why Wormhole

  1. Moonwell Governance Vote: Moonwell community governance enabled the broader Moonbeam ecosystem, including StellaSwap, to poll users for their bridge preference through a snapshot vote on the preferred bridge. Wormhole was the overwhelming favourite, amassing 66% of the total votes.
  2. Security & Financial Coverage as the Over-Arching Factors: The second major consideration was our own internal evaluation of the most optimal bridge choice based on our analysis, which pointed to Wormhole based on two main factors; security and financial coverage. As StellaSwap was at ground 0 for Nomad’s exploit, we fully understood the need for a robust security framework and the importance of financial coverage in making users whole in the event of an exploit.

Introduction to Wormhole

  • Wormhole: The underlying message protocol that allows information to flow freely cross-chain between previously siloed blockchains.
  • Portal: The main bridge that offers unlimited transfers across chains for tokens and NFTs that is wrapped by Wormhole.

Bridge Security Comparative Analysis

Wormhole Portal’s Farm Launch

  • USDC
  • ETH
  • WBTC
  • BUSD

Utilizing Ecosystem Grants to Spearhead Growth & Liquidity

About StellaSwap

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StellaSwap.com, Leading Moonbeam DEX and DeFi gateway on Moonbeam. Swap, earn & stake effortlessly from a single unified platform.