In this post:
- Cronos EVM launches Stargate ETH and USDC pools.
- The company said it aims to improve cross-chain bridging for users.
- The firm also revealed a component of Stargate’s V2 protocol called Hydra that operates as a Bridge-as-a-service (BaaS).
Cronos EVM, the Ethereum-compatible blockchain for the Cronos ecosystem, on May 8, announced the launch of two new Stargate pools. The firm revealed ETH and USDC pools, which are now live on Cronos EVM following the integration of LayerZero’s Omnichain messaging protocol.
Conor EVM maintained that the launch of new pools and Omnichain connectivity will form direct pipelines between the Cronos ecosystem and Stargate’s connected chains, including Ethereum, Arbitrum, Optimism, and Base. The firm said it will enable Cronos to grow TVL and deepen liquidity as users can move fast between blockchain networks.
Cronos EVM launches Stargate ETH and USDC pools
Cronos EVM launched two new Stargate pools on Thursday after integrating LayerZero’s Omnichain messaging protocol. The company revealed that the ETH and USDC pools live on Cronos EVM.
The firm that develops EVM-compatible applications said the introduction of LayerZero’s interoperability solution has allowed new cross-chain poots to be deployed on the platform. Cronos EVM also noted that the Stargate-powered ETH and USDC pools will support deep liquidity for enhanced trading on the platform. The company said deep liquidity will be achieved by drawing liquidity from multiple networks to deliver better pricing and capital efficiency.
The firm highlighted that Stargate’s liquidity architecture, built on LayerZero, will unify liquidity and connect users to more than 50 blockchains, providing seamless interoperability. Cronos EVM said it will allow developers and users on the platform to take advantage of connectivity between the networks already supported by Stargate, such as the Omnichain network.
“Thanks to LayerZero, the Cronos universe has just expanded. With new Starfate pools for ETH and USDC, Cronos EVM users can enjoy boundless liquidity, while DeFi projects can create new products that are native to Cronos while being fully cross-chain.”
-Mirko Zhao, Lead and Head of Product and Engineering at Cronos EVM.
Zhao also shared his excitement about seeing what developers create using the new Stargate pools. He believes the new pools will strengthen the ties between Cronos and the broader Omnichain landscape.
The crypto firm said it can enhance end-user experience by integrating Stargate in token bridging. The company stated that the move would also benefit Cronos dApp developers, who can leverage Stargate’s unified liquidity network to build new cross-chain solutions that harness Omnichain scalability.
Cronos allows dApps to connect to the Omnichain
Cronos EVM also revealed Hydra, a component of Stargate’s V2 protocol that operates as a Bridge-as-a-service (BaaS). The company acknowledged that it will enable chains without native assets to tap into unified liquidity across Stargate’s entire network.
The ETH-compatible blockchain revealed that dApps can connect directly to Omnichain to gain interoperability, capital efficiency, and stablecoin support. The firm also said dapps can achieve it by locking native assets in core pools and minting 1:1 Hydra-backed assets on connected chains. Conor EVM believes it will help new chains bootstrap liquidity and help users scale rapidly from launch.
Angus Lamps, Stargate’s Foundation Lead, mentioned that Cronos is a core pillar of the DeFi industry following the launch of its new pools. He argued that by connecting Cronos to Stargate’s Omnichain liquidity network, the firm entered a unified Web3 where value flows freely and developers can unlock the next generation of Omnichain-powered applications.
