Key Notes
- The bridge enables efficient stablecoin transfers across Ethereum, Arbitrum, Polygon, BNB Chain, Optimism, Avalanche, Solana, Near, and Tron.
- Competitive solver networks power the platform to secure optimal rates for users through NEAR’s chain-abstraction technology.
- Initial support covers USDT with plans to integrate USDC, USD1, and USDH as additional stablecoin options.
DapDap, a DeFi consumer app developer firm, launched StableFlow—a low-fee stablecoin bridge, offering efficient and low-slippage swaps across nine blockchain networks—powered by NEAR
NEAR
$2.86
24h volatility:
4.6%
Market cap:
$3.57 B
Vol. 24h:
$294.08 M
Intents. The platform can execute large-scale swaps up to $1 million while keeping inexpensive fees and slippage, with high reliability, according to related announcements.
A video shared by the NEAR protocol account on October 9 introducing the app demonstrates the low-fee, low-slippage USDT swap. It shows a list of the nine supported networks: Ethereum
ETH
$4 336
24h volatility:
4.3%
Market cap:
$523.39 B
Vol. 24h:
$42.90 B
, Arbitrum
ARB
$0.42
24h volatility:
5.0%
Market cap:
$2.24 B
Vol. 24h:
$201.04 M
, Polygon
POL
$0.24
24h volatility:
3.6%
Market cap:
$2.47 B
Vol. 24h:
$98.20 M
, BNB Chain
BNB
$1 246
24h volatility:
5.4%
Market cap:
$173.39 B
Vol. 24h:
$6.93 B
, Optimism
OP
$0.70
24h volatility:
5.5%
Market cap:
$1.24 B
Vol. 24h:
$162.19 M
, Avalanche
AVAX
$28.09
24h volatility:
2.9%
Market cap:
$11.85 B
Vol. 24h:
$644.10 M
, Solana
SOL
$219.1
24h volatility:
3.8%
Market cap:
$119.64 B
Vol. 24h:
$8.30 B
, Near, and Tron
TRX
$0.34
24h volatility:
1.1%
Market cap:
$31.85 B
Vol. 24h:
$855.79 M
.
According to a post by StableFlow’s recently activated official account, the platform offers the “best quotes for transfer amounts up to $1 million, unprecedented efficiency in a single step, and unmatched fees, costing just 1 basis point (0.01%).”
Moreover, the post explains how “under the hood” a network of solvers competes to execute the bridge transaction, getting the best quote for the “cross-chain transfer intent as cost-efficiently as possible.”
At first, StableFlow only supports Tether’s USDT, with plans to add Circle’s USDC, Trump-backed USD1, and Hyperliquid’s USDH.
Stablecoin Cross-Chain Execution via NEAR Intents
NEAR Intents is quickly becoming a relevant protocol for cross-chain transactions, recognized by prominent names from different projects. Solana’s and Zcash’s advocate Mert, Helium CEO, highlighted NEAR Intents as a tool providing more utility for “encrypted money.”
Chainyoda, Wallet Connect supervisor and multi-project contributor, called NEAR Intents “proof of value” for what NEAR’s co-founder Illia Polosukhin has built.
Meanwhile, Haseeb Qureshi, managing partner at Dragonfly, shared an image of NEAR Intent’s cross-chain daily volume growth on October 8. Dragonfly is a leading cross-border crypto venture fund, with disclosed positions in selected projects, including NEAR.
As of this writing, the intent-based protocol has executed $1.84 billion in nearly 3.70 million swaps across 20 blockchains and 121 supported assets, according to a Dune Analytics dashboard. Out of that, $825 million was executed in the last 30 days alone. USDT is, by far, the most swapped asset by 24-hour volume, followed by the competing stablecoin, USDC.
NEAR Intents volume data | Source: Dune Analytics
On October 3, the total stablecoin market cap surpassed the $300 billion mark, and Tether holds 58% of its market share.
While stablecoins continue to prove solid product market fit in both the decentralized and the traditional finance environments, bridging between chains has been one of the most challenging touchpoints to solve, which NEAR now tackles with its chain-abstraction stack that includes the Chain Signatures SDK and an MPC Network of solvers. Aptos was one of the most recent additions to this network, as Coinspeaker reported on September 3.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.
Vini Barbosa on X
Source: https://www.coinspeaker.com/dapdap-launches-stableflow-cross-chain-stablecoin-bridge-with-0-01-fees/
