Hydra
Hydra extends Stargate via Bridging as a Service (BaaS). With Hydra, Stargate enables users to transfer Hydra-wrapped versions of USDC, USDT, and ETH to Hydra chains (and between Hydra chains).
How Hydra Works
All assets that become locked in Stargates pools can be used as credits within Stargates internal accounting, deepening liquidity between liquidity pools.
Every $1 bridged using Hydra adds $1 to Protocol Locked Liquidity, reducing the need for incentives at all.
A chain electing to use Hydra assets as canonical ensures Stargate remains the best place for bridging to and from this new ecosystem into perpetuity.
Benefits of using Hydra
Locked Liquidity with Reduced Emissions: Assets transferred to new Hydra chains are securely locked in Stargate’s core pools on the original chain, which not only maintains liquidity but also minimizes the need for emissions, thereby enhancing the overall economic sustainability of the protocol.
User Flexibility and Options: Users can bridge assets across multiple chains and redeem them through any core Stargate chain, providing flexibility and options for asset availability.
Less Fragmentation: The Hydra OFT assets are horizontally composable across all new ecosystems so this isn’t a fragmenting-wrapped-asset but actually a unifying wrapped asset.
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