Stargate Finance, a cross-chain native asset transfer protocol, today announced that Beldex (BDX), a privacy-focused cryptocurrency that enables users to execute public and private transactions, is available on the cross-chain liquidity protocol. The aim of the deployment of BDX on Stargate is to introduce the cryptocurrency into one of the most actively utilized blockchain networks in the world.
Stargate, which is powered by LayerZero’s Omnichain Fungible Token (OFT) Standard, has rapidly become a foundation for cross-chain liquidity, linking more than 70 blockchain networks and facilitating real-time and safe transfer of crypto assets.
Traditionally, transferring digital assets between blockchains involved multiple bridges that were expensive, slow, and even risky. With its innovative cross-chain bridge protocol built on the cross-chain interoperability protocol LayerZero, Stargate resolves these problems. This tech solution has enabled Stargate to become one of the leading multichain bridges in the crypto ecosystem, connecting over 70 chains and powering more than $70 billion in transactions.
Beldex Enforcing Cross-Chain Simplicity Using Stargate Technology
Through the integration above, Beldex leverages LayerZero’s OFT standard and Stargate’s cross-chain infrastructure to enable its users to seamlessly move BDX tokens across numerous chains and widen the accessibility of the cryptocurrency. Launched in 2018, Beldex, which is a privacy coin built on the Monero blockchain, seeks to broaden its token expansion through the partnership mentioned above. This deployment positions BDX at the forefront of the advancing cryptocurrency space, where accessibility, speed, and efficient token movements are crucial for asset adoption among mainstream users.
Beldex’s integration with Stargate is a significant milestone as the privacy-focused protocol utilizes Stargate’s cross-chain technology to address costly and slow multichain token transfers. With LayerZero’s OFT standard in place, BDX customers can now move tokens between BNB Chain, Solana, Cardano, and several other chains cost-efficiently and rapidly, without concern about price fluctuations or hidden fees.
In a real-life situation, for instance, a user holds BDX token on Solana but wants to take advantage of a DeFi yield opportunity on the TRON network. In the past, this token transfer would have required several transactions, sophisticated bridging procedures, and possible losses because of price slippages. With Beldex’s incorporation on Stargate, BDX token transfer across on-chain networks is now real-time, direct, and cost-effective, enabling users to easily participate in the broader DeFi landscape.
Analysis After Network Integration
The integration of Beldex on Stargate’s multichain interoperability ecosystem marks an important milestone in Beldex’s development journey. This incorporation, which aims to enhance the token’s accessibility and advance user experience, has had a noticeable effect on the asset’s market performance.
BDX’s price surged 0.2% following the integration announcement, and besides that, it is up 1.6% in the last 24 hours. These positive figures signify rising investor enthusiasm and increased trading activity, further cementing BDX’s position in the larger crypto market.
The token has not only been one of the best performers this year, but has also defied the recent downturns being noticed in the broader market. BDX’s price, which currently trades at $0.09128, has been up 7.8%, 12.65%, and 24.6% over the past week, month, and year, respectively, showing its immense popularity.
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