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Angle is a decentralized stablecoin protocol that prides itself on deep and capital efficient liquidity accessible across every ecosystem.
Fragmented stablecoin liquidity across different chains is a paramount source of friction for DeFi users as one often has to wait for several minutes and pay a slippage when transferring assets from one chain to another in search of new yield opportunities. Additionally, different chains have different wrapped versions of the same token depending on the bridge they were transferred with, rendering the UX even more confusing and difficult for end users.
We deployed our stablecoin technology across Ethereum, Polygon, Optimism and Arbitrum to solve this challenge of easy access to agEUR for all users. On each of these chains, our users can borrow agEUR at a cost-effective price and obtain capital-efficient leverage on the collateral assets of their choice with minimized liquidation risks.
Angle’s mission goes far beyond the promise of minting robust and scalable stablecoins natively on multiple chains; our protocol’s ultimate goal is to build a decentralized money layer powering a completely open financial ecosystem and empowering DeFi users across every chain.
Realizing this mission requires solving complex, costly, and historically unsafe user experiences involved in the typical cross-chain asset transfer process. Angle envisions a UX which abstracts away the complexities of cross-chain transfer and enables users to enjoy seamless liquidity without needing to know or interoperate the myriad chains involved in the process.
🌉 It is to pave the way for such a future that Angle has decided to integrate with LayerZero bridging infrastructure to enable omnichain agEUR.
As of today, users can bridge assets directly through Angle App agEUR between Ethereum, Optimism, Polygon and Arbitrum. Under the hood, LayerZero is the solution that is used to pass messages from one chain to another.
LayerZero recently emerged as one of the most promising, efficient, and safe generic messaging solutions. At the moment, Angle is utilizing LayerZero’s technology to enable cross-chain agEUR bridging, however we imagine more opportunities for inventive collaboration with LayerZero’s messaging protocol. For example, Angle x LayerZero could enable passing boosts from one chain to another. While LayerZero unifies agEUR liquidity across Polygon and optimistic rollups today, our integration enables quick and easy omnichain liquidity and upgrades to zk-rollups in the future.
Beyond these crucial elements of innovation, one of the key advantages of building with LayerZero is that the infrastructure is highly customizable and endows user application’s with their own security parameterization. For example, all Angle bridge contracts are owned by the DAO which maintains full control over how much can be bridged and when. Since we’re always about playing it safe, we designed the bridge to launch with limits on the amounts that can be bridged at any given time. With these custom measures in place alongside LayerZero’s systematic security measures, the potential impact of an exploit on the system is limited.
Angle’s cross-chain implementation was designed to optimize between convenience and security and LayerZero is playing a key role in enabling that. By integrating with LayerZero, Angle hopes to build an industry-leading standard that other stablecoin protocols can look to for smooth and secure bridging across chains for all DeFi users.
Our contracts are open-source and we welcome the community to take a look at our custom LayerZero OFT (omnichain fungible token) implementation.
📚 For a thorough overview of our cross-chain infrastructure, you can check at this page of our docs. Additionally, our cross-chain contract addresses are available here.
Still unsure of why you should bridge agEUR?
Some important and exciting use cases include: sending agEUR for very low fees worldwide, paying your contributors, receiving payment in agEUR, or enjoying cross-chain yield farming opportunities like those currently offered on Polygon or Optimism to name a few.
Angle is an over-collateralized, decentralized and capital-efficient stablecoin protocol. The protocol has launched agEUR, the biggest decentralized Euro stablecoin in the market on Ethereum, Polygon, Optimism and Arbitrum.
LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dapps into omnichain-applications using a single, simple interface.
For more information visit: https://layerzero.network.
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