The DeFi River project collaborates with LayerZero to launch the first Omni-CDP module, allowing the minting of multi-chain native satUSD stablecoins without bridges or asset wrapping.
Users can send BTC, ETH, BNB, or LST on any supported chain and directly mint satUSD on another chain. satUSD supports the OFT standard, ensuring stable value and use across more than 30 DeFi protocols.
MAIN CONTENT
River integrates LayerZero to expand the ability to mint multi-chain satUSD stablecoins.
Users mint satUSD directly, without requiring bridges or wrapping, reducing risks and complexity.
satUSD applies the OFT standard, supporting use across more than 30 popular DeFi protocols.
What technology has the River project integrated to support multi-chain stablecoin minting?
The River project collaborates with LayerZero and launches the first Omni-CDP module, allowing the minting of native satUSD stablecoins across multiple chains without bridges.
This module allows users to send BTC, ETH, BNB, or LST assets from this chain and directly mint satUSD on another on-chain. Skipping the bridge or wrapping step reduces the common risks encountered when transferring assets across multiple blockchains.
The integration of LayerZero provides a smooth multi-chain connection, supporting the minting of native tokens on the destination chain with high speed and security.
What standard does SatUSD use to maintain value and cross-chain functionality?
SatUSD applies the OFT (Omnichain Fungible Token) standard, ensuring the stable currency's uniform value across multiple chains.
The OFT standard allows satUSD to function as a multi-chain native stablecoin, enabling users to easily utilize it across various DeFi applications without facing depreciation risks from bridge failures or volatility when wrapping assets.
This expands the applicability of satUSD into more than 30 popular DeFi protocols, from trading, staking to lending, enhancing liquidity and utility for users.
How can users apply the satUSD stablecoin in the DeFi ecosystem?
SatUSD can be used directly in over 30 DeFi protocols, including trading, staking, and lending activities.
Supporting native minting across multiple chains allows users to increase capital efficiency, optimizing profits when participating in DeFi without facing traditional bridge risks.
As a result, satUSD provides a seamless and secure user experience in today's multi-chain DeFi activities.
"The launch of the Omni-CDP module will create a breakthrough in the use of multi-chain stablecoins, addressing bridge limitations and associated risks."
Statement from the River project representative, August 2023
What are the main benefits of using the Omni-CDP module of the River project?
The Omni-CDP module simplifies the transfer of assets between blockchains via bridges, thereby minimizing downside risks and accelerating the minting of stablecoins.
This means that users can effectively leverage their investment capital when participating in activities across different chains without worrying about losing assets due to bridge failures or having to use complex wallets.
Moreover, the OFT standard allows the stablecoin to maintain a consistent value across all chains, supporting the sustainable development of a multi-chain DeFi ecosystem.
What should we expect from the multi-chain native mint stablecoin model in the future?
Native mint stablecoin like satUSD across multiple chains will enhance liquidity and user accessibility in the expanded DeFi ecosystem.
The platform enables cross-chain minting, which not only minimizes bridge risks but also creates a more convenient environment for multi-chain users, attracting more investors and developers.
This is seen as an important trend in DeFi development, increasing competition and innovation among major DeFi projects.
Frequently Asked Questions
What is the Omni-CDP module and what does it do?
Omni-CDP is a module that allows the minting of different native on-chain stablecoins without going through bridges, reducing risks and simplifying the process of using assets in DeFi.
What standard does the satUSD stablecoin use to operate across multiple chains?
SatUSD applies the OFT standard to maintain stable and continuous value across multiple blockchains without volatility during conversion.
In what activities can users apply satUSD?
SatUSD is used in over 30 DeFi protocols for trading, staking, lending, and many other DeFi services.
What benefits does the integration of LayerZero bring to the River project?
LayerZero provides a smooth cross-chain bridge, enabling the Omni-CDP module to mint native stablecoins across multiple chains faster and more securely.
What do users need to do to mint satUSD on different chains?
Users only need to send assets like BTC, ETH, BNB, or LST to any supported chain and can mint satUSD directly on the destination chain without complex bridge steps.
Source: https://tintucbitcoin.com/river-layerzero-ra-mat-omni-cdp-dau-tien/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
