Sirwin
Sirwin

Across The Cryptoverse #39 - About Bridge Volume And Cross-Chain Efficiency

By PVM | SuperUMAns | 24 Jan 2024


Why Across is the cross-chain ecosystem’s optimal bridge design. Because it costs far less than other solutions and because it consumes far less gas than any other cross-chain bridge!

The success was reflected through bridging volume! Since it's launch at the beginning of the last crypto bear market, November 2021, the bridge has processed over $3 billion in lifetime volume. It outshines its competitors on several key metrics today.

Across now accounts for about a third of all bridging volume across the supported routes and tokens. This is up from 10% in January 2023, as savvy crypto natives have flocked to Across for its price and speed benefits. The next cycle will be a cross-chain cycle, and the winning bridge will be the one that offers the best UX.

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Every day in December, Across realized over $13,000,000 in daily bridge volume! The high volume is secured by UMA's Optimistic Oracle, which removes the need for on-chain validation and improves gas efficiency.

Faster transfers are obtained as the Oracle verifies the cross-chain transactions optimistically, which improves capital efficiency and gets funds moving faster. The OO's decentralized design allows anyone to raise a transaction dispute through UMA and these disputes, although extremely rare on Across, are settled through the OO by UMA token holders.

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On the supported tokens and routes, Across Protocol is in the top two recommended bridge options on aggregators 98% of the time. The majority of bridge aggregators are sorting recommendations by best returns and because of the optimizations in Across ' bridge design ... we are almost always one of the best options!

 

Also.... did you know that you can earn $ACX every time you use Across? The “bridge-to-earn” referral rewards initiative for active  Across users is simple ... onboard a friend to Across and both can earn $ACX tokens through bridging.  

The program was launched in July 2022 with the aim of introducing people to the market’s best bridge and welcoming a cohort of repeat Across users. It’s been a success so far, and over half of the $ACX tokens allocated as rewards for program are still available.

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To participate in the program, bridgers can create a unique referral link by clicking below  and then share it with other potential users. When someone uses Across through their link, both the referrer and new user earn $ACX rewards. The referral rewards constitute a portion of the bridge fee the new user pays when they make a transfer.

The rewards scale up to a maximum of 80% of the bridge fee depending on the number or volume of unique transfers made through the link. The rewards accrue with new bridge transfers and appear as part of the net fee on the Across bridging interface. Across users can claim the $ACX through the Rewards tab.

Across already beats its competitors on bridging fees. This program offers regular and new users alike a way to access the space’s optimal bridging experience with negligible costs. As a Gold Tier I am earning 70% from the fees paid by the referral, and he/she gets 17% back. It's a win-win situation, and the rewards are accumulating with each transfer. My referrals moved cross-chain over $171k and helped me earn 674 ACX tokens.

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Did you know you can also earn $OP tokens when bridging to Optimism? Optimism is an anchor of the Ethereum ecosystem and Across has long been one of its supporters. The strong bond between them means that Across users can receive 95% of their bridge fee back in $OP tokens. 

Optimism allocated grants to some projects, and Across applied for an allocation to strengthen the Optimism community and accelerate cross-chain interoperability. Across received 750,000 $OP tokens to distribute to users when they bridge onto the L2.

As a result, $OP earning went live and the accumulated rewards will be claimable monthly through the Across interface. With a 95% subsidy, the rewards will negate almost all of the bridging fees. Users will effectively pay only the remaining 5% plus the origin gas fee. 

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Across users will earn $OP rewards until the token supply runs out, expected to run into the end of the year. For those looking to explore Optimism, there has never been a better time to use Across

I done few cross-chain transfers to Optimism and accrued some $OP rewards. The total amount so far reached 9.49 $OP tokens, obtained after 8 transfers and $72,459 volume to Optimism. 

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Want to see some crazy stuff? One of my referrals bridged 302,220 ACX from mainnet to Optimism and I earned 5.68 $OP tokens. It's insane that someone sent $43,000 worth of ACX and I got a nice referral reward. I have some whales friends by the look of it, and secured some good rewards.

It gets even better! Another referral moved 54.715 $ETH from Arbitrum to Ethereum mainnet and paid only $65.28 in fees. From those I received $38.56 as $ACX rewards. This is how Across excels in all aspects! 

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Residual Income:

Play2Earn: Upland / Splinterlands / Doctor Who

Crypto Cards with cashback: Plutus Card / Crypto.com 

The fountains: PipeFlare ZCash,  GlobalHive ZCash 

Publishing bundle: Publish0xHive & Presearch

PVMihalache The Author - My Amazon Books

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PVM
PVM Verified Member

UMA Ambassador 🐔 Across Committee Member 🌉 Horizen Ambassador


SuperUMAns
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The superUMAns are crypto enthusiasts that recognized the colossal potential of UMA and a group of people that are ready to share their knowledge so the Cryptoverse will understand UMA's amazing features! ** Not an UMA official blog **

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