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Bridging the Gap: Stargate's Cross-Chain Analysis
Jake Kennis
Key Takeaways
6 min read
  • Stargate’s DAUs and volumes peaked in July 2023, currently down over 88% and 83% respectively from their peaks.
  • Arbitrum, Optimism, and Ethereum have been the largest recipients of Stargate flows since February 2023, whereas Avalanche, BNB Chain, Fantom, and Polygon have seen the most net outflows in USD bridging.


In a multichain world, the need for cross-chain bridging has become ever-present. Stargate Finance is one of the most used bridges today, having bridged well over $15b in volume since its inception. It uses Layer Zero’s messaging to enable cross-chain swaps and deposit liquidity on different blockchains.

This report presents the findings of the comprehensive on-chain analysis to map out most of Stargate's flows, using Nansen data and labels. We focus on two high-level metrics:

  • USD volumes
  • Daily Active Users or DAUs

To answer questions such as:

  • ‘Which chains saw the most inflows in 2023?’
  • ‘Which chains have the most consistent levels of DAUs over time?’

We have created a dashboard that visualizes flows and DAUs...