Announcing the Planned Integration of StarkNet into Mosaic
Composable Finance is excited to be expanding the capabilities of Mosaic by integrating StarkNet into our cross-layer asset transferal system. As a permissionless decentralized ZK-rollup operating over Ethereum, this integration will provide Mosaic users with another layer 2 (L2) scaling solution to utilize when making seamless asset transfers. In addition, users will gain easy access to all the benefits of Starknet’s censorship-resistant and permissionless layer.
StarkNet has offered Composable a grant to assist in our work. We are incredibly grateful for this opportunity to continue expanding our interoperable infrastructure as we shape the face of DeFi’s future.
Mosaic is our asset transferal system that connects and unifies all major DeFi ecosystems. It aims to reduce high costs and transaction times from moving between different layers and chains to help overcome the interoperability limitations currently hindering the industry.
We launched Mosaic’s Proof of Concept (PoC) in September of this year; it started as a bridge between Arbitrum, Polygon and the Ethereum mainnet. Since that time, we have expanded the transferal system to include Fantom, zkSync, Avalanche C-Chain, Moonriver and now StarkNet.
The current tokens enabled for swapping on Mosaic include aUSDC, aUSDT, aDAI, ETH-USDC SushiSwap LPs (SLPs), WETH-USDT SLPs, MIM, and TriCrypto LPs.
The beauty of this interoperable infrastructure is what it enables DeFi users to achieve. Mosaic serves as a liquidity layer that leverages other bridges by tapping into their liquidity, with a native ability to forecast liquidity values in its network vaults further helping to improve the overall system’s performance and user experience for users.
Evidently, Instrumental Finance, a Composable Labs portfolio company and a chain and layer-agnostic LPing solution, which allows builders to optimize their liquidity provisioning yield, heavily leverages Mosaic for complex strategy management solutions such as cross-chain/layer arbitrage.
Recently, Composable announced the launch of Mural, which powers NFT transfers between our integrated scaling solutions. This technology will help to empower NFT artists and collectors while creating more opportunities to expand the unique use cases of the non-fungible assets.
About StarkNet and the benefits, it provides to Mosaic
As a ZK-rollup built on Ethereum, StarkNet enables any dApp to achieve unlimited scale for its computation without compromising Ethereum’s composability and security. A major piece of added ingenuity is that StarkNet allows developers to implement their business logic of choice into a smart contract and deploy it without permission on its network.
This flexible nature opens a host of new opportunities for both developers and end-users. Thanks to its integration into Mosaic, not only will it become easier to access this highly composable layer, but it will also become easier for assets to be transferred to — and utilized on — StarkNet.
Developing on the infrastructure, this L2 supports scale while preserving the security of the Ethereum mainnet by producing STARK proofs off-chain; then verifying the proofs on-chain. The usage of STARK-proofs ensures that everyone will be able to verify the full chain with low hardware requirements, regardless of the network’s throughput, without trusting any external entity. Moreover, the scaling solution’s permissionless layer of Sequencers and Provers helps to ensure that the network will be censorship-resistant.
The company has established partnerships with Nethermind, Argent, Figment and other respected organizations. At the beginning of 2021, StarkNet published a roadmap for users and DeFi enthusiasts to follow its progress. Presently, the StarkNet Alpha is live on Ethereum.
We are extremely pleased to be integrating StarkNet into Mosaic for the mutual benefit of both organizations. As people utilize our bridge to access the network, we are excited to learn how people utilize this scaling solution and all that it provides.
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