The wave that will lift all boats is here.
StarkGate Alpha == StarkNet Bridge on mainnet is live.
Surf the wave 🏄🏄
#starknet
TL;DR
The first version has been live on public Testnet for more than a month!
We got valuable community feedback and things improved
Mainnet deployment is here!
Make sure you switch your argent x account to "Ethereum Mainnet" when interacting with the bridge on mainnet. The maximum tx is 0.025 ETH per tx and the total TVL is 30 ETH. Don't refresh the transaction window before the ETH is in your Argent X wallet.
As a gateway between Ethereum and StarkNet, StarkGate allows users to do everything you'd expect.
How does StarkGate work?
Each token type is handled by a separate bridge on Ethereum L2 (i.e. there is a separate deployment for each token type). Each bridge communicates with its counterpart on StarkNet.
ETH and ERC-20 tokens can be used to transact on L1 via the StarkNet Alpha network and STARK-based computational compression. ETH and ERC20 tokens never leave Ethereum, but we still refer to various operations with a bridge as "deposits", "transactions", and "transfers".
What tokens will StarkGate support?
StarkGate Alpha will initially only support ETH on Mainnet. WBTC, USDC, USDT, and DAI will be added later.
Further down the road, we will publish the mechanism for adding support for additional tokens.
How safe will StarkGate Alpha be on Mainnet?
To reduce the risks in using an Alpha version, StarkGate Alpha is launched on Mainnet with the following limitations:
Token types are limited by the total value locked (TVL) in L1.
StarkGate will limit the amount that can be sent from L1 to L2.
As confidence grows, we will gradually ease these limitations.
Currently, the StarkGate bridge is still an alpha test, is centralized, and not secure, hence all the limitations.
In StarkGate, all these vulnerabilities of other bridges are fixed by using a novel technology. A tangible, concrete solution is being implemented by the StarkWare team.
Unlike sidechains, rollups rely on a verified "state" on L1, which can only be updated with valid proof. Bridge funds need your deposit/withdrawal already included in the verified state.
Transactions are verified as if they happened on L1.
Rollups are called L2s because they rely directly on Ethereum's consensus for their security, rather than a separate consensus mechanism.
StarkNet Alpha and the bridge code have not yet been audited. StarkGate Alpha's ABDK and Nethermind audits will soon be completed.
Join StarkNet's discord server for fun & help.
More info on our main page: @StarkWareLtd
You can read the unrolled version of this thread here: typefully.com/odin_free/92TdZLw