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Cross-chain gasless USDC deposit on Moonbeam from 5+ L2 chains


Created At

HackFS 2023

Project Description

This tool enables users to deposit USDC on Moonbeam from 5+ chains. We are using Axelar's General Message Passing protocol which enables a developer building on one chain to call any function on any other connected chain. This tool makes cross-chain USDC transfer and yield generation more composable and easy.

How it's Made

This project uses a simple strategy contract and a GMP contract which sends USDC across the source and destination chains. The same strategy contract is deployed across every Source chain, currently Avalanche, Polygon, and Arbitrum One. The front end is developed in ReactJs.

The yield strategy allows users to send USDC to the Moonbeam network and deposit in Moonwell, an open-source lending protocol on Moonbeam that rewards juicy yields on deposits.

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