Evaluation: Cost competitiveness of main bridge market

原文标题：《 An analysis of cost competitiveness of cross-chain bridges 》

Source: Multichain

The Odaily Planet

At present, there are as many as hundreds of cross-chain Bridge projects on the market. In addition to public chain's own official Bridges, such as Arbitrum Bridge, Avalanche Bridge, Optimism Gateway, etc., there are also many well-known professional cross-chain bridge projects, such as   CelercBridge, Stargate, Multichain, etc. nbsp by Defillama; 18  The monthly transaction volume of a cross-chain bridge is. 80.4 & have spent At $100 million, the cross-chain bridge has become a major market for many projects to compete.

In addition to security, product features and user experience, users are most concerned about cross-chain cost. To this end, the author made a comparative analysis of the transaction costs of some mainstream cross-chain Bridges in the market, and selected the most competitive cross-chain Bridges in terms of fees. According to Defillama  It can be found that Across, CelercBridge, Hop, Multichain and Stargate are all leading cross-chain Bridges in terms of daily transaction amount and number of daily transactions. Therefore, the author chose this bridge. 5  A cross-chain bridge to make cross-chain cost comparison analysis object.

The cost mechanism of the cross-chain bridge has its own characteristics

The following is a brief introduction to the cost mechanism of each cross-chain bridge.

(1 ) The cost of Across includes two parts, the target chain Gas fee and the protocol usage fee. The protocol usage fee is calculated by the formula, and the specific calculation method is referred to the official fee document.

(2 ) CelercBridge  The cost consists of two parts, the target chain. Gas  Fee and Agreement usage fee, wherein agreement usage fee range is 0%  - 0.5% & have spent .

(3 ) Hop uses   AMM  Mechanism, requires 0.04%    swap  Cost, at the same time   Hop  Not suitable for large users, because. AMM  - Mechanics will have slippage points. In addition   Hop  The official fee documentation mentions a minimum charge. 1  Usd, but this charge is not seen in the actual cross-chain, which should be because the charge document has not been updated.

Eg:  Author test   Polygon-> Arbitrum, sent   6.8 & have spent Us dollars, actually received. 6.51 & have spent Dollars.

Source link browser address,Target link browser address.

（4 ）Multichain 的收费文档内包含了对山寨币和主流币的收费标准，个别Token收费的改变也会在其推特上更新。目前，针对主流 Token ETH、USDC 与 USDT，目标链 Ethereum 的费用是 0.1% ，最低费用 4.9 美金，这个费用包含目标链 Gas 费用和协议使用费用，目标链是 BSC、Polygon 与 Avalanche 的费用是 0.01% ，最低费用是 0.19 美金，其他目标链的固定跨链费用也是 0.19 美金。Click for details.

（5 ）Stargate 对非 STG  Token 转账会收取 0.06% 的费用。 Stargate 收费机制比较特别，其页面显示的预估到账金额是最高的，看起来收取的费用很少，但是在其交易界面仔细看便会发现，Stargate 除了具有一个名为「Gas on destinatioin」的目标链 Gas 费用外，还有两个名为「Gas cost」和「Fee」的费用。通过实际跨链，发现 Stargate 的「Gas on destinatioin」只是预估的目标链费用，而实际上收取的目标链 Gas 费用是以源链的 Token 进行收取的，这部分费用包含在」Gas cost」里面，在实际的」Gas cost」中，还包括源链的 Gas 费用。因此用户进行跨链交易，Stargate 的实际收取的跨链费用为扣除源链 Gas 费用之后的 「Gas cost」与「Fee」的总和。

Eg:  By the name of eg. Ethereum  Transfer money. USDT is taken as an example, as shown in the following figure,   Stargate  It will be displayed directly on the trade page. 0.036075 & have spent BNB's "Gas  cost ", the user carried   1  USDT  The transfer, deduct the source chain Gas  After that, you need to pay cross-chain fees are as high as. 10  Dollars.Click for details of the deal.

Stargate  The service fee is not deducted from the user's cross-chain amount, but requires the user to pay additional cross-chain fees, while the service fee of other cross-chain Bridges is directly deducted from the user's cross-chain amount. In this way, only the user's incoming amount is looked at. Stargate shows a higher amount of arrivals than other Bridges, but in terms of the total amount of money spent by the user, using nbsp. Stargate  The total cross-chain cost is still much higher than that of other cross-chain Bridges. Refer to the table below for specific costs. 1    3  .

Figure   1 Stargate  The cost information shown

Comparison of mainstream cross-chain bridge costs

Is contrast 5  A cross - chain bridge fee collection situation, the author statistics. ETH  And   USDC  Estimated cross-chain cost and estimated amount to account on the mainstream chain, where   ETH  The number of cross-chains is. 0.1 & have spent , 1  , 10  , 100  And   1000  . The number of USdcs across chains is   100  , 1000  , 1  V  , 10  Wanhe   100  Ten thousand.

Table   1  The assets are   ETH  Cross - chain cost and cross - chain account

注 1 ：/ 表示不支持该 Token 的跨链或者具有跨链金额限制不支持当前数量的资产转账；

Note 2  : Fee represents the total cost that the user needs to pay across the chain;

Note   3  : for clear description   Stargate  Due to the particularity of the project, the corresponding cost and received quantity of Stargate project have not been unified by the unit standard;

Note   4  : Expenses and receiving data are calculated according to the current situation.

Table   2 Assets are   ETH  Interchain cost competitiveness ranking

Note: Stargate  The ranking of ETH  is obtained by converting the corresponding data into a unified standard. It's calculated at the current price.

Table   1  For different amounts of assets   ETH  From   Arbitrum  To Ethereum, BNB Chain, Optimism  According to the collected information, the ranking of each cross-chain bridge is made to reflect the situation, see table   2  .

When   ETH  From   Arbitrum  Cross chain to   Ethereum, the amount is   0.1 & have spent And   1  , Across  And   Hop  Both charge the lowest, showing strong competitiveness;

Multichain,   Stargate and cBridge ranked third, fourth and fifth respectively in competitiveness. The amount is   10,   100  And 1000  When Multichain  The lowest charge, the most competitive, Hop, Across, Stargate, cBridge  Ranked second, third, fourth and fifth respectively.

When ETH  From   Arbitrum  Cross chain to   BNB Chain only Multichain  And   cBridge support   ETH  Across the chain. Multichain  In the amount of   0.1 & have spent And   1  Hourly rate ratio Low;   cBridge  In the amount of   10,   100  And 1000  Time rate than Multichain  Low.

When ETH  From   Arbitrum  Cross chain to   Optimism, when expressed in any amount, Multichain  All of the charges are the lowest, the strongest competitive performance; Hop  And   Across  The ranking changes between the second and third places, in the amount of   0.1,   10  And 100  When,   Across  Ranked second, Hop ranked third, in the amount of   1  And 1000  When, Hop  No. 2, Across  Ranked third; cBridge  And   Stargate  The ranking of changes between fourth and fifth place, in the amount of   0.1,   10,   100  And 1000  When,   cBridge ranked fourth and Stargate fifth, with a total of   1  Stargate was fourth and cBridge fifth.

Table 3    Assets are USDC's cross - chain charges and cross - chain arrival status

注 1 ：/ 表示不支持该 Token 的跨链或者具有跨链金额限制不支持当前数量的资产转账；

Note   2  : Fee  Represents the total cost that users need to pay across the chain;

Note   3  : for clear description   Stargate  Because of the particularity of the project, the corresponding cost and received quantity have not been unified unit standard;

Note   4  : Expenses and receiving data are calculated according to the current situation.

Table   4. Assets are the cross-chain cost competitiveness ranking of USDC

Note: Stargate  The ranking of ETH  is obtained by converting the corresponding data into a unified standard. It's calculated at the current price.

Table   3  For different amounts of assets   USDC  From   Arbitrum  To Ethereum, BNB Chain, Optimism  According to the collected information, the ranking table reflecting each cross-chain bridge is made. 4  .

When   USDC from Arbitrum cross chain to Ethereum, cross chain number is   100  And   1000  When,   Across  And   The cost of Hop in the cross-chain quantity is. 100  And   1000  When relatively few, showing strong competitiveness. The cross-chain quantity is 1  Ten thousand, ten   Wanhe   100  U  In the case of Multichain  The cost is low, the competitiveness is the strongest; The cost Across the country is higher and the competitiveness is weak; cBridge  With the increase of the number of cross-chain, the cross-chain cost decreases gradually, but the overall competitiveness is weaker than   Multichain. Hop  In   10  Eg. 100  In the case of ten thousand U, the cost is higher, the competitiveness is weak, in   1  V  U  The competitiveness of the case is relatively better, but it is still weaker than Multichain.

When   USDC from Arbitrum across the Chain to BNB Chain, only Multichain  And   cBridge  Support USDC  Cross-chain, Multichain  In   100  U  And   1000  U  Low cost, strong competitiveness, cBridge  In   1  V  U, 10  V  U  And   100  Eg. Eg. In this case, the cost is lower and the competitiveness is stronger.

When USDC crosses the chain from Arbitrum to Optimism, whether the number of cross chains is   100  , 1000  , 1  Wan, or nbsp; 10  Wanhe   100  Multichain  The lowest cost, showing the strongest competitiveness. Stargate  And   Across  The cost is higher and the competitiveness is weak.

Main conclusion

The author according to the table. 2    4  According to the ranking situation produced. 5  The market competition of each cross-chain bridge is shown in Table   6  .

Table   6. Cost competitive advantage of cross-chain Bridges

Note: Results only apply to the currencies and chains tried by the author.

From   ETH  And   USDC  The cross-chain situation of these two mainstream coins is comprehensive, in the   5  In the comparison of charges for each cross-chain bridge, whether it is a small cross-chain or a large cross-chain, Multichain  The charges have a strong competitive advantage. Has certain advantages in small cross-chain, in large cross-chain performance is medium, Across  The performance of small cross-chain is medium, and that of large cross-chain is medium and weak, cBridge  It was weak in small chain crossing and medium in large chain crossing, Stargate  The performance is weakest compared to other cross-chain Bridges.

To sum up, when the user conducts cross-chain transaction, the   Multichain  As the first option, its cross-chain charge has a strong comprehensive advantage, especially in the aspect of large cross-chain, and its cross-chain charge has more obvious advantages compared with other cross-chain Bridges. In the large cross-chain, that is, the cross-chain amount is about   1  Above ten thousand dollars, according to the charges in the previous table. Multichain  The proportion of large charges, as shown in the table   7  Is shown. As you can see, when the cross-chain amount is larger, the Multichain  Is going down, or staying the same.

Table   7 Multichain  The proportion of bulk charges across the chain bridge

Original link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia