Author:
Hart Lambur
Translation: Deep Tide TechFlow
Conclusion
For regular L2 to L2 transfers, Across Protocol is clearly the fastest and cheapest cross-chain bridge. For regular ETH to L2 transfers, Across is much faster and cheaper than Stargate’s fast bridge, and Across is roughly on par with Stargate’s slow bridge in terms of cost (but Across is 20 times faster). For regular L2 to ETH transfers, Across is much faster and cheaper than Stargate’s fast option, although it is slightly more expensive than Stargate’s slow option, Across is 100 times faster.
Analysis
In the past few days, @PrimoridalAA accused me of selecting favorable data when comparing our cross-chain bridges. I believe the best response to this is to develop a method to explain the meaning of “cheaper” and then see who wins.
My approach is: for regular bridging transactions, which bridge is the cheapest? Due to the significant differences in transaction volume and fees for L2 to L2, ETH to L2, and L2 to ETH transfers, I will examine these cases separately. For the selection of L2s, I suggest we look at the three largest ones: Arbitrum (Arb), Base, and Optimism (OP).
Here is the rolling average of L2 to L2 bridging transaction volume for the past 30 days, measured using Across and Stargate data:
The average transaction volume for L2 to L2 bridging is approximately $55 or about 0.015 ETH. (Note that the average volume is trending downwards; we will discuss this in detail later.)
So, which bridge is cheaper for moving 0.015 ETH between L2s? This should answer the question of which bridge is cheaper for regular bridging transactions between L2s.
The answer is: Regardless of which L2 the 0.015 ETH is transferred between, Across is cheaper and faster than Stargate.
I just bridged 0.015 ETH from Base to OP. The results are as follows:
Across took 4 seconds and cost 1.1 cents.
Stargate’s fast option took 50 seconds and cost 5.6 cents.
Stargate’s cheap option took 1 minute and 2 seconds and cost 3.0 cents.
I’m sure I’ll be accused of cherry-picking Base to OP, but honestly, check any route for 0.015 ETH and you’ll see that Across is clearly cheaper and faster in any L2 to L2 case! There’s no doubt about it.
Conclusion: Across is clearly the fastest and cheapest cross-chain bridge for regular L2 to L2 transfers.
Next, let’s look at the data for ETH to L2 transfers.
Here is the rolling average ETH to L2 transaction volume for the three largest L2s for the past 30 days, measured using Across and Stargate data:
The average transaction volume for ETH to [Arb, Base, OP] is around $100 for Across and $400 for Stargate. Let’s take the average as $250, or about 0.06 ETH.
Now let’s bridge 0.06 ETH from ETH to OP.
The results are:
Across took 28 seconds and cost 2.6 cents.
Stargate’s fast option took 4 minutes and cost 5.5 cents.
Stargate’s cheap option took 9 minutes and 40 seconds and cost 2.2 cents.
Across is much cheaper and faster than Stargate’s fast option. Compared to Across’ cheap option at 2.6 cents, Stargate is 2.2 cents, but Across takes 28 seconds while Stargate takes 9 minutes and 40 seconds.
As for whether the cost difference is worth the speed difference, I leave it up to the market to decide. Similarly, you can try it for yourself.
Finally, let’s look at the data for L2 to ETH transfers.
Here is the rolling average L2 to ETH transaction volume for the three largest L2s for the past 30 days, measured using Across and Stargate data:
The average transaction volume for Across to ETH [Arb, Base, OP] is around $700, and for Stargate, it is around $200. Let’s take the average as $450 or about 0.06 ETH.
Now let’s bridge 0.06 ETH from ETH to OP.
The results are:
Across took 4 seconds and cost 5.41 cents.
Stargate’s fast option took 2 minutes and 12 seconds and cost 16.80 cents.
Stargate’s cheap option took 6 minutes and 34 seconds and cost 4.41 cents.
Again, Across dominates Stargate in terms of speed and cost. Stargate’s slow option is slightly cheaper, but it takes 6 minutes and 34 seconds, while Across only takes 4 seconds.
Where will the battle of cross-chain bridges go?
I believe that as the next billion people enter the cryptocurrency space, they will (1) almost exclusively use L2 (or alt-L1) and (2) transaction volumes will continue to decrease. Across is already the cheapest and fastest bridge in L2 transfers, and with smaller transaction volumes, Across’s intent-based architecture will continue to dominate.
Stargate’s slow option may save some costs when transacting with the Ethereum mainnet, but the compromise in speed is evident. I think whether it is worth sacrificing speed for marginal cost savings should be decided by the market.
In any case, users are the ultimate winners in this “battle of cross-chain bridges,” and I’m sure crypto Twitter users are at least somewhat interested in the debate between me and my brother Bryan.