Stargate – a cross-chain asset transfer protocol, may be experiencing an issue. PeckShield, a blockchain security company, reported that transactions on Stargate are currently experiencing severe delays. PeckShield advised users to temporarily suspend the use of Stargate for cross-chain money transfers until a fix is announced.
Subsequently, the Web3 security company ExVul also confirmed on the X platform that Stargate had been inactive for nearly 6 consecutive hours. Data recorded on the layerscan platform showed that around 25,600 transactions were being held up in the system, causing concern among many users.
The Stargate development team has also confirmed this information. They stated that the initial cause of the issue stemmed from errors in the Executors on the DVN network. Currently, the technical team of LayerZero, the developer of the Stargate platform, is actively working to resolve this problem.
Stargate Finance is a Cross-Chain Bridge project that allows users to transfer assets between blockchains and layer-2s. Through this, Stargate creates liquidity pools on the supported blockchains and thereby creates a network for the circulation of assets between these chains.
