Native LSD Bridge

LST NOFT

NOFT stands for Native Omnichain Fungible Token, a concept proposed by LayerZero. It allows for the wrapping of any existing ERC20 token to enable cross-chain transferability. The principle is that you need to lock your ERC20 token into the NOFT contract on the original chain, then you can mint the corresponding amount of NOFT on the target chain to complete the cross-chain transfer. When you need to transfer back, you will destroy the NOFT on the target chain and redeem your original ERC20 token on the source chain. Essentially, once you own NOFT on any chain, you can convert it back to the original ERC20 token on the source chain at any time. This is a fantastic innovation as it means that any existing ERC20 token can be given cross-chain capabilities.

NOFT is entirely immutable and fully decentralized, no one can control the ERC20 tokens deposited within it. Therefore, holding NOFT is as safe as holding the original ERC20 token

Wrap LST NOFT and Bridge on Iguru Finance

You can wrap LST (like wstETH/rETH/fraxETH/cbETH/bETH) into its corresponding NOFT version and bridge it to layer2 with one click at iguru finance, after that you can directly deposit the corresponding NOFT into the relevant vault and stake it in the respective gauge on the LSD/Farm page to start earning mining rewards.

Please note that since many LST profits are distributed daily, to avoid short-term arbitrage, there will be at least a 0.05% service charge each time you withdraw, and this fee will also be allocated to voters.

When users withdraw LST-NOFT, the amount they can take out will be calculated based on the value of ETH recorded at the time of deposit. The amount of ETH users can withdraw will remain the same as the amount of ETH corresponding to the time of deposit. We use the ChainLink rate Oracle to calculate the exchange rate between LST assets and ETH, which means you can always go to the corresponding official contract to exchange for the appropriate amount of ETH.

Iguru NOFT Swap

To facilitate user operations, we have directly deployed NOFT/ETH pair so user can directly swap NOFT to ETH without having to bridge it back and get back ETH. the NOFT/ETH pair will charge 0.5% fees to encourage more LPs, 80% of the fees are distributed to LPs and 20% are distributed to iguru finance Treasuary.