Why use the rhino bridge compared to other DeFi cross-chain bridges?
You can currently bridge with rhino.fi to all major L2s including Polygon POS, Polygon zkEVM, Arbitrum, Optimism, zkSync Era and Linea (in fact, over 250,000 users have used the rhino bridges since launch) and more L2 bridges will launch soon.
Use cases include the following:
- Speed.
- Privacy.
- Cost.
- Collating tokens before bridging.
- High bridging liquidity.
1. Speed
Withdrawals on rhino.fi are almost instant. If you need to move quickly between chains for arbitrage, airdrop hunting, yield farming or apeing, then this is the bridge that will get you there.
Even the fastest DeFi bridges are unable to match this speed. In fact, other crypto bridges can take between 30 minutes to 24 hours to move your funds between chains, often with very little visibility in the interim.
2. Cost
rhino.fi is one of the best value-for-money DeFi bridges between major Layer 2s.
The current rhino bridge fee schedule can be found here, and these fees cover the following:
- Gas fees on the destination chain for smart contract interactions.
- Liquidity Provider fees for borrowing a wide range of tokens on all the different chains that the Rhino bridge supports (socialisation). LP fees on chains such as Optimism and Arbitrum are higher, due to the seven-day native withdrawal cost.
- rhino.fi platform layer 2 infrastructure costs.
3) Withdraw to any address (Casual Privacy)
For Ethereum mainnet withdrawals you can select a different destination address to the one you deposited from. This is a great tool to help preserve your privacy, an advantage which is known as ‘casual privacy’.
At the moment, you can withdraw to other L2s (such as Arbitrum or Optimism) using the same address that you deposited from. But a simple workaround is to use the rhino ‘internal transfer’ (‘Send’) feature to send your funds to another rhino.fi account/address before withdrawing.
For more information on Rhino privacy, see this article
4) Collect all your funds in one place before withdrawing
Do you have funds on lots of chains that you need to bridge to one place? If so, you can deposit your tokens from their source chains to your rhino.fi account, and then withdraw all in one go – saving you time, as well as withdrawal fees.
As an added extra, you can swap your tokens on rhino gas-free once they are deposited to rhino.fi, before you withdraw to another chain.
This service is unique to rhino.fi. No other DeFi bridge allows you to do this.
5) Liquidity
The rhino.fi bridge has some of the best liquidity in DeFi, and this liquidity is constantly topped up.
Some DeFi bridges limit the amount that you can move in one go to small amounts (for example, only a few ETH, or even less), and they may also be so slow to rebalance/top-up that they actually limit you.
On the other hand, a centralised exchange might freeze your account or delay your withdrawal if you try to bridge between chains.
rhino.fi solves all of these issues.
rhino.fi allows you to withdraw up to a third (33.33%) of the total liquidity held in a rhino bridge contract at any one time.
To put that into perspective, there is normally over $4m of ETH, USDT, USDC and other tokens available at any one time in the Rhino Ethereum mainnet bridge smart contract alone.
This liquidity in the rhino bridge smart contracts is also quickly rebalanced (whenever possible) to make sure that the bridge smart contracts on other chains are constantly topped up.
Overall there is $6m serving the super-fast rhino.fi bridges at any one time – an unrivalled amount of long term & sustainable liquidity, which is not funded by inflationary rewards.
