Stargate Finance (STG) is a crypto project that pioneered the blockchain trilemma concept. Launched in 2022, this crypto project allows users to experience flexibility in the DeFi ecosystem. Currently, Stargate Finance is ranked 329th at the global level according to Coinmarketcap.com with market capitalization reaching IDR 1.6 trillion and daily transaction volume reaching IDR 514 billion on Wednesday (13/12).
This article will discuss in more detail what Stargate Finance is, how it works, what features it has, and an overview of its tokenomics. Let's take a look!
What is Stargate Finance
Stargate Finance is a liquidity protocol created specifically to address the blockchain trilemma, namely the three main problems of blockchain networks which include decentralized, secure, and fast.
Stargate aims to simplify cross-chain DeFi transactions, allowing users to transfer and exchange their assets between various blockchains, layer-2 networks, and decentralized applications (dApps) almost instantly.
Users can also move their assets between various liquidity pools on various DeFi protocols and dApps. This protocol supports transfers between various blockchains, including Ethereum, Avalanche, Polygon, Metis, BNB Chain, Arbitrum, Optimism, and Fantom.
In general, Stargate Finance is a platform that allows users and decentralized applications (dApp) to transfer crypto assets from one blockchain to another easily. You can imagine exchanging money from one currency to another, but in a more modern crypto context.
How Stargate Finance Works
Stargate Finance has a unique way of working compared to several other blockchain interconnection applications.
Stargate uses lock+mint and burn+redeem mechanisms . This mechanism will burn tokens at the source and mint new tokens on the destination blockchain, providing assurance of instant finality and sufficient liquidity. Stargate also uses an advanced cross-chain bridge mechanism and a balancing algorithm called the delta algorithm to overcome the bridging trilemma.
The governance and utility token of Stargate Finance is STG. By staking STG, token holders can receive veST, the Stargate voting escrow token. The protocol uses a time-based reward system that increases the amount of $veSTG earned by staking holders over time.
Who is the Founder of Stargate Finance
Stargate Finance (STG) is a crypto project created by LayerZero Labs, a renowned omnichain protocol company. Launched in March 2022, the project is designed as the first inter-blockchain bridge application.
Key Features of Stargate Finance
Below are the four main features that Stagate Finance (STG) has:
1. Fast and Efficient Token Transfer
This feature allows users to exchange assets between blockchains without complexity. With cross-chain swap, users can directly exchange tokens from BNB Chain to Ethereum or vice versa. Stargate DEX makes cross-chain asset swap transactions easier. Transfer fees for STG tokens are zero, while non-STG tokens incur a 0.06% fee.
2. Liquidity Pool for Additional Income
Stargate Finance provides access to liquidity pools , where users can provide liquidity and earn rewards as Liquidity Providers (LP). To engage in these activities, users simply connect a crypto wallet , select a liquidity pool, and earn LP tokens in return. Rewards in the form of stablecoins and LP tokens can be exchanged at any time, providing flexibility for users.
3. Farming for Extra Profits
Users can maximize their profits by using LP tokens effectively. Yes, Stargate Finance provides a farming feature, allowing users to farm LP tokens from Pools to earn additional rewards in the form of crypto assets.
4. Staking in Governance
Through a decentralized governance model, Stargate Finance allows community members to vote on proposals for platform changes. By staking STG tokens, users will earn veSTG, the governance token of the Stargate network. Users can earn higher rewards if they hold their assets longer.
Tokenomics
STG is the native token in the Stargate Finance ecosystem. Apart from transactions on the platform, this token can also be used for decision making through a voting mechanism, staking, and participating in farming to gain additional income from the DeFi ecosystem.
This crypto asset has a total supply of 1 billion tokens and the number of STGs in circulation to date (12/13) is around 204.3 million STGs.
The Stargate Finance (STG) token allocation at the initial token launch is as follows:
- 17.50% for Team
- 17.50% for Investors
- 15.00% for Protocol Launch
- 15.95% for Bonding Curve
- 2.11% for Initiation Emissions Program
- 1.55% for Bonding Curve DEX
- 30.39% for Community
Interestingly, the STG token allocation is divided into certain periods and will be fully allocated to the market in 2025. Below is the detailed supply schedule for Stargate Finance (STG).
How to Buy STG Tokens on Bittime
After reading a complete review of what Stargate Finance is, are you interested in buying and investing in this crypto project? You can buy STG tokens on the best crypto exchange platforms in Indonesia, one of which is Bittime. STG is available on Bittime in STG IDR pairing .
To be able to buy STG tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance to buy STG tokens. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can make STG purchases in the application. Click for a more complete guide on how to buy STG on Bittime.
Monitor today's price chart movements for Stargate Finance (STG), Bitcoin, Ethereum, Solana and other cryptos to find out today's crypto market trends in real-time on Bittime.
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