Stargate Finance

Stargate Finance (STG) is a native-to-all-chains asset bridge specifically created to tackle the blockchain trilemma, which proposes that a blockchain can't simultaneously be decentralized, secure, and fast. The platform addresses this by making cross-chain DeFi transactions simpler, allowing users to transfer and swap assets across various blockchains, layer-2 networks, and decentralized applications (dApps) almost instantaneously.

Users of Stargate can seamlessly move their assets among different liquidity pools on a range of decentralized finance (DeFi) protocols and dApps. This protocol facilitates transfers across eight chains: Ethereum, Avalanche, Polygon, Metis, BNB Chain, Arbitrum, Optimism, and Fantom.

The platform also provides multiple profit-generating opportunities: users can contribute to liquidity pools, stake their assets, and engage in token farming. When they stake their assets, they can also participate in the governance of the Stargate Finance Exchange.

Stargate Finance was developed by LayerZero Labs, an omnichain protocol aiming to enable interoperability among the largest crypto networks.

The platform was launched in March 2022 as the first application for cross-chain bridging. On the very same day, the well-known crypto developer 0xMaki became part of the LayerZero team.

Many existing cross-chain bridges rely on what's known as fractured liquidity, necessitating separate pools for tokens crossing the bridge. In contrast, Stargate eliminates this need through a lock+mint and burn+redeem system. This system effectively destroys tokens at their origin and creates new ones on the target blockchain, ensuring immediate guaranteed finality and unified liquidity.

Additionally, Stargate employs an advanced cross-chain bridge mechanism and a balancing algorithm known as the delta algorithm to overcome the bridging trilemma.

$STG serves as the native governance and utility token for Stargate Finance. This token can be staked, used to provide liquidity, or participate in protocol governance. By staking $STG, holders earn $veSTG, which is Stargate’s voting escrow token. The protocol uses a time-weighted reward model that increases the amount of $veSTG accrued by stakers as they lock in their tokens for extended durations.

The total supply of $STG is 1 billion tokens, with about 168 million tokens currently in circulation as of March 2023.

Stargate Finance’s STG is accessible on nearly 50 different centralized and decentralized exchanges, including platforms like Binance, Coinbase, KuCoin, and Kraken. It is also available on decentralized exchanges (DEX) such as Uniswap and PancakeSwap.