Key Points
- Stargate Finance (STG) is up by 72% today.
- The team behind the project announced Stargate V2, DeFi’s cheapest bridge is live.
Stargate Finance (STG) is up by 72% today and the token is trading at $0.85.
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The total market cap of the token is over $175 million at the moment of writing this article.
Via their X account, the team behind the project announced Stargate V2 and “DeFi’s cheapest bridge” is now live.
On May 28, the team at Stargate Finance announced Stargate V2 Pools and Incentives that went official live. Users were able to deposit their liquidity into V2 pools.
They were also announcing the 24-hour countdown to DeFi’s cheapest and most interoperable bridge.
🔥 Stargate V2 Pools & Incentives are officially live 🔥
Users can now deposit their liquidity into V2 Pools at: https://t.co/nUXa6ZhnIu
The 24-hour countdown to DeFi’s cheapest, and most interoperable, bridge starts now 🕐
— Stargate (@StargateFinance) May 28, 2024
On the same day, the team behind the project also announced that Stargate V1 was operating normally, immutable, and permissionlessly on 12 chains. They also noted that incentives were slowly being wound down as per mandate.
They also revealed Supported Networks and Assets – a page that = is a consolidated list of all the underlying ERC20 contract addresses that are used within Stargate’s Pool.
What is Stargate Finance?
Stargate Finance (STG) is an omnichain-native asset bridge that was designed to solve the blockchain trilemma, which said that no blockchain could be decentralized, secure, and fast simultaneously.
It does this by simplifying cross-chain DeFi transactions that allow users to transfer and swap their assets between various blockchains, layer 2 networks, and dApps almost instantly.
Stargate users can also move their assets between different liquidity pools on various DeFi protocols and dApps.
The protocol supports transfers between eight chains: Ethereum, Avalanche, Polygon, Metis, BNB Chain, Arbitrum, Optimism, and Fantom.
The platform also offers other features for profit:
- supplying liquidity pools
- staking assets
- farming tokens
The project’s token STG is available on centralized and decentralized exchanges.
