Stargate (STG) is a protocol designed to profit from liquidity transport. To explain, Stargate is a protocol that allows users to transfer assets across blockchains while accessing liquidity pools. The liquidity pools make money by earning interest.
For instance, they claim Stargate enables one-on-one cross-chain access to Stargate’s unified liquidity pools. Interestingly, they claim Stargate can make such transfers instantly. Pools add liquidity to Stargate’s Ominichain protocol.
They also claim Stargate enables users to earn stablecoin rewards on each Stargate transfer. Plus liquidity providers can use Stargate to farm liquidity protocol (LP) tokens to receive STG token rewards.Plus users can lock STG tokens to receive veSTG – the Stargate governance token.
What Value Does Stargate Offer?
Stargate (STG) claims to offer some value. For instance, Stargate claimed to have $3.411 billion in Total Locked Value on 29 March 2022.
Additionally, Stargate claimed to offer $296 million in Tether (USDT) liquidity through its Binance (BNB) pool on 29 March 2022. Additionally, Stargate’s Ethereum (ETH) pool claimed to offer $314.8 million in Tether (USDT) on 29 March 2022.
Plus, Stargate claimed to offer $625.540 million in USD Coin (USDC) liquidity through Ethereum (ETH) and $421.046 million in USD Coin (USDC) liquidity through the Matic pool on 29 March 2022. Plus, Stargate claimed to offer $351.418 million in BUSD (BUSD) liquidity the Binance Smart Chain on 29 March 2022.
How Stargate is supposed to make money
Interestingly, Stargate (STG) claimed the OP Optimism farm was offering a 16.67% annual percentage yield and $32.4 million in liquidity from USD Coin (USDC). Additionally, Stargate claims the Matic farm was offering a 15.81% APY and $321.1 million in liquidity from Tether (USDT) on 29 March 2022. Finally, a Binance (BNB) farm offered a 17.68% APY and $296 million in Tether (USDT) liquidity.
Hence, it appears Stargate is offering attractive returns from instruments people use, namely stablecoins. Stablecoins are cryptocurrencies that contain a smart contract that makes payments in fiat currency from bank accounts. For example, the USDT and USDC make payment in US dollars when people spend them.
They claim Stargate allows people to connect wallets to assets in pools for staking. Theoretically, Stargate allows people to farm LP tokens for STG rewards.
What Value does Stargate Finance Offer?
There is an enormous interest in Stargate Finance (STG). For example, Stargate (STG) was CoinMarketCap’s most trending cryptocurrency on 26 March 2022.
In contrast, CoinMarketCap named STG the 2,836th largest cryptocurrency on 29 March 2022. Similarly, CoinMarketCap gave Stargate a $2.87 Coin Price, a $2.865 billion Fully Diluted Market Cap, and a $43.944 million 24-Hour Market Volume on 29 March 2022. They based those numbers on a Maximum Supply and Total Supply of one billion STG.
In the final analysis, I think Stargate is an interesting cryptocurrency that offers some genuine value because it offers features that could make money from liquidity.
Note: Stargate has no apparent connection to the corny 1990s movie and TV show Stargate (SG-1). Instead, it appears to be just a token that contains a built-in liquidity protocol.
Yet I think successful liquidity protocol tokens could generate enormous amounts of money if they. Therefore, all speculators need to watch liquidity tokens such as Stargate carefully because they could be the next big thing in Fintech.
Originally published at https://marketmadhouse.com on March 29, 2022.
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