Cross-chain liquidity protocol Stargate Finance launches on Bitfinex
Digital token trading platform Bitfinex has launched new markets for Stargate ($STG) – the native utility and governance token of the Stargate Finance ecosystem.
STG:USDT and STG:USD will be listed on Bitfinex in the coming days. STG provides users with rewards for liquidity providers for funding Stargate Protocol operations, receiving veSTG after locking STG tokens and obtaining access to Stargate’s governance token.
Stargate is a cross-chain liquidity protocol that enables dApps and decentralised finance (DeFi) participants to transfer native assets cross-chain. Designed to be a fully composable cross-chain bridge protocol, Stargate removes the need to rely on intermediate tokens and instead allows for the creation of smart contracts on destination chains with instant finality.
With $2.31 billion total value locked (TVL) as of April 20, 2022 protocols such as Stargate aim to usher in the next generation of simplified cross-chain liquidity transfers that will only require a single transaction.
According to comparative data from DeFi Pulse, Stargate has cemented itself as one of the top 10 DeFi projects – despite only being launched a month ago.
“We’re delighted to add Stargate Finance to the growing list of tokens available to trade on our platform,” said Paolo Ardoino, CTO at Bitfinex.
“We anticipate great interest in Stargate among the exchange’s growing customer base.”
Trading of STG will commence from tomorrow – April 26 – at 10am UTC. STG will be available to trade with US Dollars (STG/USD) and Tether tokens (STG/USDt).
Additional information can be found at https://stargate.finance/