What is StarGate Finance (STG)?

Stargate is a community-driven organization building the first fully composable native asset bridge, and the first dApp built on LayerZero. Stargate’s vision is to make cross-chain liquidity transfer a seamless, single transaction process.

Stargate is the first and only bridge to solve the Bridging Trilemma, unlocking seamless composability, and enabling the wrapping of all existing DeFi applications. Stargate’s liquidity generation event began on March 17th leading off with an auction followed by Stargate going live with a simultaneous bonding curve and all funds raised during the event will be owned by the protocol.

With Stargate live on all seven chains users will be able to swap Stargate-enabled assets freely between the chains allowing for everyone to participate in bonding everywhere. The bonding curve will last for 72 hours and the remainder of the tokens will be returned to the protocol.

STG will be the first Omnichain Fungible Token (OFT), a native token that can freely move between all chains LayerZero exists; thus, the first step towards an omnichain future. 

All rebalancing fees accrued are cumulatively sent to a reward pool that will be disbursed to any user who makes a “refilling” transaction, with the amount disbursed proportionally to how close the post-transaction balance returns to the ideal target balance. 

The Bridging Trilemma

The Bridging Trilemma is a fully composable native asset bridge with unified liquidity and instant guaranteed finality built on top of LayerZero.

The bridge has three attractive features which guarantee instant finality. It guarantees funds on the destination chain when a transaction is successfully committed on the source chain. Also, on the bridge, there is shared access to a single liquidity pool between multiple chains. In addition, it holds user-desired assets (native or most liquid synthetic) on the destination chain.

The Bridging Trilemma has three properties in which designers are currently forced to choose only one or two. The bridging Trilemma has three architectures constraints which are: Lock + Mint and Burn + Redeem.

A synthetic asset bridged using a lock+mint and burn+redeem mechanism achieves instantly guaranteed finality since assets are minted on the destination chain having no chance of reversion due to lack of liquidity. Unfortunately, users receive a synthetic asset and have to swap it for the asset they need.

Why the Trilemma Bridge?

A bridge could also be designed using pools of native assets with unified liquidity, meaning a single USDT pool on Chain A and additional pools on Chains B-F. All chains share access to each other’s liquidity resulting in orders of magnitude greater capital efficiency vs. pairwise pools. However, this also means that if Chain A sends a transaction to Chain C requesting $X it’s possible that some of the other chains get there faster and drain Chain C or put it in a state of not being able to fulfill Chain A’s request. 

This creates a cumbersome process for both the user and developers trying to implement applications across this bridge. Handling reversion requires bridges to let the user manually revert the state (painful), collect enough gas upfront from the user (expensive and inefficient), or finance the reversion costs themselves. 

None of these are great options, and the latter exposes them to an attack vector of spammed transactions to a drained pool. This solution without the added benefit of Instant Guaranteed Finality will always struggle to achieve the true nature of composability that it aims for.

 

Who are the founders of StarGate Finance (STG)?

The CEO and Co-founder of StarGate Finance are Liat Queen Sheba. She has years of experience in leading IT international project implementation in Israel, Europe, Asia, and Africa (in the past 10 years). She also develops new technology for fintech companies in Africa, especially Zambia as her focus. 

 She possesses massive managerial experience in a Global Dynamic environment, leading cross-organizational projects, high technical skills in software and infrastructure area, and acts as a solution & integration manager for management, operational and financial needs. Professional knowledge and hands-on experience in motivating teams, Matrix management, Planning, controlling, and delivering results on time.

 

What is a StarGate Finance (STG) used for?

Swapping tokens

DeFi users can swap native assets cross-chain on Stargate within a single transaction. For example, users can swap USDC on Ethereum for USDT on BNB.

Create native cross-chain transactions

Applications compose Stargate to create native cross-chain transactions at the application level. For example, your favorite DEX can compose Stargate to complete single transaction cross-chain swaps (i.e. swapping AVAX with ETH in a single transaction, all within your favorite DEX’s user interface.) Your favorite yield aggregator can compose Stargate to deploy assets cross-chain, opening up new APY opportunities.

Transfer

Use Stargate to transfer native assets across blockchains. Users can use transfer to swap 1:1 native asset across different chains. Example: Swap USDC on Ethereum for USDT on BNB.

Voting

From time to time, a vote may require a change to the Stargate protocol or its treasury that requires action via multi-sig. A multisig of trusted groups of community that is responsible for signing on behalf of STG holders and must strictly adhere to any directives given via the governance process. 

 

What makes StarGate Finance (STG) unique?

With the Bridging Trilemma solved, we no longer need the lock & minting of synthetic assets or have fragmented liquidity. Instead, we can simultaneously have deep pools of native assets tied to all chains, creating orders of magnitude greater capital efficiency. 

LPs will be able to stake into a singled-sided asset pool with no impermanent loss and collect fees from all incoming transfers regardless of their source chain. Users no longer need to swap out undesirable synthetics on the destination chain or have a scenario where a transfer fails due to state change.

Concerning transfer or transaction fees, you can also use Transfer to move STG tokens cross-chain. There is no protocol transfer fee associated with these swaps. The user will only pay gas fees associated with these transactions.

Each non-STG token transfer has a .06% fee. Additionally, Stargate transfers may incur a pool rebalance fee depending on how imbalanced the source & destination transfer pools are concerning pool equilibrium weights. STG tokens transfers do not incur a pool rebalancing fee.

More on transfer fees

Stargate offers users the option to specify an amount of native gas from the Source Network and delivered it to the Destination Network when completing a transfer.

When performing a transfer, click on the Advanced Settings in the top right corner of the Transfer window. Users can specify the amount of Destination Gas they wish to receive. There are four options the user can choose:

  • None: No native gas will be included in the Transfer 
  • Default: This amount will be enough to perform a couple of transactions (e.g. Approve and Swap) based on the average gas price on the Destination Network at that time. 
  • Maximum: The protocol has set a maximum delivery amount. 
  • Custom: The user will be able to specify between None and the Maximum amount.

Once the user initiates and approves the transfer in their wallet, the specified native gas amount to be delivered on the Destination Network will be shown and included in the total gas cost of the transaction. Users should expect to see higher than normal gas costs for this transaction as this is all bundled together.

 

How many StarGate Finance (STG) coins are in circulation?

1 billion STG have been minted at the genesis and will be the entire finite supply of STG. The initial three-year allocation is as follows:

17.50% – Stargate core contributors (1-year full lock-up, 2-year linear unlock thereafter).

17.50% – Investors (1-year full lock-up, 2-year linear unlock thereafter).

65.00% – Stargate community allocation, dedicated to fulfilling the protocol’s vision: make cross-chain liquidity transfer a seamless, single transaction process. Here’s the breakdown of the community allocation:

15.00% – Stargate protocol launch.

10.00% to STG launch auction purchasers.

5.00% to an STG-USDC pool on Curve.fi.

15.95% – Bonding Curve, post-launch.

2.11% – Initial emissions program.

Up to 1.55% will be added to DEXs on BNB, Avalanche, Polygon, Arbitrum, Optimism & Fantom

The remaining 30.39% is dedicated to future community initiatives & the long-term success of Stargate.

 

How is the Stargate Network secured?

Algorithm

The ideal bridge would have all three properties of the Bridging Trilemma but unfortunately, all existing bridges have been forced to choose only one or two.

Introducing the Delta (Δ) algorithm, a novel resource balancing algorithm that enables unified native asset pools on all chains while also providing Instant Guaranteed Finality. Delta (Δ) is the first algorithm capable of solving the Bridging Trilemma. 

 

How do I buy StarGate Finance (STG)?

The STG token can be used for a wide range of uses like staking and voting.

STG tokens can be easily purchased by the following steps. 

* Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy STG through your trading account.

 

Which Cryptocurrency Wallet Supports Stargate Finance (STG)?

The PTPWallet platform supports many cryptocurrencies simultaneously, such as StarGate Finance (STG). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their STG wallet because it offers a simple interactive interface, making it easy for people to navigate its system.

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