Stargate Finance (STG)

Cross-Chain Asset Transfers

Stargate Finance allows users and decentralized apps to transfer native crypto assets instantly and securely across more than 70 blockchains. This means you can swap tokens like USDC on Ethereum for USDT on Binance Smart Chain in one simple step without needing wrapped tokens.

Unified Liquidity Pools

It provides a shared liquidity pool that works across multiple blockchains. Liquidity providers can add funds to these pools and earn stablecoin rewards on every transfer made through the protocol.

Native Asset Bridge

Unlike other bridges that use wrapped or synthetic tokens, Stargate Finance supports direct transfers of native assets with instant guaranteed finality, reducing delays and simplifying cross-chain swaps.

Token Utility

The STG token is used for governance, staking, and providing liquidity. Users can stake STG to earn rewards and participate in decisions about the protocol’s future.

Developer Use

Developers can build omnichain decentralized finance (DeFi) applications using Stargate’s API, enabling seamless cross-chain value movement and liquidity sharing.

For more details, visit stargate.finance.

Pros

• Cross-Chain Support: Connects 70+ blockchains, enabling instant and secure transfers of native assets across many networks.
• Unified Liquidity Pools: Uses shared liquidity pools for efficient asset movement and reduced bridging costs.
• Low Fees: Cross-chain swap fees can be as low as 0.06%, making it cost-effective for users.
• Instant Finality: Transfers are guaranteed instantly on the destination chain, improving speed and reliability.
• DeFi Features: Offers liquidity provision, farming, and staking opportunities with APYs ranging roughly from 5% to 18%.
• Governance: Users can participate in decentralized governance by staking STG tokens to receive voting rights.
• Strong Ecosystem: Integrations with many blockchains and projects, plus ongoing expansions and updates.

Cons

• Limited Asset Variety: Supports a narrower range of assets compared to some other platforms, which may limit options for users wanting diverse tokens.
• Liquidity Pool Risks: Unified pools can face pressure from multiple withdrawal requests, requiring algorithmic controls to maintain balance.
• Market Competition: Faces competition from other cross-chain bridges and DeFi protocols, which may affect user growth and token demand.

For more details, visit stargate.finance.

Founders of Stargate Finance

• Stargate Finance was launched by the team at LayerZero Labs.
• The co-founders are Bryan Pellegrino, Caleb Banister, and Ryan Zaric.
• Liat Queen Sheba is also noted as a CEO and co-founder associated with Stargate Finance, particularly in the fintech lending space in Zambia.

These individuals and the team at LayerZero Labs created Stargate Finance to enable seamless, cross-chain transfers of native crypto assets.

Investors in Stargate Finance

• Initial Investors: Stargate Finance had a significant early investment from Alameda Research, which purchased 10% of the total token supply before launch.
• Token Allocation: About 17.5% of the total STG tokens were allocated to investors with a lock-up period and gradual unlocking over two years.
• Community and Contributors: Besides investors, 17.5% went to core contributors, and a large portion (around 65%) is allocated to the community for long-term growth.
• Liquidity Providers: Many users who stake stablecoins and provide liquidity also act as investors by supporting the protocol and earning rewards.
• General Market: Since launch, thousands of crypto investors have participated, contributing to over $1.9 billion in total value locked (TVL) shortly after launch.

For more details, visit Stargate Finance website.

Halal Status of Stargate Finance

• Yes, Stargate Finance can be considered halal based on available Islamic finance assessments.
• It is a cross-chain liquidity protocol that facilitates asset transfers without involving interest (riba) or gambling (maisir).
• The project focuses on decentralized finance (DeFi) infrastructure and governance, which aligns with halal investment principles when avoiding prohibited activities.

For more detailed analysis, you can visit Islamic finance review sites that evaluate crypto projects from a halal perspective.