Stargate is a community-driven organization building the a fully composable native asset bridge (with unified liquidity + instant guaranteed finality), and claims to be the first dApp built on LayerZero. Stargate's vision is to make cross-chain liquidity transfer a seamless, single transaction process.
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. Applications can also compose Stargate to create native cross-chain transactions at the application level. For instance, a yield aggregator can compose Stargate to deploy assets cross-chain, opening up new APY opportunities.
To understand better about Stargate and LayerZero, please read below articles:
- Stargate Finance - the prosperous future of blockchain interoperability (March 28, 2022)
- Buidl on LayerZero - the emergent cross-chain DeFi applications (December 1, 2022)
Stargate Finance was started by LayerZero Labs in 2022 March. LayerZero exists as an omnichain interoperability protocol.
- Bryan Pellegrino - cofounder and CEO of LayerZero Labs.
- Ryan Zarick - cofounder and CTO of LayerZero Labs.
- Caleb Banister - cofounder of LayerZero Labs.
$STG is part of the governance system of Stargate. Users can earn $STG by adding liquidity to ERC-20 token pools supported by Stargate, which will earn them LP tokens. In exchange for adding LP tokens to a farm, users receive $STG rewards. These $STG rewards can be staked to earn $veSTG, the Stargate protocol's governance token.
