Token

Stargate Finance

LayerZero

Million

<ul class="list-ic vertical"> 
 <li> 1 <a>Stargate Finance is a cross-chain liquidity bridge built over LayerZero, making cross-chain token trading, more efficient and simple.&nbsp;</a> </li> 
 <li> 2 <a>STG improved interoperability between different blockchains and dApps and underwent several security audits to offer yield-earning chances.&nbsp;&nbsp;</a> </li> 
</ul> 
With the intention to help crypto network operations, LayerZero Labs developed a cross-chain liquidity bridge, STG, to enhance the interoperability between dApps and blockchains. The first cross-chain app was introduced in March 2022 and underwent several security audits to offer yield-earning opportunities. 
Let’s take a deep dive into the concept and its full working.&nbsp; &nbsp; &nbsp; 
<h2 class="wp-block-heading" id="strong-what-is-stargate-finance-strong">What is Stargate Finance?</h2> 
Stargate Finance is a fully composable native asset bridge, revolutionizing the previous complications in liquidity between layer 1 and layer 2 networks. It is a cross-chain liquidity bridge mainly developed to improve the functionality between different blockchains and dApps. The platform simply empowers users’ involvement with a broad array of dApps without considering the network origin. The bridge handles over $5 Million in transfers on a daily basis through a multi-chain liquidity protocol. 
Focusing on the features, it is one of the safest and most popular cross-chain bridges supporting a wide range of assets including ETH, USDT, USDC, WETH, DAI, BUSD, SUSD, and FRAX. Stargate Finance supports different networks including Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, and others, and charges a swap fee of 0.1% per trade. Along with these features, SYG is a safe platform as it has undergone audits from three main entities that are Zokyo, Zelliz, and Quantstamp. Also, the protocol is monitored and managed by multi-signatures making it safer to use. In addition, a two-phase security mechanism was introduced in the platform earlier this year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-how-does-stg-work-strong">How Does STG Work?</h2> 
STG platform supports the creation of other <a href="https://www.thecoinrepublic.com/2023/08/14/5-best-social-media-dapps-to-check-holding-highest-volume/" rel="noopener noreferrer nofollow">DApps and blockchain</a> networks and combines a variety of DeFi strategies to empower individuals. To work efficiently and offer the best services, STG includes multiple blockchain assets, liquidity pools, staking, and framing.&nbsp; 
Let’s take a look at the detailed working of STG.&nbsp;&nbsp; 
STG token transfer is one of the tasks carried out by the respective platform. The platform allows seamless swapping of native assets between different networks. Users need to pay a fee of 0.06% for swapping non-STG tokens. Token staking is another task operated by STG, enabling the community to vote for platform changes and individuals staking the tokens receive a governance token (vsSTG).&nbsp;&nbsp; 
Another major task carried out by the STG platform is framing, allowing users to take part in framing by holding LP tokens from pools. The framing system is much similar to staking and liquidity pools in terms of securing returns for providing liquidity to the pool. The process simply allows users to gain additional rewards.&nbsp; 
Liquidity pool is another major task operated by STG and offers accessibility to liquidity pools supporting the Stargate DEX. STG allows users to earn additional rewards in STG tokens. All these mechanisms in combination develop a cross-chain bridge protocol to boost liquidity, governance, and user involvement in the STG ecosystem.&nbsp; 
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion&nbsp;</h3> 
STG is a cross-chain liquidity protocol bridging the gap between blockchains and dApps to improve user experience. The overall functioning of the platform relies on some of the tasks including multiple blockchain assets, liquidity pools, staking, and framing.&nbsp;

Stargate Finance (STG): a Bridge Between Blockchain and DApps

Table of Contents

Thecoinrepublic.com

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