Bitfinex, a peer-to-peer crypto exchange, has launched new markets of the native utility and governance token of the Stargate Finance ecosystem, Stargate ($STG).
The listing of STG: USDT and STG: USD is scheduled for April. Users can have the benefits such as a rewarding liquidity provider for funding Stargate Protocol operations, getting access to the governance token of Stargate, and receiving veSTG after locking STG tokens.
A cross-chain liquidity protocol, Stargate allows dApps and decentralized finance (DeFi) participants the transfer of native assets cross-chain. Stargate eliminates the dependency on intermediate tokens, enabling the development of smart contracts on destination chains with instant finality.
Along with new markets for Stargate ($STG), Bitfinex has also launched the first decentralized applications (DApp) built over LayerZero.
Stargate has cross-chain composability that enables a cross-chain transfer to be composed with smart contracts on the destination chain.
Stargate has a $2.31 billion total value locked (TVL) as of April 20, 2022. The goal of Stargate is to lead in the next generation of simplified cross-chain liquidity transfers for which only a single transaction is enough.
Since its release last month, Stargate has experienced massive success. It doesn’t end here, Stargate has become one of the top 10 DeFi Projects, as per the comparative data from DeFi pulse.
Paolo Ardoino, CTO at Bitfinex, shared his excitement about the launch of Stargate Finance in the expanding list of the available tokens for trading on their platform. “We anticipate great interest in Stargate among the exchange’s growing customer base,” Arduino adds.
The trading of STG started at 10:00 AM UTC on 26/04/22. Users will be able to trade STG with US Dollars (STG/USD) and Tether tokens (STG/USD).
According to the Stargate Foundation, Bitfinex was a natural choice for listing the STG token considering its decade-long experience in the crypto industry and, in addition, provides a seamless trading experience.
Stargate Finance has support for various blockchain protocols such as Avalanche, Optimism, Ethereum, BNB Chain, Arbitrum, Fantom, and Polygon.
Bitfinex offers a variety of services such as staking, lending, and margin trading with up to 10x leverage.
About Bitfinex
Bitfinex is a cryptocurrency exchange that offers services to digital token traders and global liquidity providers around the world. Founded in 2012, Bitfinex consists of advanced trading features and charting tools. Besides, it provides access to an OTC market, peer-to-peer financing, and financed trading for a variety of crypto assets.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/04/27/bitfinex-launches-new-markets-for-stargate-finances-governance-token-stargate-stg/