{"id":420759,"date":"2022-03-24T09:51:26","date_gmt":"2022-03-24T06:51:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/stargate-finance-attracts-1-9b-in-six-days\/"},"modified":"2022-03-24T09:51:26","modified_gmt":"2022-03-24T06:51:26","slug":"stargate-finance-attracts-1-9b-in-six-days","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/stargate-finance-attracts-1-9b-in-six-days\/","title":{"rendered":"# Stargate Finance attracts $1.9B in six days"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33b0f1ccbc3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33b0f1ccbc3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/stargate-finance-attracts-1-9b-in-six-days\/#%E2%80%9D_Stargate_Finance_attracts_19B_in_six_days_%E2%80%9C\" >&#8221; Stargate Finance attracts $1.9B in six days &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Stargate_Finance_attracts_19B_in_six_days_%E2%80%9C\"><\/span>&#8221; Stargate Finance attracts $1.9B in six days &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYzE3MjBhODYtNDhjYS00ZTE2LThjNDgtOWI0ZWYzOTM3NDgzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Stargate Finance, a cross-chain protocol designed to assist users in transferring assets between different blockchains, has accrued over $1.9 billion in total value locked (TVL) in less than a week after launching.<\/p>\n<p>Stargate markets itself as a liquidity transport protocol that allows users to transact native assets cross-chain, offering decentralized finance (DeFi) users the option of staking stablecoins in pools where they are paid out in the native Stargate token (STG).<\/p>\n<p>The rapidly growing TVL is probably down to the &#8220;up to 26% APY&#8221; being offered farming stablecoin deposits.<\/p>\n<p>By attracting nearly $2 billion in TVL at the time of writing, Stargate has cemented itself as one of the top 10 DeFi projects, according to comparative <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.defipulse.com\/\">data<\/a> from DeFi Pulse.<\/p>\n<p>Stargate has a high-profile supporter in quantitative crypto trading firm Alameda Research CEO Sam Trabucco.<\/p>\n<p>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread to his 150,000 followers, Trabucco announced that Alameda Research had purchased all available Stargate tokens (STG) that were auctioned off during Stargate\u2019s launch on March 17. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There&#8217;s been some chatter about the recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/StargateFinance?ref_src=twsrc%5Etfw\">@StargateFinance<\/a> auction, and I wanted to clarify a few things about Alameda&#8217;s involvement.<\/p>\n<p>\u2014 Sam Trabucco (@AlamedaTrabucco) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AlamedaTrabucco\/status\/1506306851142615044?ref_src=twsrc%5Etfw\">March 22, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAccording to LayerZero, the protocol that Stargate runs on, 10% of the total supply of STG or 100 million tokens, were auctioned off to generate liquidity across the seven blockchains that Stargate is launching on. <\/p>\n<p>LayerZero protocol markets itself as an \u201cInteroperability protocol that actually works\u201d. <\/p>\n<p>According to a blog\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/stargate-official\/the-bridging-trilemma-d80788cce4ef\">post<\/a> from LayerZero Labs Co-founder and CTO, Ryan Zarick, the Stargate protocol solves something known as the \u201cBridging Trilemma\u201d by using unified liquidity pools between chains, instant guaranteed finality of transactions and the use of native assets for cross-chain swaps. <\/p>\n<p>Stargate plans to make it possible for any user to transfer assets from one blockchain to another one in a single transaction, skipping over the need for using complicated and convoluted methods such as locking, minting and burning and redeeming assets. <\/p>\n<p><strong>Related:<\/strong><strong> Vitalik Buterin gives thumbs down to cross-chain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications<\/strong><\/p>\n<p>The LayerZero team also announced that they had hired Maki, the co-founder of SushiSwap, to lead business development at Stargate.<\/p>\n<p>Stargate is currently live on seven primary chains including Ethereum, Polygon, Avalanche, BSC, Fantom, Optimism and Arbitrum. The LayerZero team plans to add support for other chains like Solana, Terra and Cosmos. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/stargate-finance-attracts-1-9b-in-six-days\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Stargate Finance attracts $1.9B in six days &#8220; Stargate Finance, a cross-chain protocol designed to assist users in transferring assets between different blockchains, has accrued over $1.9 billion in total value locked (TVL) in less than a week after launching. Stargate markets itself as a liquidity transport protocol that allows users to transact native&#8230;<\/p>\n","protected":false},"author":1,"featured_media":420760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYzE3MjBhODYtNDhjYS00ZTE2LThjNDgtOWI0ZWYzOTM3NDgzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75571,74894,78168,74983,74868],"class_list":["post-420759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-applications","tag-blockchain","tag-dapps","tag-decentralization","tag-defi"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/420759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=420759"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/420759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/420760"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=420759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=420759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=420759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}