Bitfinex Adds Stargate Finance to Its List of Tradable Tokens
Bitfinex, a state-of-the-art digital token trading platform, has launched new markets for Stargate ($STG), the native utility and governance token of the Stargate Finance ecosystem.
STG:USDT and STG:USD will be listed on Bitfinex in April. STG provides users with a variety of benefits, including as a reward for liquidity providers for funding Stargate Protocol operations, receiving veSTG after locking STG tokens and obtaining access to Stargate's governance token.
Stargate is a cross-chain liquidity protocol that enables dApps and decentralized finance (DeFi) participants to transfer native assets cross-chain. Designed to be a fully composable cross-chain bridge protocol, Stargate removes the need to rely on intermediate tokens and instead allows for the creation of smart contracts on destination chains with instant finality. With $2.31 billion total value locked (TVL) as of April 20, 2022 protocols such as Stargate aim to usher in the next generation of simplified cross-chain liquidity transfers that will only require a single transaction.
Stargate has seen tremendous success since its launch last month. According to comparative data from DeFi Pulse, Stargate has cemented itself as one of the top 10 DeFi projects.
"We're delighted to add Stargate Finance to the growing list of tokens available to trade on our platform," said Paolo Ardoino, CTO at Bitfinex. "We anticipate great interest in Stargate among the exchange's growing customer base."
Deposits of STG (ERC-20) opened on 21/04/22 at 12:00 PM UTC. Trading of STG will commence from 26/04/22 at 10:00 AM UTC. STG will be available to trade with US Dollars (STG/USD) and Tether tokens (STG/USDt).
The Stargate Foundation said that it was keen to choose Bitfinex as a listing venue for the STG token, given that it has led the industry for almost a decade and offers a seamless trading experience.
Stargate Finance supports multiple blockchain protocols, including Ethereum, BNB Chain, Avalanche, Optimism, Polygon, Arbitrum and Fantom.
Bitfinex provides a variety of services, including margin trading with up to 10x leverage, staking, as well as lending.
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