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Stargate Finance (STG): A Liquidity Transport Protocol for DeFi Apps

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Stargate Finance (STG): A Liquidity Transport Protocol for DeFi Apps

Stargate Finance (STG), an innovative liquidity transport protocol, offers new cross-chain opportunities for users and dApps’ developers.

What is STG?

Stargate Finance (STG) offers swap opportunities for native assets during cross chain operations. Any transfer submitted is guaranteed as being completed to the final destination. Holders have an opportunity to farm their LP tokens in order to receive stablecoin rewards for liquidity provision. Rewards can be provided in STG tokens, thus contributing to their higher adoption by a broader crypto community. Staking opportunities are also present, and by staking their STG tokens, holders can receive additional veSTG. Stargate Finance can also be described as an asset bridge with new liquidity and guaranteed finality functionality built above LayerZero. The further development of Omnichain DeFi will be closely associated with the active utilization of STG initiatives.

STG’s current price equals $2.17 with its circulating supply remaining publicly unknown. At the same time, its maximum supply is limited to 1 billion tokens, indicating the potentially high expansion of tokens’ supply in the following years. Although the information about its market capitalization is not publicly available, CoinMarketCap has assigned the 2853rd rank to STG among all cryptocurrencies that are currently available in the market. STG reached the historically maximum price in the beginning of April of 2022 (about $4.3), while it should be noted that the STG token has become publicly available on exchanges only since the middle of March. Considering the current developments of the DeFi segment, it constitutes one of the most commercially and technologically promising projects in the market.

Stargate Finance (STG): A Liquidity Transport Protocol for DeFi Apps - 1
Figure 1. KuKoin’s Announcement of STG Listing; Data Source – CoinDar

Investing in STG: Pros and Cons

The long-term potential of investing in STG depends on the following major factors: the development of the entire DeFi segment; demand for cross-chain transactions; Stargate Finance’s ability to offer proper farming and staking opportunities; and its reliability as compared with the major competitors in the market. At the moment, Stargate Finance demonstrates a considerable potential for the further growth and development, but it still should maintain the highest rates of innovativeness in the industry. Technical analysis may be needed to properly evaluate all major opportunities and risks in the short run, including potential entry points for long investment positions.

Stargate Finance (STG): A Liquidity Transport Protocol for DeFi Apps - 2
igure 2. STG Support and Resistance Levels; Data Source – CoinMarketCap

The major support level is at the price of $1.9 as it corresponds to one of the local minimums reached within the past month. The major resistance level is at the price of $3.1 that refers to one of local peaks, and STG may be able to overcome it in case the overall crypto market’s dynamics is positive. Otherwise, the token may still follow the general trend of the DeFi segment. Finally, there is one more resistance level at the price of $4 that is close to the historically maximum levels. After STG’s price exceeds the first resistance level, long-term investors can reliably open long positions in anticipation of the rapid growth in the following weeks.

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