Stargate Finance is working to create a bridge between different digital assets. This bridge will allow users to easily transfer and use digital assets across different platforms. Stargate is also developing the first decentralized application (dApp) to be built on LayerZero, a blockchain-based platform. This will enable users to access a wide range of services and applications in a secure and efficient manner. Stargate Finance has already launched their token, but there is hope they may distribute any airdrops (e.g. Arbitrum airdrop) they receive back to their community. So it is well worth using the protocol for a chance for a potential airdrop. Here’s a guide on how you can be eligible for a Stargate Finance token airdrop.
Learn more about a potential LayerZero token airdrop with our LayerZero ($ZRO) Token Airdrop Guide.
Stargate Finance ($STG) Airdrop Step-by-Step Guide
Here’s how to receive a potential zkSync token airdrop:
- Add to Stargate Finance’s pools to receive $STG token rewards.
- Stake your STG tokens to receive $veSTG.
- Participate in governance voting.
See below for more details.
What is Stargate Finance?
Stargate Finance allows DeFi users can swap native assets cross-chain with a single transaction. For instance, users can swap USDC on the Ethereum network for USDT on BNB. Key features of Stargate Finance include:
- Instant Guaranteed Finality: Users and applications can be sure that when they send a transaction on the source chain, it will be securely and quickly transferred to the destination chain.
- Native Assets: People and programs can trade in native assets instead of wrapped assets, which require extra trades and fees.
- Unified Liquidity: Having access to a single pool of liquidity that can be used across multiple chains gives users and applications that trust in the bridge’s dependability a greater amount of liquidity.
What is Stargate Finance ($STG) token?
$STG is the native token of Stargate Finance. Those that add LP tokens to a farm on Stargate Finance will be able to receive STG rewards. These STG rewards can then be further staked to earn veSTG. veSTG is used for governance voting. The total supply of STG is 1 billion and there is currently 160,615,339 STG in circulation.
How to receive a potential Stargate Finance ($STG) token airdrop?
Stargate Finance has not announced any Stargate Finance $STG token airdrops. However, the Stargate Finance team has confirmed in their Documentation that 30.39% of their total STG token supply will be dedicated to future community initiatives. Nevertheless, there is a potential for Stargate Finance users to receive a token airdrop from its ecosystem projects.
Recently Stargate DAO has confirmed they will receive around 1.6 million Arbitrum tokens ($ARB) from their latest airdrop. As a result, there is a governance proposal being put forward to share the airdropped $ARB tokens relative to VeSTG token holders (i.e. users that bought and locked STG). But excluding team/ investors accounts. It is also proposed that the tokens will be distributed on the respective Arbitrum chain of every wallet. The good news is that the response to this proposal seems to be positive. And with competing projects such as Rage Trade promising to forward any airdrops they receive to the community, there is added pressure for Stargate Finance to reward its loyal users with an airdrop.
Learn more about the Arbitrum airdrop and whether YOU could be eligible here.
Here’s how to receive a potential airdrop from Stargate Finance.
- Add to Stargate Finance’s pools to receive $STG token rewards.
- Stake your STG tokens to receive $veSTG.
- Participate in governance voting.
The proposal is that Arbitrum tokens will be distributed relative to VeSTG voting power based on a snapshot of VeSTG holdings from February 6th (i.e. the date of Arbitrum’s snapshot for their airdrop). So new users may not be eligible for this round of airdrops. However, if this proposal is successful, it will nevertheless open the door for more similar airdrops in the future!
Stargate Finance $STG token airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Stargate Finance has not confirmed a token airdrop yet. But there is a popular proposal for its users to be airdropped the Arbitrum ($ARB) tokens that were given to Stargate Finance.
Airdropped Token Allocation: 30.39% of their total STG token supply will be dedicated to future community initiatives. However, there is no mention whether any of that will be distributed through airdrops.
Airdrop Difficulty: There is no announcement on Stargate Finance airdrops or their eligibility yet. However, to get an airdrop of the proposed Arbitrum ($ARB) tokens, users must hold $veSTG. This requires adding liquidity and staking- simple tasks for most airdrop enthusiasts.
Token Utility: The $STG token is rewarded for adding liquidity to their pools.
Token Lockup: Check the Stargate Finance documentation for information on token lockups.
