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 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. And with our BONUS tip, you may also be eligible for potential Bungee, Socket, zkSync and LayerZero airdrops too!
- LayerZero ($ZRO) Token Airdrop Guide
- zkSync ($ZKS) Token Airdrop Guide
- Socket token airdrop guide
- Bungee Token Airdrop Guide
Stargate Finance ($STG) Airdrop Step-by-Step Guide
Here’s how to receive a potential Stargate Finance ($STG) token airdrop:
- Add liquidity to pools.
- Farm LP tokens.
- Stake your STG tokens to receive $veSTG.
- Vote on governance proposals.
- BONUS: Get Bungee, Socket, zkSync and LayerZero airdrops with Stargate!
See below for more details.
What is Stargate Finance?
Stargate Finance allows DeFi users can swap native assets cross-chain with a single transaction. For instance, users can swap USDC on the Ethereum network for USDT on BNB. Key features of Stargate Finance include:
- Instant Guaranteed Finality: Users and applications can be sure that when they send a transaction on the source chain, it will be securely and quickly transferred to the destination chain.
- Native Assets: People and programs can trade in native assets instead of wrapped assets, which require extra trades and fees.
- Unified Liquidity: Having access to a single pool of liquidity that can be used across multiple chains gives users and applications that trust in the bridge’s dependability a greater amount of liquidity.
What is Stargate Finance ($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.
Will Stargate Finance airdrop its Arbitrum $ARB airdrop to their users?
Recently Stargate DAO has confirmed they will receive around 1.6 million Arbitrum tokens ($ARB) from their latest airdrop.
As a result, there is a governance proposal being put forward to share 75% the airdropped $ARB tokens received by Stargate DAO. The remaining 25% will be reserved for future Stargate DAO users. These airdropped $ARB tokens will be given proportionally to veSTG holders. But excluding team/ investors accounts. The good news is that the proposal was passed with over 80% voting “yes” to the proposal.
Here’s how to be eligible for the Arbitrum $ARB token airdrop on Stargate:
- Your wallet must have voted at least on 15 snapshot proposals on Stargate DAO since inception.
- Wallet must have either conducted at least 5 transactions to or from Arbitrum (not necessarily via Stargate bridge) before 6th February 2023, or provided any amount of liquidity into Arbitrum on Stargate before 6th February 2023.
If you aren’t eligible for this Arbitrum airdrop, do not worry! The passed proposal also states that 25% of the Arbitrum token airdrop will be used for future Stargate DAO users. However, details of how these remaining tokens will be used have not been released yet.
Learn more about the Arbitrum airdrop and whether YOU could be eligible here.
How to receive a potential Stargate Finance ($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.
Time needed: 45 minutes
Here’s how to receive a potential airdrop from Stargate Finance.
- Add liquidity to pools
Adding liquidity to Stargate’s pools allows you to receive LP token rewards. To do this, connect your wallet to Stargate and go to the Pool tab. Choose an available pool, type in the amount of liquidity you wish to add and click “Approve”. Follow the instructions on your wallet to approve the transaction. To remove liquidity, simply go onto the “Remove” tab, enter the amount you wish to remove and click “Remove Liquidity”. Choose the asset and network you wish to redeem your liquidity.
- Farm LP tokens
You can farm your LP tokens in exchange for $STG rewards. Collect your LP tokens by removing your liquidity in step 1 above. You can then farm your LP tokens to get $STG rewards. To get $STG rewards, go to the “Farming” tab and choose a farm. Type in the amount of tokens you wish to stake and click “Get LP Token”. Approve the transaction in your wallet. To unstake, go to the “Unstake” tab, select the amount you wish to unstake and click “Remove”.
- Stake your STG tokens to receive $veSTG
$veSTG is used for governance voting on Stargate. To stake your $STG, go to the “Stake” tab and choose the amount of $STG you wish to stake.
- Vote on governance proposals
Click on “Vote on Snapshot” or go to Stargate’s Snapshot page. Connect your wallet by clicking “Join”. Check what proposals are up for voting and cast your vote.
- BONUS: Get Bungee, Socket, zkSync and LayerZero airdrops with Stargate!
Use the Stargate route on Bungee to position yourself for potential Bungee, Socket, zkSync and LayerZero airdrops! Check here for our guide.
Stargate Finance $STG token airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Stargate Finance has not confirmed a token airdrop yet. But they have passed a proposal to airdrop the Arbitrum ($ARB) tokens that were given to Stargate Finance to its users.
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.