🌟 Stargate is a community-led protocol that is currently developing the world’s first fully composable native asset bridge and a dApp that is constructed on LayerZero technology. The ultimate objective of Stargate is to create a frictionless and instantaneous process for transferring cross-chain liquidity through a single transaction.
🚀 Stargate is a unique project that addresses the bridging trilemma, a common challenge faced by existing bridges. Unlike other protocols that are compelled to make compromises on essential bridge features, Stargate is created to overcome this issue by providing these main attributes:
1. Instant Guaranteed Finality.
2. Native Assets.
3. Unified Liquidity.
🌐 At the moment Stargate supports many blockchains such as Ethereum, BNB, Avalanche, Polygon, Arbitrum, Optimism, Fantom, etc.
Step-by-step guide:
1) 🔐 Connect your wallet if you haven’t already done so.
2) 🥮 The next step is to choose which token and on which chain you are going to farm. After going to the “Farming” tab, you can immediately see the APY and liquidity for each farm. If you scroll down you can see much more assets available, but at the top are the best according to APY.
❗️ If you don’t have any tokens on the chain you have chosen, you can transfer them with a low fee directly on this site by going to the “Transfer” tab.
3)💰 After you have the token on the network of your choice, head over to the “Pool” tab.
Here you are going to choose the coin from the previous step (i.e. USDT on the Ethereum chain) and add tokens to increase liquidity in the pool.
💸 Now, you have LP tokens and every time a liquidity pool is used for transactions you will earn stablecoin rewards.
❗️ You can reclaim your funds at any time, by tapping the “Remove” button.
4)👷 What comes next, go to the “Farming” tab on the navigation bar and select the farm you have chosen in the second step. Now you can supply some or all of your LP tokens to stake.
🎉 After confirming the transaction in your wallet, you are already earning rewards in STG tokens.
❗️ Unstaking is just as easy as staking, click the “Unstake” button and do the whole process in reverse.
5)👋 Finally, you can head over to the “Stake” tab and lock some of your STG tokens to collect veSTG, which are then used as Stargate’s governance token.
6) 💼 After you staked STG Token, you can engage in Stargate DAO governance by using an account that holds vote-escrowed STG (veSTG) on the Snapshot platform.
❗️ Monitor their DAO page for new proposals to be active on Stargate and LayerZero.
In conclusion, Stargate is a revolutionary protocol that creates a fully composable native asset bridge and a dApp using LayerZero technology. Following the simple steps outlined above, you can easily use Stargate to start earning rewards in STG or stablecoins depending on the number of tokens you contributed to the pool and the current APY.
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