Stargate, the bridging protocol, is here with another airdrop. It works through staking, and the rewards are in STG tokens.
In this article, we will delve into Stargate Finance’s STG Token airdrop details, and we will go through a step-by-step guide to claim the tokens. Also, we are going to cover the eligibility criteria, benefits, trustworthiness of Stargate, and more details.
What is Stargate Finance?
Stargate is a community-driven organization that focuses on functions between blockchains. Their cross-chain functions include asset transfer, staking, and other activities. Stargate Finance is the first dApp built on LayerZero.
With Stargate, users can swap assets between blockchains, add liquidity to the pool to earn stablecoin rewards, farm their LP tokens, and they can stake their coins for rewards. DeFi users can swap native assets within the Stargate in a single transaction. The native token of the ecosystem is STG.
The STG Token
STG is Stargate Finance’s native token. It can be staked to get veSTG. The veSTG is the token used for governance and other activities throughout the ecosystem. Here are some more details:
Token Ticker | $STG |
Contract Address | 0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6 (Ethereum) |
Total Supply | 1,000,000,000 STG |
Market cap | $76,501,628 |
Launch Date | 01/03/2022 |
How Stargate STG Airdrop Works?
Stargate airdrop works basically through staking. You can lock your STG tokens to receive veSTG. veSTG is Stargate’s governance token. The longer you stake the STG tokens, the more veSTG you will receive.
Is This Airdrop Free?
This airdrop works through staking, and you need a significant amount of STG tokens to stake. Also, you may have to spend some of your tokens as a gas fee. If you don’t own STG tokens, transferring them from an exchange also will cost you some bucks.
Things to Do Before Staking
It is important to have some STG in your wallet to stake. You should buy your desired STG tokens from an exchange, or the official site of Stargate Finance, and transfer them to your crypto wallet. There are no other eligibility criteria for claiming the airdrop.
Step-by-step Guide to Claim Stargate Airdrop
- Visit Stargate Finance: Visit the official site of Stargate Finance. Double-check that you are in Stargate V2, an updated version of their ecosystem.
- Connect Wallet: Navigate to the top right corner to connect the wallet. You can connect with five wallets: Coinbase Smart Wallet, Metamask, WalletConnect, Taho Wallet, and Ronin Wallet.
- Navigate to Stake: After confirming the signature request and successfully connecting the wallet, navigate to the Stake option.
- Choose a Staking Pool: Now choose your desired staking pool from the list of available pools.
- Stake STG Tokens: After choosing the pool, enter the amount of STG you want to stake and confirm the transaction signature request.
- Earn Rewards: Now you will start getting veSTG tokens as rewards. More STG you stake the more veSTG you receive. Also, the longer you stake the STG tokens, the more veSTG you will receive.
Is There Any Way to Convert the veSTG Tokens?
The sad part is that, outside the Stargate ecosystem, veSTG has no uses. veSTG is the unit of Stargate governance voting power. This is used for voting. With this token, you can get hold of voting decisions regarding all aspects of the network. More veSTG means more power in the whole Stargate Finance network.
As we said, veSTG t is received by staking locked Stargate tokens and is non-transferable. When you start unstacking your staked STGs, the amount of the veSTG tokens gradually decreases.
Is Stargate Staking Airdrop Trustable?
Yes, the Stargate Foundation is a trustable venture. The platform is led by committed users across various communities inside and outside. However, the use case of rewards you get through staking is up to you. If you are interested in engaging with a cross-chain asset bridge with unified liquidity and instant guaranteed finality, then this is the only platform you can delve into.
However, before doing anything instinctively, it is important to study their whitepaper deeply. Go through their blogs to get an idea. Also, engage in Stargate Foundation’s social media communities to get a clearer understanding.
Final Thoughts
The Stargate Foundation is a decentralized ecosystem dedicated to the growth, development, and sustainability of blockchain technology. They do it by giving shared access to a single liquidity pool across multiple chains. It creates deeper liquidity for users & applications.
It is an advanced protocol and through this staking airdrop opportunity, you can learn & earn within one of the finest cross-chain ecosystems. Anyway, do deep research before staking your valuable assets. Thank you for reading, and good luck. Happy airdropping.
Read more: How To Claim Cuckoo Network (CK) Airdrop; Launch Date, Benefits, & More