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Stargate Finance (STG) - cryptocurrencies designed to solve the blockchain trilemma, mentioning that no blockchain can be decentralized, secure and fast simultaneously.
https://www.trubit.com/pro/crypto-spot-trading/STG/USDT
Stargate Finance (STG) represents a native Omnichain asset bridge, created specifically to address the blockchain trilemma, which states that a blockchain cannot be decentralized, secure and fast at the same time.
This innovative solution simplifies DeFi transactions between different chains, allowing users to transfer and exchange their assets virtually instantaneously between different blockchains, layer 2 networks and decentralized applications (dApps). With Stargate Finance, interoperability barriers are overcome and the efficient movement of assets in the blockchain ecosystem is facilitated.
The key feature of Stargate Finance (STG) is its design focused on cross-chain composability. This enables transfers between different chains to be seamlessly combined with smart contracts on the destination chain.
Stargate Finance (STG) was built by the company LayerZero (Labs), in order to better develop its omnochan protocol, which enables better interaction of crypto networks in the world.
It was in March 2022 when the protocol was launched as the first cross-chain bridging application, adding developer 0xMaki to give it an important insight.
The project provides an instant guarantee of finality, ensuring that any transfer request confirmed on the source chain is automatically reflected on the destination chain. In addition, thanks to unified liquidity, the need for intermediate tokens is eliminated, as each supported chain has a liquidity pool for supported native assets. This significantly simplifies and streamlines the process of transferring assets between different chains, improving efficiency and facilitating a seamless experience for users.
Unlike most pre-existing cross-chain bridges, which use what is known as "fractured liquidity," which implies the need for separate pools for tokens crossing the bridge, Stargate takes an innovative approach through a blockchain, mint and burn + swap mechanism.
This mechanism essentially burns tokens on the source chain and mints new ones on the destination chain, eliminating the need for separate pools and overcoming the challenges of fractured liquidity. As a result, Stargate ensures instant finality and unified liquidity for cross-chain transfers, providing a more efficient and secure experience for users.