1/ With the recent bridge hacks we are in serious need of safer alternatives if we are to strive for a cross chain future - Let me present @StargateFinance. A short thread on the L0/bridge Stargate & how you can earn 20% APY on stables like $USDC π§΅
2/ Stargate $STG is a cross chain bridge that allows you to swap stablecoins and access defi farms cross chain in an easy, scalable & secure way! Read more about the in depth features of the protocol in this great thread by @kamikaz_ETH:
3/ Stargate eliminates the need for vulnerable bridges and wrapped assets by providing native cross chain liquidity. The token $STG launched a few days ago and has seen a substantial pump. In the meantime Stargate has already locked up over $3.5bil in liquidity - That's insane!
4/ The protocol is further backed by @AlamedaResearch which if you are unfamiliar is one of the largest crypto investment/trading firm. They have bought a huge amount of the current supply which you can read more about here:
5/ So how can we use this protocol? As mentioned you can swap stablecoins across blockchains like Avalanche, Fantom, Ethereum, Arbitrum & BSC with high finality & low fees.
6/ You can single sided deposit stablecoins like $USDC $USDT or $BUSD to provide liquidity to the bridge and earn swap fees. You can also stake this lp for ~ 18-20% on your stables depending on the pool. I am currently in the $USDC pool on Fantom. (Rewards paid in $STG)
6/ There's further rumours that an integration of $UST from Terra is just a few weeks away which could draw more liquidity to the platform and further be a bullish catalyst for $STG.
7/ So is $STG a good investment? Who knows, I believe that the cross chain narrative is strong long term and $STG alongside with $RUNE are my two top plays for this narrative. Read more about the tokenomics of $STG here:
8/ If you liked this thread make sure to give the first tweet a like & retweetβ€οΈ. Also let me know if you have any questions!
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