Stargate Bridge- A Farewell to Bridges

tldr: bridges are dead, long             live bridges

       

           

                                                                                   

       

   

The omnichain universe is here to stay, but the         infrastructure is fragmented. For bridging, the focus is on user driven asset movement between chains. Although         this sounds like an intuitive approach, it’s actually far from practical. For example if you want to yield         farm on a hot new chain you must swap your assets to a bridgeable asset, bridge, and then farm all in a 20+         click multi-transaction session. In an ideal world you could swap, bridge and farm all in one transaction from         the source chain.

       

           

                                                                                   

       

   

Introducing Stargate, the first and only bridge to solve         the Bridging Trilemma, unlocking seamless composability; enabling the wrapping of all existing DeFi         applications. For example, the video below shows how you could wrap Stargate and Uniswap to perform an any asset         to any asset swap in a single click between chains.

Launch

In two days (March 17th), Stargate’s liquidity         generation event begins, leading off with an auction followed by Stargate going live with a simultaneous bonding         curve. All funds raised during the event will be owned by the protocol.

Auction

       
• Starts 12pm EDT March 17th, 2022 on https://stargate.finance
       
• 100M STG tokens available (10% of total supply) [MetaMask & WalletConnect             supported]
       
• Auction ends when $25M USDC has been purchased or after 48 hours have elapsed,             whichever comes first, making the maximum price per token $0.25
       
• At the end of the auction the 100M STG is frozen for 12mo followed by 6mo             linear unlocking for participants
   

       

           

                                                                                   

       

   

Assuming the auction is sold out within the 48 hours,         the collected $25M will be paired with an additional 50M STG and be immediately put into a Curve v2 pool,         pricing the token at $0.50/STG with $50M of liquidity depth.

Bonding Curve

Upon conclusion of the auction, Stargate and the bonding curves will go live on all seven chains (Ethereum,         Polygon, Avalanche, BNB Chain, Fantom, Arbitrum and Optimism). Assuming the auction phase ends at the hard cap,         bonding curves will run from $0.50 - $1.50.

       

           

                                                                                   

       

   

With Stargate live on all seven chains you will be         able to swap Stargate enabled assets freely between the chains allowing for everyone to participate in bonding         everywhere. The bonding curve will last for 72 hours and the remainder of the tokens will be returned to the         protocol.

       

           

                                                                                   

       

   

STG

This will conclude the liquidity generation event         providing depth for STG on AMMs and protocol owned liquidity for Stargate. STG will be the first Omnichain         Fungible Token (OFT), a native token that can freely move between all chains LayerZero exists. This is the first         step towards an omnichain future. Welcome home.