$STG price went on a parabolic tear after cross-chain DeFi platform Stargate Finance attracted $2.95 billion in total value locked within two weeks of launch.
A community auction begins on March 30 and users that obtained pre-approval for their wallets or bonded funds before March 17 are eligible to SGT tokens at a price of $0.25. Tokens bought during the auction include a 1-year lock-up, followed by a linear unlock period that lasts 6 months.
Pre-approved accounts are able to purchase a maximum of 18,657 STG, while those that bonded can obtain up to 4,668 STG. Any tokens that remain after round 1 will be split equally and made available to buy in round 2 for those who obtained the maximum eligible amount during round 1.A third factor helping attract attention and users to Stargate Finance are the attractive stablecoin farming yields across its supported networks.The high yields on stablecoins have already managed to attract $2.
While it's still too early to tell how Stargate Finance will perform in the long term and whether or not its token price can hold its recent gains, it appears as though interoperability and a focus on stablecoin liquidity are two key factors required for DeFi protocols looking for longevity in the crypto ecosystem.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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