Introduction

Stargate Finance is an omnichain liquidity transport protocol. With Stargate, users and dApps can transfer native assets cross-chain while accessing the protocol’s unified liquidity pools.
STG is the native token of the project. The current use cases for STG include:
- Staking: STG holders can lock their STG tokens to receive veSTG, Stargate’s governance token.
- Governance: veSTG received by staking STG can be used for voting, the longer the staking period, the larger the voting power staker will receive.
The project consists of the following major components working in conjunction:
- Transfer: users can swap 1:1 native assets cross-chain and have instant guaranteed finality.
- Pools: liquidity providers can add liquidity to Stargate’s omnichain protocol and earn stablecoin rewards on every Stargate transfer.
- Farms: Stargate liquidity providers can farm their LP tokens in exchange for STG rewards.
- Delta Algorithm: a novel resource balancing algorithm that leverages unified cross-chain liquidity to enable a new class of cross-chain bridge that deals purely in native assets while still maintaining instant guaranteed finality.
As at Aug 22th 2022, the total token supply and maximum token supply of STG is 1,000,000,000. The current circulating supply is 133,272,369 (~13% of the total token supply). [1]

Methodology

This dashboard consists of three main parts . in the first sector, you can find General information such as number of transactions and users as total, daily and cumulative.in the following , the Deoisit and Withdraw actions were compared , investigated and analyzed based on the tokens used and also number of transactions and users over time. Third part presents information about bridging actions using Stargate focusing on two paths (to/from optimism) . In the last part , Stargate is compared and analyzed on different chains. hope you enjoy it !

General Stats

Observations

According to the graphs and results obtained, it is clear that the number of users as well as their interactions with this platform in optimism has increased significantly over time. However, there have been ups and downs along the way that may have been influenced by various factors.

But the general trend has been upward. The TVL of this platform has also increased from around $43M in April 2022 to around $25M in recent days. There has been a terrible drop in TVL as well as the number of users of the platform in Optimism in mid-January 2023, from above $50M to below $9M.

Deposits and Withdraws

Bridging

Stargate in different chains

**Observations **

Bridging is one of the most important (and perhaps the most important) uses of Stargate in different networks. Therefore, it has been examined exclusively in this section. According to the obtained results, the amount of Bridging in Both paths has been increasing until December and then decreasing. In general, the share of INFLOW to Optimism using this platform has been relatively higher than OUTFLOW.
Looking at the 7 and 100 days moving average , in can be concluded that , the bridging amount in both directions is increasing compared to latest days, but in terms of long time period , it still needs more time to change the situation.
- What does a moving average tell you?
  
  A moving average (MA) is a stock indicator commonly used in technical analysis, used to help smooth out price data by creating a constantly updated average price. A rising moving average indicates that the security is in an uptrend, while a declining moving average indicates a downtrend. [3]
The pie chart on the left side shows that users interacted more with Hop protocol, Stargate Finance and Synthenix after receiving tokens through this platform.

1 billion STG have been minted at genesis and will be the entire finite supply of STG. The initial three year allocation is as follows: [2]

Observations

According to the graphs of Weekly Stargate finance Events and users by Event Type, which exclusively deals with Deposit and Withdraw related to this platform in Optimism, it is clear that the amount of deposit was much more than withdrawal.

Also, the amount of deposit has been increasing until December and then decreasing.

USDC is the most important token that users use to deposit to Stargate with 58 %. Followed by SGETH with 8.76% and STG with 5% of all transaction value $.

Conclusion

Interchain technology has become one of the main needs of the world of blockchain and digital currency, and one of the important projects in this field is LayerZero. The first protocol built on the LayerZero platform developed by the same team is Stargate Finance, which enables the transfer of tokens between 7 Ethereum chains, Phantom, Polygon, Avalanche, Arbitrum, Optimism and BNB Smart Chain natively.

Stargate is also integrated into two decentralized exchanges, Pancake Swap and Sushi Swap.

In this article, what is the Stargate protocol, how it works and some of its services were discussed. Also, Stargate's bridging actions focusing on two paths (to/from optimism) and Stargate in different chains were analyzed and investigated.