Stargate is a decentralized exchange focused on native cross-chain asset swaps and has actually solved the bridging trilemma. In April this year, it launched its governance token STG which when staked will have users' power to vote on governance decisions.
STG tokens have a max supply of 1,000,000,000 (1 billion) and users were allowed to mint upon launch. Assuming all minters are still holders, we shall run a brief analysis on the amount of STG mint based on two categories; whales and fishes.
Generally, whales are wallets with large funds and fishes are the opposite. For the context of this research, we shall define a whale as any wallet to have minted at least 1,000,000 $STG tokens. Fishes are wallets with less than 1,000,000 minted $STG tokens. Why 1 million tokens? Because 1M represents 0.1% of the total supply and any trade in such an amount could cause a swing in prices.
Before we get the division between fishes and whales, we want to know the total number of wallets that participated in the mint. Our query tells us that 435 unique Ethereum wallets participated in minting $STG.
Next, out of this number, how many are whales, and how many are fishes?
As you can see there are 3 whales representing 0.69% and 432 fish representing 99.3%