Stargate Finance Review

Stargate Finance Review

Daniel Chan

May 20, 2022

Cryptocurrency

What is Stargate Finance?

Stargate Finance is an advanced decentralized cryptocurrency exchange that brings excellent opportunities for those in the crypto world. Stargate Finance is a liquidity transport protocol that not only allows users to transfer native assets but also to add liquidity to pools, farm LP tokens and stake their assets to earn the right to govern the exchange. Stargate Finance features a straightforward format and layout, and users can get started with them quickly. All they have to do is connect their wallet to start using the services offered by Stargate Finance.

As the exchange primarily focuses on stable coins, the risk of losing money is inherently low, and users can earn a great deal through the platform’s liquidity pools and farming features. Stargate Finance also claims that the total value locked on the exchange is above $1 billion, indicating the number of users who have invested their money on the platform and their level of trust. The exchange also offers complete transparency to users by providing them with white papers, documents and a community to help them with their concerns.

  • Deposit Methods: Cryptocurrency only
  • Deposit Fees:  Only network gas fee
  • Withdrawal Fees:  Only a gas fee is charged when withdrawing assets

My Overall Thoughts on Stargate Finance

Stargate Finance is a great place for professional and even amateur investors who want to play it safe but still get the most out of their investments. Due to its focus on stable assets, Stargate Finance reduces the risk of losing money and provides users with a safe environment to invest in. You only need to know what liquidity pools are and how farming works, and you can start investing your assets on Stargate Finance.

Stargate Finance also provides community support to help their users out and solve their problems. One-click wallet connections and the hassle of signing up make it even easier to get started with them instantly. But look below to find out what I consider to be the best about the platform.

1) You can join a variety of liquidity pools and farms:  Despite supporting only three different stable assets, Stargate Finance offers a variety of liquidity pools and farms to invest your assets in. This is because the platform supports different crypto networks, like Ethereum, BNB, Avalanche, Polygon and Fantom. Users can check out any of these networks, along with the returns they offer, and then invest their money with ease.

2) The platform offers great overall returns:  Keep in mind that the returns on stable assets are usually lower than the returns on high-volatility assets. Stargate Finance offers excellent returns on stable coins when farming and adding liquidity to pools. You can expect up to 6% or even more depending on overall market conditions.

3) You can earn STG and veSTG rewards Investors on Stargate Finance are rewarded with STG, the platform’s native token, when they add liquidity to pools or farm their LP tokens. They can also stake those STG rewards in order to get veSTG rewards and earn voting power to govern the exchange.

Stargate Finance needs to add additional stable assets to the exchange if it wants to increase diversity. It also needs to add more crypto wallets, as the platform currently supports only two wallets, and it can be hard for many users to create new wallets and transfer their funds.

Key Features and Advantages of Stargate Finance

Stargate Finance is a decentralized exchange with liquidity pools and farming features, which means it offers relatively more benefits than a traditional crypto account or bank account can. Of course, liquidity pools come with their own risks, but your investment can be worth it if you choose a stable asset with suitable returns. This is where Stargate Finance can help, as the platform focuses solely on stablecoins.

You can also farm tokens and govern the exchange if you earn voting rights, and you can easily swap or exchange assets through the Stargate Finance portal. So you can better understand these and the other features of the exchange, I have created a list outlining them below:

Negatives and Disadvantages of Stargate Finance

Before you proceed to invest your money with Stargate Finance, make sure you know what their disadvantages are. It may save you some trouble down the road.

What Services Does Stargate Finance Offer?

Stargate Finance mainly focuses on four services: swapping or trading assets, investing in liquidity pools, farming tokens and staking tokens to earn governance rights. These features include some great benefits for ordinary investors. They improve your experience not only in terms of returns but also in terms of user-friendliness and security.

While Stargate Finance does not have the best diversity when it comes to assets, pools or farms, it aims to provide a safe and flexible environment for investors. Read more about the benefits and services of Stargate Finance below:

Swap tokens with slippage adjustments:  Users can swap tokens on Stargate Finance through a variety of cryptocurrency networks. This service makes it easy to transfer funds from a different network or simply exchange an asset for another one. The platform also allows users to adjust the slippage and so reduce the risk of the transaction failing, which can be quite expensive.

This feature is convenient because you will not have to hassle yourself with other exchanges in order to obtain assets that are usable on Stargate Finance.

Several liquidity pools on different networks:  Stargate Finance offers access to several liquidity pools hosted on different crypto networks. Users can add liquidity to any of them, depending on the assets they own. This service allows users to diversify their investments. As the platform offers only stable assets liquidity pools, users are awarded the same stable assets to expand their portfolios.

When you divide your assets across different liquidity pools, you lower the chance of impermanent loss, helping ensure that your investment is safe and sound.

Quick wallet connections:  Users on Stargate Finance can quickly and easily connect their crypto wallets to the exchange. This means users can access and start investing or depositing their funds without wasting any time. The process is a single click and does not require users to have prior knowledge.

Token farming:  If you have provided liquidity to the platform’s pools, you can farm your LP (liquidity pool) tokens and earn STG in exchange. STG is Stargate Finance’s native token. You can hold onto STG to receive other benefits or you can simply swap it with other assets in order to withdraw funds into your crypto wallet.

This feature can help you create an income stream and get continuous rewards for your investments.

Exchange governance:  STG tokens can be staked and earn you veSTG, the platform’s tokens that are used for governance. Users who hold veSTG tokens can vote on different aspects of the exchange and make changes with the agreement of other governing users. The “ve” in “veSTG” stands for voting escrow, which means your STG tokens are locked while you use them to have voting power on Stargate Finance.

Having governance rights is a great benefit because it means you have the voting power to adjust rules and regulations that you don’t like.

Up to 6% APY:  Stargate Finance offers up to 6% APY through farming, which is more than what you can earn through other crypto platforms on stable assets. It’s also higher than traditional bank accounts, which offer less than 1% returns on fiat currencies.

With a high APY, you can earn a handsome amount at the end of the investment period. Just remember that returns vary from time to time.

Beginner-friendly platform:  Stargate Finance is a very beginner-friendly platform with an easy-to-explore user interface. It is no trouble to access the features and options available on the platform. Even amateur users can easily examine and utilize the platform’s options. You will not have to watch long tutorials or read guides or articles just to perform easy tasks like swapping, farming or adding liquidity to the pools.

Massive community:  Stargate Finance is a community-built cryptocurrency exchange that prioritizes its users over everything. To help users have a good experience, the platform sponsors a few community platforms where usual users can get in touch with each other.

Such community forums help users get their problems solved efficiently. They do not have to wait for customer support, as active users within the community can usually answer queries. Posting in a community also allows users to get a variety of opinions and thoughts from different people, broadening their views.

You can connect with other Stargate Finance users through several social platforms, including Discord, Telegram and Twitter.

Full transparency and documentation:  Stargate Finance is a transparent crypto platform. Everything available on the platform is documented and defined for users to check out. This aspect builds trust among the users, making them willing to invest their hard-earned money on the platform and in turn benefitting themselves along with the crypto community as a whole.

You do not have to worry about the platform scamming you, as everything is open source and community-controlled at Stargate Finance.

No hassle of signup or meeting KYC requirements:  Because Stargate Finance is a decentralized exchange, users do not have to sign up with personal information or fulfill the KYC requirements that most crypto exchanges and platforms demand. You won’t have to upload any personal identification documents or even give so much as an email address to the exchange to get started.

Getting rid of these hassles saves a lot of time, and users also get to keep their personal information safe and secure.

Things I Don't Like About Stargate Finance

Stargate Finance is not a perfect decentralized exchange. In this section, I will tell you about the aspects I do not really like. Take a brief look and decide if they are deal breakers for you.

Supports very few crypto wallets:  One concerning thing about Stargate Finance is that it supports only two cryptocurrency wallets: Metamask and WalletConnect. There are millions of crypto users who use a variety of crypto wallets. There are many other popular crypto wallets, such as Coinbase Wallet and Ledger, that are not supported on the exchange.

If you do not have a wallet with Metamask or WalletConnect, you will have to create one and go through the hassle of transferring assets just to use Stargate Finance’s services. If the platform wants to serve more investors, it will have to support more wallets.

Not the best diversity in coins:  There is no doubt that Stargate Finance offers a low-risk option through stablecoins, but users require more diversity. Stargate Finance supports only three stable assets and nothing else. This limits users from exploring more opportunities and trying out other pools and farms that could benefit them.

If Stargate Finance added more stable assets, it might bring more users to the platform, and it will give investors more room to expand.

Stargate Finance Fees

Stargate Finance Transaction Fees

All non-STG transfers cost 6 BPS. This fee is divided into two parts, paid to both the liquidity providers and the protocol treasury.

Stargate Finance Gas Fee

The gas fee varies depending on market conditions. The gas fee is imposed on almost every transaction, mainly depositing and withdrawing, staking or claiming assets.

Pros and Cons of Stargate Finance

Pros
  • Up to 6% APY
  • Several liquidity pools
  • Farm LP tokens and earn rewards
  • Stake and earn governance tokens
  • Easy token swaps
Cons
  • Few crypto wallets are supported
  • No diversity in coins listed

The Verdict

Since its beginning, Stargate Finance has attracted thousands of crypto investors, and it now has a total value locked above $1 billion. The platform offers excellent opportunities and investment features, allowing users to easily swap assets and invest money while remaining on the safe side. It even allows common users to obtain voting power to make changes to the platform through governance tokens.

There are some difficulties, like fewer supported wallets and no diversity in coins, but we can expect Stargate Finance to work on it and broaden the exchange over time. Whether you are a beginner or a professional, you can start using Stargate Finance, thanks to its sound and straightforward interface and helpful community.

Frequently Asked Questions

What is STG and veSTG?

STG and veSTG are the native tokens of the exchange. By staking STG, you earn veSTG, the governance tokens of the platform, which allow users to vote and make changes.

Is Stargate Finance legit?

Stargate Finance is a legit decentralized cryptocurrency exchange that offers the swapping of assets, liquidity pools, farms and staking to its users.

Can beginners invest in Stargate Finance?

Stargate Finance is a beginner-friendly platform with several community platforms to help users out. So yes, beginners and amateurs can invest their money in Stargate Finance.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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