📖 Introduction
(Please note that the docs site is currently under construction and can constantly be updated)
Last updated
(Please note that the docs site is currently under construction and can constantly be updated)
Last updated
Stargate Finance is a decentralized reserve currency protocol based on the SGT token on Binance Smart Chain. Economically, it imitates the model created by OlympusDao.
Each SGT token is backed by a basket of assets (e.g. USDT) in the treasury, giving it an intrinsic value that it cannot fall below. Stargate Finance also introduces the economic and game-theoretic dynamics into the market through staking and minting.
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The goal is to build a policy-controlled currency system, native on the BSC network, in which the behaviour of the SGT token. In the long term, we believe this system can be used to optimize for stability and consistency so that SGT can function as a global preservation-of-value, unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.
There are two main strategies for market participants: staking and minting. Stakers stake the SGT tokens in return for more SGT tokens, while minters provide LP tokens or stablecoins in exchange for discounted SGT tokens after a 5-day vesting period.
The main benefit for stakers comes from supply growth. The protocol mints new SGT tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in SGT tokens and thus the minter's profit would depend on SGT price when the minted TIME matures. Taking this into consideration, minters benefit from a rising or static price for the SGT token.
Stargate Finance is a fork of on the BSC Network. It is a community project created by a group of DeFi enthusiasts, experienced developers, observers, and community builders. The goal is to further expand OlympusDAO’s innovative decentralized financial model to wider audiences, bring attractive yields for (3,3) players and finally create the Future Reserve Currency on BSC.