Quick Take
Stargate, a cross-chain stablecoin swap protocol, was launched in March 2022 and has attracted $2.7 billion in Total Value Locked as of this writing
Stargate’s main value proposition is to enable cross-chain transfers of stablecoins in a decentralized and permissionless manner
Stargate leverages LayerZero’s interoperability mechanism, which enables the decentralized dissemination of information across multiple blockchains
Stargate’s native token, STG, is being used to bootstrap liquidity and also for governance via the Stargate DAO
Fundamentally, Stargate and LayerZero are meant to enhance cross-chain interoperability without sacrificing decentralization
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