Stargate Finance (STG) Surges 15% On Binance Completing Contract Swap

Shourya Jha
March 18, 2023 Updated May 19, 2025
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Aergo (AERGO) Price Rockets 25% on Binance Perpetual Contract Launch

Binance, the world’s largest cryptocurrency exchange by trading volume, completed the Stargate Finance (STG) contract swap on March 17, 2023. The announcement was made by Binance on its official website.

According to the announcement, Binance has successfully completed the STG contract swap and has opened STG deposits and withdrawals. The STG contract swap was carried out at a ratio of 1:1, and all STG balances held by Binance users have been swapped to the new STG contract.

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STG price rises 

Stargate Finance’s (STG) took a positive turn as it surged 15% following a successful contract swap by Binance. It is currently trading at $0.8277, with a market cap of $132 million. Trading volume increased by over 80% over the previous 24 hours. This achievement marks a significant milestone for the project as it seeks to expand its footprint in the decentralized finance (DeFi) space. STG Source: coinmarketcap

Also read: FTX News: Sam Bankman-Fried Faces Investigations Amid New Bail Restrictions

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New initiatives by Stargate Finance ahead

The STG token is a governance token for the Stargate Finance protocol, which is a decentralized finance (DeFi) platform built on the Binance Smart Chain. The platform allows users to lend, borrow, and stake cryptocurrencies, as well as participate in yield farming. The STG contract swap is an important milestone for the Stargate Finance protocol as it marks the transition to a new and improved smart contract. The new contract is designed to provide better security and efficiency for users of the platform.

In addition to the contract swap, Stargate Finance has also announced several new initiatives. The platform has launched a new liquidity mining program, which will reward users for providing liquidity to the STG-BNB and STG-BUSD trading pairs on PancakeSwap. Stargate Finance has also announced the launch of a new staking program, which will allow users to stake their STG tokens and earn rewards. The staking program will be launched in two phases, with the first phase set to begin on March 25.

Also read: 186 US Banks Face SVB Like Risk; Crypto Bull Run Ahead?

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Shourya is a fintech enthusiast who mainly reports on Cryptocurrency Prices, Union Budget, CBDC, and FTX collapse. Connect with her at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.