How to use Stargate? Transfer, Farm and Earn

Stargate is a blockchain bridge that enables seamless transfers of native assets across 7 blockchain networks. Currently, Stargate is deployed on Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB Chain and Fantom and is among the top protocols by TVL in many of those DeFi ecosystems. Stargate allows the transfer of the stablecoins USDC, USDT and BUSD. This article is a detailed guide on how to use Stargate and transfer funds across blockchains.

Prerequisites

In order to use Stargate, you will need to first set up your Metamask wallet on the corresponding network. If you wish to transfer funds from Polygon to Avalanche then you should have these two networks set up on your Metamask.

In addition, make sure that you have sufficient funds to pay for gas fees. If you plan to transfer funds from Polygon to Avalanche C-Chain, then you need $MATIC to pay for gas fees on the Polygon Network where you initiate the transaction. On the destination chain, you don’t need to have assets to pay for gas fees for the transfer of funds, but you will need some in order to pay for anything else you wish to do afterward. Therefore, is a good idea to have some funds on both sides.

Besides Metamask, Stargate allows you to use any wallet that supports WalletConnect. For convenience, in this article, we will use Metamask, but feel free to use any wallet you wish.

To set up Metamask, you can follow the guides below:

NetworkNative TokenNetwork ProfileMetamask Guide
Ethereum$ETHEthereum NetworkHow to set up Metamask on Ethereum
Avalanche$AVAXAvalanche NetworkHow to set up Metamask on Avalanche
Guides for setting up your Non-custodial wallet

Finally, the other pre-requisite is having the tokens you wish to transfer from one chain to another in your wallet (or provide as liquidity). If you wish to transfer USDC from one network to another, or provide your idle USDC as liquidity to the protocol to earn rewards, make sure that you have the corresponding funds in your wallet.

How to transfer funds with Stargate

Step 1: Navigate to Stargate Bridge

Use the following link to navigate to Stragate’s Transfer page: https://stargate.finance/transfer. Click on the upper right of the screen to connect your Metamask or any other non-custodial wallet.

Step 3: Configure your transfer

To configure the transfer simply fill in the following information:

  • FROM: Select the token you wish to transfer and the originating chain.
  • TO: Select the token you wish to receive and the destination chain.
  • Total Amount: The amount of funds you wish to transfer.

Slippage Settings

As of May 2022, there’s no effect when changing the slippage. According to the Stargate team, this is reserved for future integrations.

Step 4: Transfer your funds

Once you fill in the abovementioned information, then the “Enter amount” button, as shown above, will turn into “Approve”. Just click on the approve button. Your metamask will prompt you to sign two transactions. Once you sign the transactions, then the transfer will begin and you will be notified when completed.

How to provide liquidity on Stargate

Providing liquidity on Stargate is very straightforward. The process is identical to becoming a liquidity provider and yield farmer on Decentralized Exchanges such as Uniswap, Trader Joe, etc.

Step 1: Navigate to Stargate’s Pool page

How to use Stargate -  Selecting a Farm
Finding a liquidity pool on Stargate

Use the following link to navigate to Stragate’s Transfer page: https://stargate.finance/pool. If your wallet is not connected, click on the upper right of the screen to connect your Metamask or any other non-custodial wallet.

Step 2: Select a Liquidity Pool

On Stargate’s pool page, scroll down to find all liquidity pools available. On the liquidity pool list, you will find the following information for each pool:

  • Name: Indicates the name of the token supported by the pool.
  • Network: This shows the network on which the liquidity pool is available.
  • Liquidity: Indicates the amount of funds deposited in the liquidity pool in dollar value.
  • Volume (24H): The volume associated with assets transferred associated with the liquidity pool within the last 24 hours.

To proceed, select the pool that you wish to provide liquidity for.

Step 3: Deposit your funds in the Liquidity Pool

How  to use Stargate - Liquidity Provision
Depositing funds in the liquidity pool

Once you select a pool, Stargate will take you to a page where you need to specify the amount you wish to deposit. On the page, you will find similar information as the one presented on the previous page, such as transfer volume and liquidity available. In addition, you can see your position in the pool – the amount of funds already deposited by you.

On the top of the page, type the amount of funds you wish to deposit in the pool, and then click on the button at the end of the page to approve and deposit your funds. Metamask will prompt you to sign the transactions. Once you sign the transactions and the funds are deposited, then Stargate will notify you of the competition of the transaction.

Step 4: Navigate to Stargate’s Farming Page

When your funds are deposited in the pool, Stargate will show you a pop-up, asking you to navigate to the Farming page as indicated in the screenshot above. Click on the “Go to Farm” button to navigate to the Farming page.

The difference between becoming just a liquidity provider compared also becoming a yield farmer is associated with from where the rewards are coming. When you provide only liquidity, you earn a portion of the fees the users pay when they transfer funds. Becoming a Yield Farming allows you to earn additional rewards in STG tokens. These rewards are given to incentivize further liquidity provision.

Step 5: Deposit your LP tokens for farming

How to use Stargate - Yield Farming
Depositing your LP tokens in Stargate

The farming page is very similar to the liquidity provision page, just presenting different information to the user. On the page you will see the following information associated with the pool:

  • Pending Rewards: The rewards you accumulated by providing your liquidity in the pool. The rewards are given here in STG.
  • LPT Staked: The amount of token you have staked in the pool.
  • Share of Pool: Presents the share of the pool associated with the funds deposited. The rewards are fixed per period of time per pool. The higher your share of the pool, the higher the percentage of rewards you accumulate.
  • APY: Annual Percentage Yield is an estimate that is calculated based on the current reward distribution and price of STG tokens.
  • Pool Liquidity: As before, this is the overall liquidity deposited in the pool.

Simply select your LP tokens and then click on the button below to deposit your liquidity for farming STG tokens. Similar to the previous page, sign your transactions with Metamask.

How to withdraw your liquidity from Stargate

Once you decide to remove your liquidity completely from Stargate, then you simply need to follow the abovementioned process in reverse order:

  1. Go to the farming page, then go to the “Unstake” tab, and unstake your LP tokens.
  2. Go to the pool’s page, then go to the “Remove” tab, and remove your liquidity from Stargate.

Final Thoughts

Stargate’s User Interface is very minimalistic and resembles a lot the interface of the familiar AMM DEX interfaces. This makes it easy for people already familiar with AMM DEXes to use Stargate.

Aris Ioannou
Aris Ioannouhttps://coinavalon.io
Aris created Coinavalon with the purpose of helping the average person navigate the decentralized web. Aris has been passively in the space since 2017 and full time since late 2020. Before Coinavalon, Aris worked as a Business & IT Architect in the financial services sector. Aris holds an MSc in Advanced Computing from Imperial College London, a BSc in Computer Engineering from University of Cyprus and currently pursuing an MBA degree from CIIM.

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