Stargate Community Votes to Hire GSR as Market Maker: A Strategic Move to Boost STG Liquidity
On February 20, the snapshot page showed that the vote on the proposal of \”hiring GSR as the market maker of STG in the centralized exchange\” initiated by the …
On February 20, the snapshot page showed that the vote on the proposal of “hiring GSR as the market maker of STG in the centralized exchange” initiated by the Stargate community of the cross-chain bridging agreement had ended and was approved with 98.2% support. According to the proposal, Stargate will provide GSR with 8 million STG European options, on the condition that the average price of STG exceeds $1.15 after 24 months. Stargate said that in order to protect the market, it would not disclose the specific price required.
The proposal of Stargate community to hire GSR as a market maker was approved
Interpret the above information:
The Stargate community recently voted to hire GSR as the market maker of STG in the centralized exchange, in a move that is expected to significantly boost liquidity for the digital asset. The proposal was approved with an overwhelming 98.2% support, highlighting the community’s strong support for the initiative. As per the proposal, Stargate will provide GSR with 8 million STG European options, subject to the condition that the average price of STG exceeds $1.15 after 24 months.
This move is a strategic decision by Stargate to further boost the liquidity of STG in the market. By hiring GSR as the market maker, Stargate aims to ensure that there are always buyers and sellers for STG in the exchange, enhancing liquidity and reducing volatility. GSR is a renowned quantitative trading firm that is known for its expertise in market making and liquidity provision. As such, its partnership with Stargate is expected to be a game-changer for STG.
Stargate’s decision to not disclose the specific price required to trigger the European option is a savvy move, as it will prevent market manipulation and ensure that the price remains stable. The decision to hire GSR as the market maker is an indication of the community’s strong commitment to the growth and success of STG. The 98.2% support for the proposal is a clear indication of the confidence that the community has in the current management, and its ability to make the right strategic decisions to achieve long term growth.
In conclusion, the decision by the Stargate community to hire GSR as the market maker of STG is a strategic move aimed at improving liquidity and reducing volatility. The partnership with GSR is expected to be a game-changer for STG, ensuring that there are always buyers and sellers for the digital asset in the exchange. The move further cements the community’s commitment to the long-term growth and success of STG, and highlights the confidence that the community has in the current management.
This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/1722.htm
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
What is ASIC Mining (AAC Mining)
What is asic mining? According to official information, what is asic mining? ASIC mining is a decentralized network based on blockchain technology. There is no problem using ASIC to mine virtual currency. In this way, the value of Bitcoin can be transferred or realized through tokens. In such a system, users do not need to perform any operations to participate in network mining. For example, you need to sell your Cryptocurrency to the trading house to pay the transaction fee; If you are not willing to accept this payment fee, you can choose to directly deposit the money into the black hole address and wait for confirmation to retrieve the transfer record, etc aac miningAccording to official news, aac mining has officially started. Users can receive rewards by pledging their funds to participate in AAC’s Liquidity Mining (LP) and pledging platform tokens of $AAC According to reports, aac was created by Amazon Network Services and blockchain technology provider Hyperledger Fabric,…
-
What is CPU mining machine (CPU mining field)
What is a CPU mining machine CPU (CentralizedPool) is software that specifically provides computing and storage resources for computers. It is mainly used to execute complex instructions, such as processing transactions, sending requests, and other tasks To address the above issues, there are many solutions available for developers to choose from. For example, ASIC chips can be used to protect the block production process on the Bitcoin blockchain and conduct Cryptocurrency mining; GPU can also be used as its mining hardware. These solutions enable miners to obtain more data or rewards without running any software cpu mineAccording to Cointelgraph, the GPU (application specific integrated circuit) mine developed by CPU mining company Core Geth has been successfully deployed to the Ethereum main network. According to the latest data statistics, the top five CPU computing power mining pools are Titanswap, F2Pool, and Lbank. Among them, Titanswap accounts for over 65% of the hash rate share, accounting for approximately 20%; FileCoin is one…
-
Aavegotchi’s Token GHST Joint Curve Agreement Up for Voting
On March 8, it was reported that the vote on the proposal for closing the agreement Token GHST joint curve initiated by the Aave Ecological NFT project Aavegotc
-
The Future of Decentralized Finance with Gitcoin, Astar, Celsius and Bybit
21:00-7:00 Key words: Gitcoin, Astar, Celsius, Bybit
Overview of important developments overnight on March 5
Interpret the above information:
<… -
Cryptocurrency market and NASDAQ show positive correlation ahead of US CPI release
It is reported that before the release of the US CPI, the relationship between the cryptocurrency market and the NASDAQ turned positive. The 90-day correlation…
-
What does Bitcoin Halving bring (2020 Bitcoin Halving)?
What does Bitcoin Halving bring? With the continuous development of Bitcoin and
-
Ethereum 2.0 Client Lodestar: Upgraded Version v1.7.1 for Better Testing Experience
On March 31, according to official Twitter, the Ethereum 2.0 client Lodestar announced that it had released v1.7.1, which includes a fix to resolve issues related to checkpoint syn
-
What does it mean to trade qtum?
What does it mean to trade qtum? Trading qtum refers to the process of conducti
-
BlockTower Capital Shuts Down Cryptocurrency Fund Despite Managing Over $100 Million in Funds
According to reports, BlockTower Capital, a digital asset investment company headquartered in Miami, announced the closure of its \”market neutral\” cryptocurrenc
-
USDC, Circle and SEC: Security or Risk Exposure?
According to reports, according to Andrew, the founder of Crypto KOL and Twitter marked as X 3, disclosed on social media, the source said that the U.S. Securit