Fishes And Whales From Stargate

In this article, we point out the whales and fishes that own Stargate tokens as well as the percentage of users who belong to these categories.

The Stargate network is a scalable, composable cross-chain bridge built on LayerZero that can transfer assets between different blockchains. One of the main shortcomings of most current bridges is their inability to transfer native assets between chains. They use an intermediary token instead of a wrapped token for the purpose of bridging. A disadvantage of this approach is that it is extremely inefficient and makes the user’s experience very difficult. Using Stargate, users can send native tokens directly to non-native chains and avoid tying up their funds in wrapped tokens. In order to guarantee instant and finality, the protocol makes use of unified liquidity pools shared by chains. Cross-chain bridging can be made seamless and easy with Stargate.

STG Token Allocation

1 billion STG were minted at genesis and are the total supply of STG. The allocation for the first three years is as follows:

  • 17.50% – Stargate core contributors (unlock after full lockup of 1-year).
  • 17.50% – Investors (unlock after full lockup of 1-year).
  • Approximately 65.00% of Stargate’s allocations will go toward achieving the mission of the protocol: to make the transfer of liquidity across chains seamless and quick. This breakdown is as follows:
    • 15.00% – Launch of the Stargate protocol.
      • 10% to those who purchased the STG launch auction.
      •  contribute 5.00% to a STG-USDC pool on Curve.fi.
    • 15.95% – Bonding Curve.
    • 2.11 % – Early emissions.
    • There will be an additional 1.55% or more added to DEXs on BNB, Avalanche, Polygon, Arbitrum, Optimism & Fantom
    • A remaining 30.39% goes to support future community initiatives & ensure Stargate’s future success.
STG Token Allocation

Here we will look at the different kinds of whales and fishes in this article , in our definitions let’s consider the

  1. Whale : Consider here if any user has more than 500K STG tokens (more than 500K STG tokens).
  2. Shark : Consider here if there are any users with more than 100K tokens (more than 100K STG tokens)
  3. A dolphin is considered to have more than 10K STG tokens (> 10K STG tokens)
  4. FISH: Look at this field to see if any user has less than 10K STG tokens (less than 10K).

As shown in the following graph, we can see STG token holders in different categories. The chart shows that more than 89% of token holders belong to the Fish category. Among all STG token holders, 4351 token holders are fish. Additionally, all these Fishes fall into the category of having their own less than10K STG tokens.

From the diagram below we can clearly see that Whales hold a large number of STG tokens. Despite there being only 32 whales, the tokens they hold are extremely valuable. It is estimated that whales are holding 967.83M STG tokens. This graph shows us the total number of fishes at 4351 and the total STG tokens held by them are 4.68M.

Below is a graph showing the top 10 whales and their holdings of STG tokens. According to the above graph, the total amount of STG tokens held by whales is 967.83M. The following graph shows that more than 65% of total STG tokens of Whales are contributed by the top 2 whales. The next top 3 and 4 Whales are also contributing nearly 208M STG tokens. Therefore, we can see more than 80% of STG tokens of all whales are contributed by just four whales. This means that the remaining 28 whales hold less than 20% of STG tokens.

Observations

Based on the above analysis,

  • The biggest number of STG token holders are fishes, and the number of whale token holders is very low. Moreover, we see that more than 89% of token holders belong to the Fish category.
  • The highest value of STG token holdings belongs to Whales. Despite the fact that there are only 32 whales, the tokens they hold are extremely valuable. There are estimated to be 967.83M STG tokens held by whales.
  • In the top 10 whales, we see that more than 80% of STG tokens of all whales are contributed by just four whales. Less than 20% of STG tokens are held by the remaining 28 whales.
  • As a result of all this, it can be said that the stargate network has become almost entirely dependent on whales. Particularly the four largest whales. However, it is a risk for the entire network. Let’s look at this and wish the entire Stargate system all the best. Good luck!

References :

https://stargateprotocol.gitbook.io/stargate/v/user-docs/tokenomics/allocations-and-lockups

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