STG, the native token of Stargate Finance, experienced a remarkable 77% surge within two hours of being listed on Upbit, South Korea's leading crypto exchange. Currently priced at $0.6873, the token has seen a 42% increase in the last 24 hours, as reported by CoinMarketCap. With a daily trading volume of 788 million and a total market capitalization of $140 million, the token's performance has garnered attention. Despite this surge, STG remains 83% below its all-time high of $4.13, achieved on April 2, 2022.

Spot On Chain, an on-chain analytics platform, attributed the recent surge in the STG price to the introduction of the STG/KRW trading pair on Upbit. This move has significantly stimulated investor interest and trading activity. Notably, an investor associated with Wallet 0x22d deposited 10.25 million STG tokens, valued at $8.8 million, to Binance at a price of $0.859 per token. These tokens were received from Stargate: Team and Investors Vesting Multisig on April 9, 2024, when the price was $0.792, totaling $8.12 million at that time.

The surge was also influenced by the announcement from Stargate Finance about the launch of Stargate V2, dubbed as "DeFi's cheapest bridge." The introduction of Stargate V2 Pools and Incentives on May 28 has allowed users to deposit liquidity into V2 pools. Additionally, Stargate V1 continues to operate across twelve chains, maintaining normal operation with gradually decreasing incentives. Users can retain their assets in V1 Pools for any desired duration.

Stargate Finance aims to address the blockchain trilemma by providing an omnichain-native asset bridge. This protocol facilitates seamless cross-chain DeFi transactions, enabling users to swap and transfer assets across various blockchains, Layer-2 networks, and decentralized applications almost instantly. Users of Stargate Finance can utilize the protocol to move assets between different liquidity pools on diverse DeFi protocols and dApps. Currently, Stargate Finance supports transfers between eight chains: Ethereum, Avalanche, Polygon, Metis, BNB Chain, Arbitrum, Optimism, and Fantom.