Share this article
Stargate Members Discuss Plans for $2M Worth of Arbitrum Tokens on Community Call
The distribution of more 1.6 million ARB tokens will deepen the connection between Arbitrum and Stargate.
Updated May 9, 2023, 4:11 a.m. Published Mar 29, 2023, 8:58 p.m.
Members of the decentralized autonomous organization (DAO) managing decentralized exchange (DEX) Stargate Finance are debating what to do with the expected allocation of 1.6 million tokens worth just under $2 million.
The tokens have not yet arrived, said MaxPower, an employee of LayerZero Labs, which manages the protocol upon which Stargate is built and who was the co-host of a community call with roughly 400 attending, including CoinDesk, on Wednesday. Once they do, however, Stargate’s governing DAO will have to decide whether to hold, sell, deploy or delegate the trove of coins.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Stargate has $364 million in total value locked (TVL) and nearly 22% of it comes from the Arbitrum platform, according to DeFiLlama. “Arbitrage is a volume hub for Stargate and a lot of our volume comes either to or from Arbitrum," said MaxPower on the call.
Some in attendance suggested the DAO should distribute the ARB tokens to users or deploy them as a liquidity incentive. Meanwhile, other governance token holders have suggested delegating the ARB coins so Stargate can participate in Arbitrum governance. This would “help shape the future of that chain,” MaxPower said.
“There’s a clear product market fit, so supporting that ecosystem is always of interest,” MaxPower added.
Read More: Stargate Finance Token Down 8% on Coinbase Delisting
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Top Stories
