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
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Nasdaq, home of Coinbase, Strategy stocks, seeks 23-hour trading amid investor demand
Crypto's 24/7 trading has influenced investor expectations, with Nasdaq acknowledging that many of its clients are already active overnight.
What to know:
- Nasdaq plans to expand stock and exchange-traded product trading to 23 hours a day, five days a week, according to a filing.
- The move follows similar initiatives by the New York Stock Exchange and reflects growing global demand for extended market access.
- Always-on cryptocurrency trading has influenced investor expectations, with Nasdaq acknowledging that many of its clients are already active overnight.
Top Stories
