Make Velodrome the STG Hub on Optimism: Boosting Mobility on Stargate DAO

04/19/2023 05:15 • Crypto & Markets • 59 views

On April 19th, it was reported that the Stargate DAO community has initiated the Make Velodrome the STG Hub on Optimism vote to increase Stargate’s mobility on Optimism. The vote was effective with 2.2 million people and the deadline was 02:59 on April 22nd. Currently, 1.7 million people have participated in the voting, with a approval rate of 97.94%. Foresight News previously reported that on February 27th, the AMM protocol Velodome on Optimism launched the Make Velodome the STG Hub on Optimism proposal on Commonwealth.

Stargate DAO Community Initiates Make Velodome the STG Hub on Optimism Voting

Stargate DAO has been making strategic moves to position itself as one of the most reliable and high-performing decentralized finance (DeFi) ecosystems in the market. One of the recent developments is the Make Velodrome the STG Hub on Optimism vote, which aims to increase mobility and scalability on Stargate.

The Voting Process and Results

The vote was initiated by the Stargate DAO community on April 19th, 2021, with the deadline set for 02:59 on April 22nd. The voting process was open for all Stargate DAO members, with 2.2 million people being eligible to participate.
As of today, 1.7 million people have participated in the voting process, representing a total approval rate of 97.94%. This overwhelming approval rate indicates that the Stargate DAO community is in favor of the proposal to increase Velodrome’s mobility and scalability within the ecosystem.

Background and Significance

The proposal to make Velodrome the STG Hub on Optimism was first launched on February 27th by the AMM protocol Velodome on Optimism. The proposal aims to address the challenges of network congestion and high gas fees that have been limiting the potential of the Stargate DAO ecosystem.
By making Velodrome the STG Hub on Optimism, the community hopes to improve the network’s scalability and reduce the transaction fees, which will enable small retail participants to engage more easily with the network. The proposal also seeks to increase the speed of transactions and allow for faster settlement times, which is essential for enterprise-level participants.

How Making Velodrome the STG Hub on Optimism Will Improve Mobility

Velodrome’s integration with Stargate DAO will enable the platform to move more efficiently on Optimism, as the decentralized exchange (DEX) will now be able to operate on Stargate. This will provide improved liquidity on the platform and ultimately increase the utility of Stargate DAO.
The proposal will help establish a fully decentralized ecosystem, which is built on the ethos of transparency, security, and efficiency. This will be instrumental in creating and managing a wide range of cutting-edge DeFi products and services.

Conclusion

The Make Velodrome the STG Hub on Optimism vote is a significant development in the Stargate DAO ecosystem. The positive vote signals that the community is resolute and committed to expanding the platform’s capabilities and ultimately increasing the value of the ecosystem. This will help to establish Stargate DAO as a reliable and high-performing DeFi ecosystem in the market.

FAQs

**1. What Is Stargate DAO?**
Stargate DAO is a decentralized autonomous organization built on a multi-chain network that enables seamless and real-time access to financial markets.
**2. What Is Velodrome?**
Velodrome is a decentralized exchange (DEX) built on the Optimism network that simplifies the process of trading assets on Layer 2 of Ethereum.
**3. Why Is the Vote to Make Velodrome the STG Hub Important?**
The vote is significant as it aims to address the challenges of network congestion and high gas fees that have been limiting the potential of the Stargate DAO ecosystem. By making Velodrome the STG Hub on Optimism, the community hopes to improve the network’s scalability and reduce transaction fees, ultimately increasing the value of the ecosystem.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/17470.html

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.