Stargate Community Approves Hiring GSR as Market Maker for STG
On February 20, the snapshot page showed that the vote on the proposal of \”hiring GSR as the market maker of STG in the centralized exchange\” initiated by the …
On February 20, the snapshot page showed that the vote on the proposal of “hiring GSR as the market maker of STG in the centralized exchange” initiated by the Stargate community of the cross-chain bridging agreement had ended and was approved with 98.2% support. According to the proposal, Stargate will provide GSR with 8 million STG European options, on the condition that the average price of STG exceeds $1.15 after 24 months. Stargate said that in order to protect the market, it would not disclose the specific price required.
The proposal of Stargate community to hire GSR as a market maker was approved
Analysis based on this information:
The Stargate community has approved the proposal to hire GSR as the market maker for STG on the centralized exchange with an overwhelming 98.2% support. The proposal is part of the cross-chain bridging agreement, where Stargate will provide GSR with 8 million STG European options if the average price of STG exceeds $1.15 after 24 months.
A market maker is a company that acts as a middleman between buyers and sellers by providing liquidity to the market. By hiring GSR as a market maker, Stargate is ensuring that STG will have continuous liquidity, making it easier for investors to buy and sell the token. This move will also increase the visibility and accessibility of STG in the market, potentially attracting more investors and boosting the price of the token.
The condition for providing GSR with the STG European options is based on the average price of STG after 24 months, which indicates a long-term commitment from both parties. Stargate is offering this incentive to GSR to encourage them to actively participate in the market and help maintain a stable price for the STG token.
Stargate has also taken measures to protect the market by not disclosing the specific price required to obtain the STG European options. This prevents market manipulation and ensures that GSR is actively participating in the market based on their own research and analysis.
Overall, the approval of the proposal to hire GSR as the market maker for STG on the centralized exchange is a positive sign for the Stargate community. It shows that there is strong support for the token and a commitment from both Stargate and GSR to maintain its stability in the market.
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