TechFlow News — Alameda co-CEO Sam Trabucco announced on social media that Alameda Research participated in the public sale of cross-chain bridge project Stargate on March 18 and purchased all allocated shares (100 million tokens, representing 10% of total supply) of STG. Cross-chain asset management unlocks a range of possible DeFi use cases, enabling smoother capital allocation for firms like Alameda and contributing to greater efficiency in the crypto market. Alameda appreciates the team and their work, and believes strongly in the importance of what they are building and the underlying technology.
Additionally, Sam Trabucco stated that Alameda will not sell any STG for the next three years, demonstrating a long-term commitment to the project and team. Furthermore, Alameda will refrain from interfering in project governance by relinquishing voting rights associated with its aSTG tokens, allowing for a more equitable distribution of voting power among early community members.
Earlier reports indicated that Stargate, a cross-chain bridge developed by LayerZero Labs—the team behind the cross-chain interoperability protocol and including SushiSwap co-founder 0xMaki—announced its public sale would launch at 12 PM Eastern Time on March 17 (00:00 Beijing Time on March 18). The sale adopted an auction model, issuing 100 million STG tokens (10% of total supply) with a price cap of $0.25. Tokens acquired through participation will be locked for 12 months, followed by linear unlocking over six months.
