The Stargate community's proposal to hire GSR as a market maker was approved
February 20th, 2023

The Snapshot page shows that the cross-chain bridging protocol Stargate community initiated the voting on the proposal "Employing GSR as STG's market maker on the centralized exchange" has ended and passed with a support rate of 98.2%.

The content of the proposal shows that Stargate will provide GSR with 8 million STG European options on the condition that the average price of STG exceeds US$1.15 after 24 months. Stargate said that in order to protect the market, it will not disclose the specific price requested.

It is reported that the proposal was initiated because a number of exchanges contacted the Stargate Foundation regarding the liquidity of Stargate on centralized exchanges, and informed that if Stargate DAO does not hire a market maker, STG will be delisted or its priority will be canceled in the future.

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