March 31, 2021 — Since launching Astar Network two months ago, we’ve been hard at work developing our core infrastructure. We’re doing so in anticipation of the avalanche of dApps and milestone events that are coming to Astar in April. Our team is projecting at least 15 new projects will be live on our network next month. Not only that, we’re expecting the first IDO on Astar! Because of that, we felt it was fitting to call April #AstarSeason. In this article, I’ll be going over what’s coming to Astar this season.
Starlay IDO on ArthSwap
Starlay Finance has been one of the biggest success stories on Astar Network, reaching $300M in TVL and $175M in borrowing volume in less than a month since going live. It’s the largest DeFi protocol on Polkadot in terms of TVL. They set their foundation on Astar and are now gearing up for their IDO.
Starlay currently supports eight tokens including DAI, ASTR, SDN, and USDC, and plans to support more Polkadot ecosystem tokens in the coming weeks. They’ve set their sights on becoming the default lending platform on Polkadot and beyond.
ArthSwap will release its IDO Launchpad in April and Starlay will be the first project to be listed on it. Since this will be the first IDO on Astar, it’s critical for our ecosystem that it be a resounding success — both for Starlay and for promising DeFi products that are looking to build on Astar.
#AstarSeason — New DeFi Products Coming to Astar
The following are new DeFi products that are coming to Astar in April. I’ve listed them in alphabetical order and given a brief description for each. Be sure to look out for them in our portal in April.
ADAO
A-DAO will be based on dApp staking of Astar Network. Users will get some of the developer rewards while participating and gaining basic rewards.
Alnair Finance
Alnair Finance is a yield optimizer platform that allows users to stake LP-Tokens issued from AMMs (Automated Market Makers) and DEX (Decentralized Exchanges) in Alnair Vaults, which automatically harvest and re-stake their rewards as LP-Tokens for a compounding effect.
AstridDAO
AstridDAO is the third project incubated by the Astar Incubation Program, following ArthSwap and Starlay. AstridDAO is a multi-collateral stablecoin built on Astar Network and for the Polkadot ecosystem. AstridDAO allows users to deposit various crypto assets including $ASTR, $BTC, $ETH, $BNB, etc., and borrow BAI, a fully backed stablecoin hard-pegged to the US Dollar, at a 0% interest rate with a minimum collateral ratio. With the $ATID token and $veATID token, people can vote to increase the reward weight of a stability pool, add new collateral assets, and more. BAI holders will be able to farm on different protocols on Astar Network to receive rewards and interest.
Astar Farm
Astar Farm is a DeFi & GamiFi dApp developed on dApp staking of Astar network.
Avault
Avault is a yield aggregator that provides DeFi users with automated compounding yields at empirically optimal intervals while pooling gas fees through smart contracts and with the best yield optimization strategies. With the Vault and Zap feature from Avault, users are able to yield with automated compounding to achieve higher capital efficiency and directly switch from a single asset (eg. ASTR) to an LP Token (eg. ARSW-ASTR LP) with one click.
Kagla
Kagla is a StableSwap protocol for Astar Network. Kagla allows users to exchange stablecoins like USDT⇆USDC with low fees and low slippage on top of Astar Network.
Muuu Finance
Muuu is a platform that supports the operation of veToken on Astar Network. Muuu enhances the rewards for liquidity providers in DEX and Lending.
Orcus Finance
Orcus Finance is delivering the first fractional-algorithmic stablecoin pegged to the United States dollar which is built on the Astar Network.
Sirius Finance
Sirius Finance is a cross-chain stablecoin AMM, attracting and locking tremendous value with low-slippage trading costs, attractive APY for LPs on Astar Network, allowing for more financial innovations & yield enhancements for Astar users.
Starbank
Starbank, based on Balancer V2, will be the first decentralized investment platform on Astar Network. The Starbank protocol adds further incentives for Astar Network participants by introducing revenue sharing through the next-generation AMM protocol.
About Astar Network
Astar Network is the #1 Smart Contract Hub for WASM + EVM on Polkadot in TVL. Since winning its Parachain auction in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in terms of Total Value Locked ($1B+) and most Ethereum assets transferred over ($180M). Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major layer 1 blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable and interoperable blockchain.
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#AstarSeason is Coming was originally published in Astar Network on Medium, where people are continuing the conversation by highlighting and responding to this story.
