Algem, the leading liquidity hub in the Astar Network and Polkadot ecosystem, is pleased to announce its partnership with Starlay Finance & Kagla.
Through the partnership, Algem will collaborate for the integration of the nASTR token on the lending platform of Starlay Finance and the StableSwap protocol of Kagla.
With this collaboration, nASTR holders will be able to use and benefit from Starlay and Kagla’s technology to perform new defi and farming strategies with their nASTR tokens, such as depositing nASTRs on Starlay as collateral and then borrowing other assets.
Gradually bringing a maximum of integrations and new utilities to nASTR token is the first priority of Algem team. Starlay & Kagla are among the oldest projects in the Astar Network ecosystem and are therefore in essence key players with whom we need to collaborate for the growth of Astar.
About Starlay & Kagla
Starlay is a non-custodial lending protocol on Astar Network. Depositors can provide liquidity to earn interest as a stable passive income, while borrowers can leverage their assets without selling them out.
Kagla is a StableSwap protocol for Astar Network. Introducing veToken feature, for users to be able to deposit a token then get veToken maximizing their reward up to x2.5.
Algem is a dApp built on Astar Network and offers two main features: liquid staking and liquid lending. As the name implies, these two solutions enable ASTR holders to remain liquid with their assets while putting them to work.
The liquid staking and liquid lending solutions allow users to accumulate staking rewards and increase their earnings using Algem’s liquid nASTR tokens across Astar’s DeFi ecosystem. In doing so, Algem supports other DeFi protocols by providing liquidity, creating a sustainable and cooperative ecosystem on Astar Network and Polkadot.