We are excited to announce our new partnership with Sirius Finance.
Algem and Sirius Finance are collaborating to improve the defi ecosystem of Astar and to bring new opportunities to Astar users.
Sirius is a stablecoin AMM protocol on Astar Network allowing Astar users to swap stablecoins such as DAI, USDC, USDT, BUSD, BAI, JPYC or oUSD with low slippage and low trading fees.
Together, we will create a new stable pair on Sirius Finance: nASTR:ASTR. Since the Algem’s nASTR token is pegged to ASTR on a 1:1 basis and will keep the same value as ASTR token, Sirius was naturally the first place to create a new utility to nASTR token.
Holders of nASTR tokens from Algem’s liquid staking solution can deposit their nASTR and ASTR tokens in one of Sirius’s farming pool. In return, they will receive LP tokens and can stake them on Sirius to earn extra trading fees and incentives rewards.
Sirius Finance is the first Polkadot-native stablecoin AMM on Astar Network. Their mission is to provide a stable, highly liquid trading platform for stablecoins, deep liquidity for connected protocols, attract and lock tremendous value to facilitate more innovations and collaborations for Astar and Polkadot.
Algem is a decentralized application on top of Astar Network and is developed around two main features offering different solutions for ASTR holders to remain liquid with their assets. The liquid staking and liquid earning solutions allow users to continue to earn staking rewards and increase their revenue by using liquid nASTR tokens across the defi ecosystem of Astar. On the other hand, Algem supports other defi protocols by providing liquidity, creating a sustainable and cooperative ecosystem on Astar Network.