Picasso and Basilisk Partner and Form Joint Venture to Develop Angular Finance
Angular Finance is an isolated lending pair protocol built on Substrate. The unique features of Substrate enable the creation of a vibrant DeFi ecosystem.
Angular Finance will be an isolated lending pair pallet for the Kusama ecosystem. This will offer all of the functionality of standard lending pairs in DeFi, which pool any two assets and allow users to use one of these digital assets as collateral to take out a loan in the form of the other asset. Classic examples of this pool-based lending are Aave and Compound. However, Angular Finance’s lending pairs will have the added benefit of risk isolation.
Angular will be deployed as a pallet on the Picasso Kusama parachain, and remain there unless governance votes to upgrade it to Polkadot.
Basilisk will be the foremost automated market maker (AMM) in the Kusama ecosystem. The team has embedded several unique features into their AMM that leverage the functionalities of Substrate. For instance, Composable will collaborate on the work the HydraDX team has been spearheading with regards to liquidations. These will power the maintenance of a high health factor for the Angular Finance system, leveraging cross-chain message passing (XCM) to utilize the Basilisk AMM to liquidate undercollateralized loans.
Use Cases:
Applications leveraging Angular can include leveraged staking, derivatives trading, arbitrage, and liquidity providing, among other essential DeFi use cases. The possibilities are endless, and would all utilize Angular as the main source of cyclical collateral and leverage. This will effectively level up a standard dApp offering, by enabling developers to create new and improved value-generating opportunities within the Polkadot ecosystem.
About Composable Finance
Composable Finance is a cross-layer and cross-chain interoperability platform for Layer 2 Ethereum and Polkadot/Kusama.
