CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

AstridDAO Joins Microsoft For Startups Program

Published on:

Microsoft, one of the global technology giants and market leaders across various verticals, AstridDAO joins Microsoft for Startups program!

AstridDAO, a decentralized money market with a native stablecoin called $BAI, has partnered with Microsoft to keep AstridDAO’s innovation pace in the DeFi (decentralized finance) space and to accelerate the adoption of its decentralized money market and stablecoin.

Collaboration, AstridDAO joins Microsoft for Startups, building a company with exclusive access to technology, coaching, marketing, and support.

AstridDAO will accelerate its go-to-market speed with Microsoft’s support and maximize its market influence. Microsoft will also provide up to $350,000 worth of benefits through Github Enterprise, Microsoft Teams, and Azure credits (up to $150K/ 4 years).

AstridDAO is a decentralized money market with a fully backed stablecoin, $BAI, hard-pegged to the US Dollar. Users of the dApp (decentralized application) can borrow $BAI at 0% interest and instantly redeem $BAI for their collateral at face value (i.e., 1 BAI for $1 of ASTR).

Additionally, users can become stability providers by adding $BAI to the stability pool and instantly liquidate under-collateralized accounts. Two mechanisms, i.e., borrowing at 0% interest against risk assets and instant liquidation of under-collateralized accounts. Create a hard peg mechanism to the USD.

Finally, With Microsoft supporting AstridDAO, the decentralized money market protocol is officially backed by one of the most innovative and tech-driven companies in human history.

Five key features differentiate BAI from other stablecoins

  1. Over-collateralization = more stability. AstridDAO takes a conservative approach regarding its reserves and is, in fact, overcollateralized. In other words, the value of its collateralized assets exceeds the value of outstanding $BAI at any given time.
  2. High capital efficiency = more leverage & more liquidity. AstridDAO’s efficient liquidation mechanism allows users to get liquidity for their crypto assets and maximize their leverage exposure.
  3. Native stablecoin = high APY. AstridDAO closely collaborates with other DeFi protocols in Astar/Polkadot ecosystem to provide optimized yield strategies and higher APY.
  4. XCM bridge = Polkadot ecosystem exposure. AstridDAO, will soon reap the benefits of the XCM bridge, which will permit it to interoperate with the entire PolkadotEcosystem.
  5. DAO governance = more flexibility & decentralization. AstridDAO has on-chain governance, it can adjust protocol parameters (e.g., liquidation ratio), add collateral assets, improve proposals via veATID.

About AstridDAO

AstridDAO a decentralized money market protocol and multi-collateral stablecoin built on Astar and the Polkadot ecosystem, allowing users to borrow $BAI, a stablecoin hard-pegged to USD against risk assets at 0% interest and minimum collateral ratio. This mechanism enables users to leverage in their risk assets, including $ASTR, $BTC, $ETH, and $DOT without selling them.

Website | Twitter |

Related

Market Stats:
BTC Dominance: 42.48%(-0.24%/24h)
ETH Dominance: 15.49%(+0.51%/24h)
Defi Market Cap: $38.23B(+20.17%/24h)
Total Market Cap: $962.68B(+3.20%/24h)
Total Trading Volume 24h: $63.26B(+0.85%/24h)
ETH Market Cap: $149.08B
Defi to ETH Ratio: 25.65%
Defi Dominance: 3.8%
Altcoin Market Cap: $553.68B
Altcoin Volume 24h: $38.81B
Total Cryptocurrencies: 19999
Active Cryptocurrencies: 9946
Active Market Pairs: 58874
Active Exchanges: 523
Total Exchanges: 1683