Zenlink Partners with AstridDAO
Zenlink Partners with AstridDAO, the leading over-collateralized stablecoin protocol on the Astar Network.
As the two DeFi infrastructures in the Astar ecosystem, they will work with AstridDAO to expand the use cases of the Astar ecosystem’s native stablecoin, BAI, and further enhance the community’s DeFi experience through synergies that will drive the Astar ecosystem forward.
As part of the first phase of partnership:
- Zenlink will adopt $BAI as the base stablecoin of 4pool (the other 3 stablecoins are USDC, BUSD, and DAI) to promote $BAI adoption and provide a revenue stream for $BAI holders.
- AstridDAO will add $ATID rewards to Zenlink 4pool.
- Zenlink and AstridDAO will work together in terms of marketing and community building to create synergies and achieve remarkable growth.
In addition, they will explore collaboration on BAI’s mint collateral, which is just the beginning, and they leverage the combinability and scalability of protocol to provide the Astar community with more diverse DeFi products and benefit from it.
After borrowing $BAI from AstridDAO, users will be able to add liquidity to 4pool on Zenlink and then you can stake 4pool LP tokens to the LP Farm on Zenlink to earn rewards. You can refer to this tutorial: https://wiki.zenlink.pro/zenlink-dex-dapp/hybrid-amm#user-guide
Notice that AstridWASTR on AstridDAO and WASTR (0xAeaaf0e2c81Af264101B9129C00F4440cCF0F720) on Zenlink are different. If you wrap ASTR at AstridDAO, please visit AstridDAO APP to convert AstridWASTR to ASTR and re-wrap at Zenlink.
About AstridDAO
AstridDAO is a decentralized money market and multi-collateral stablecoin protocol. Built on Astar and for the Polkadot ecosystem. It allows users to borrow $BAI, a stablecoin hard-pegged to USD, against risk assets at 0% interest and minimum collateral ratio. This means you can use the value in your risk assets without having to sell them.
About Zenlink
Zenlink is an underlying cross-chain DEX protocol based on Polkadot. It is committed to becoming the DEX composable hub of Polkadot. By accessing the ultimate, open, and universal cross-chain DEX protocol based on Substrate. Zenlink DEX Protocol enables all parachains to build DEX and achieve liquidity sharing in one click. Zenlink DEX Protocol includes Module, WASM, and EVM implementations. They are flexible and adaptable, allowing for customizable compositions and interoperability with different DeFi modules.
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