AstridDAO Partnership With ArthSwap
Today, Astrid Team are happy to announce the AstridDAO partnership with ArthSwap, the leading DEX on Astar Network. We will work together with ArthSwap to expand the use cases for $BAI and further increase the reward for $ATID holders. As two of the DeFi infrastructure in the Astar ecosystem, we will work together to accelerate the mass adoption of Astar Network.
What is AstridDAO?
AstridDAO is a decentralized money market and stablecoin platform on Astar Network. People can lock up riskier assets as collateral and borrow stablecoin assets in return. People can use the borrowed stablecoins to add liquidity to AstridDAO’s stability pool and earn $ATID rewards in return, or farm on other protocols to earn higher interest without selling the riskier assets.
AstridDAO utilizes an Instant Liquidation mechanism, allowing the system to run with a 0% interest rate and a low minimum collateral ratio while remaining safe. AstridDAO can achieve higher capital efficiency compared with existing CDP projects.
About the AstridDAO Partnership with ArthSwap:
As part of the first phase of their partnership:
- ArthSwap will provide higher APR to BAI-USDC and BAI-WASTR LP pools to further increase the reward for AstridDAO users and $BAI/$ATID holders.
- ArthSwap and AstridDAO will work together in terms of marketing and community building to create synergies and achieve remarkable growth.
- AstridDAO will join ArthSwap’s IDO platform. More details will be finalized and announced later.
This is just the start. They hope to work together and create synergies to further promote the Astar ecosystem.
How to yield with $BAI on ArthSwap
Please visit https://astar.astriddao.xyz/#/ and refer to our tutorial below to learn how to deposit $ASTR, earn $ATID, and borrow $BAI. During this process, you will be able to receive APR up to 120%.
AstridDAO User Guide for Starters
This is a complete user guide for beginner to the Web3 world.
After borrowing $BAI from AstridDAO, users will be able to add liquidity to $BAI-related trading pairs on ArthSwap including BAI-USDC and BAI-WASTR pairs.
After adding liquidity, we may stake the LP tokens into ArthSwap’s LP Farm. Then, you will be able to enjoy a combined APR up to 950% with $BAI from AstridDAO and liquidity farming on ArthSwap.
About ArthSwap
ArthSwap is a leading DEX on Astar network. The mission is to contribute to Astar Network ecosystem’s expansion. With simple UI and design for High APY, it enables High-Frequency Trade on Astar Network. ArthSwap focuses on the growth of the Astar Network ecosystem and is willing to optimize all the elements for Astar, so is considered as an “Astar-native” dApp.
About AstridDAO
AstridDAO is a decentralized money market and multi-collateral stablecoin protocol built on Astar and for the Polkadot ecosystem, which 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 including $ASTR, $BTC, $ETH, $DOT, etc. without having to sell them.
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Source
https://medium.com/@arth_swap/astriddao-and-arthswap-partner-to-increase-astar-network-421a8299eac0
