A New Universe of Cross-chain Financial Aggregation
Amara Finance is a cross-chain financial aggregator for NextDeFi aiming to be the DeFi collaboration center to bridge Polkadot and the off-DOT world.
What is Amara？
Amara Finance is a cross-chain financial aggregator for NextDeFi.
AmaraLend,a creative multi-chain deployed lending protocol to release assets efficiency and bring DeFi to a new Era;
AmaraLink,a multisig cross-chain bridge connecting Polkadot and off-DOT world;
AmaraPay,an aggregated payment gateway protocol responding swiftly across the world.
What Is Amara Finance(MARA)?
Amara is a Polkadot-based multi-chain asset lending platform. Amara seamlessly connects popular cryptocurrency in the market via low-friction value transmission. Capture high quality long tail assets, release the liquidity of long tail assets, extend DeFi to new border.
1. Development of blockchain technology
The concept of "decentralization" arising from blockchain technology is being used in increasingly more use cases and shows significant value. Bitcoin brings "decentralized currency" to the world of blockchains, furthermore, Ethereum system showcases "smart contract", proving the importance of decentralization for distributed applications from the application perspective. As a next-generation high-performance blockchain network protocol, Polkadot connects multiple exclusive blockchain networks to a unified one with heterogeneous multi-chain network, and its excellent performance will bring greater value space and growth potential to the digital world. Polkadot is built upon the Substrate framework and has significant advantages over Ethereum. While sharing its security, cross-chain interoperability, and forkless upgrades on the chain, Polkadot with more chains and more specialization means more possibilities for innovation.
Development and rising demand for DeFi
The year of 2020 has seen DeFi grow from niche to the most shining star in the cryptocurrency ecosystem, guiding blockchain into ecological spring. DeFi (Decentralized Finance) owns obvious advantages and potential application prospects compared with traditional finance. At this stage and in the foreseeable future, DeFi has four opportunities:
• Improve and upgrade the existing financial services in a distributed way. For instance, the request for asset collateral lending, collateral liquidation and settlement, financial system security, and strict risk control, etc, which still exist rather than subverted in DeFi.
• Become a distributed fundamental support in the emerging financial field.
• Improve settlement efficiency, reconstruct governance trust, and coordinate multiagent collaboration on the blockchain network.
• Solve the existed issues of DeFi, on which the projects are distributed in dots and lack connection, and achieve the interconnection among multiple DeFi projects.
- Introduction of Amara
Amara: Polkadot-based multi-chain asset lending platform. Amara seamlessly connects popular cryptocurrency in the market via low-friction value transmission. Capture high-quality long tail assets, release the liquidity of long tail assets, extend DeFi to new border
Features of Amara
• Supports long-tail asset loan as well as mainstream assets.
• Fast and low-cost cross chain transactions.
• Interest rate model. Interest rate bomb function is introduced to avoid risk under extreme market fluctuation.
• NFT. Top NFT can be mortgaged.
• Risk management. Mainstream assets are separated with long-tail assets, total loan limits, Staking insurance, insurance deposits are set to insure financial safety.
• Acceleration pool. Encourage users to hold by share profit and accelerate mining.
In the early stage, Amara will mainly support the popular assets on Acala and Polkadot. Based on Acala Network, Amara lending protocol supports assets including Staking liquidity release assets LDOT, LKSM, multi-collateralized stablecoin backed by cross-chain assets (aUSD), etc. In addition, Amara will also support cross-chain assets such as BTC, ETH, DAI, USDT and USDC through cross-chain bridges, which is the main destination of Amara in its first stage.
After completing the first phase, Amara will become the top lending protocol of Polkadot.
In the next stage, on the one hand, the long-tail quality assets will be included in Amara lending protocol, so as to fully release the liquidity of long tail assets. On the other hand, Amara will seek the appropriate path to achieve transformation from the lending protocol to Amara Finance, and develop various financial services such as unsecured loan (flash loans, third-party credit loan, etc.), cross-chain lending business, variable flexible interest
rate, NFT, forecast market, etc., so as to build itself into an ecological DeFi financia lplatform of Polkadot.
Defi yield farming allows individuals to earn tokens in exchange for their participation in Defi applications, it also can guild towards more balanced token supply-demand market, and reflect authenticate value.
3 ways to participate Amara yield farming
• Staking. By deposit MARA and Polkadot network tokens (DOT, KSM, ACA ), anyone can participate in Amara farming.
• Loan. One can participate when become a part of the loan procedure (lending or borrowing), at the initial phase of Amara protocol, token distribution will be adjusted to ensure fairness.
• Liquidity provider. When provide liquidity for MARA/DOT, MARA/KSM, MARA/ACA, MARA/USDT transactions, one can get transactions fee and participate Amara farming.
Financial derivatives of DeFi
After the first phase of Amara protocol was proven stable and sustainable, more utilization forms will be introduced to expand application scenario.
Include but not limited:
• Simplified share option based on ACA/DOT value.
• Leveraged loan financial products.
• Stable tokens associated with USDT to be instant exchange with other tokens.
Along with the development of Polkadot network, NFT will attract more users to attend.
Top rate NFT mortgaged loan
Amara will accept certain top-rated NFT as mortgage and grant loan accordingly. It will benefit NFT circulation.
Amara NFT distribution
Amara will distribute its own NFT products, along with the products are rights and interests, e.g. elevate mining efficacy, discount on transaction fee, token airdrop, and so on. Amara Finance Polkadot News Polkadot Defi Blockchain.com