Introducing Sirius Finance: The first cross-chain stablecoin AMM & farming center on Astar Network
Stablecoin, held by institutions and high-net-work risk-averse investors, is always the most crucial segment to lock large and deep liquidity, as it has already been proved by success of Curve Finance.
Sirius Finance is a cross-chain stablecoin AMM, attracting and locking tremendous value with low-slippage trading costs & high APY for LPs on Astar Network, allowing more financial innovation & yield boosting for Astar users.
Based on Astar Network, Sirius Finance aims to be a one-stop low-slippage swap market for various stablecoins within the Polkadot ecosystem.
Ultimately, it serves as a stablecoin swap DAO connecting Polkadot, EVM-compatible chains and other major layer1 chains.
Major demands
LIQUIDITY: Deep liquidity is always a necessity for Astar and stablecoin is an ideal place to draw liquidity.
YIELD: Lack of yield opportunities for high-net-worth clients & institutions on Astar or Polkadot.
CONNECTION: Various native stablecoins would soon be deployed on Astar with absence of low-slippage AMM.
INTEGRATION: Various protocols, like lending & aggregator, integrate with Sirius Finance to generate greater yields for liquidity providers, thereby increasing overall TVL for Astar.
So we offer a low-slippage stablecoin AMM algorithm based protocol solution: Sirius Finance.
Backed by Astar and also as the first stablecoin AMM on Astar, Sirius Finance is able to:
- Receive initial liquidity provision from various stablecoins on Astar
2. Collaborate with multiple potential Astar native protocols for APY boosting
Most importanly, as soon as Astar enbales cross-chain, Sirius Finance can connect Polkadot parachains via XCMP & Astar Network, connect all EVM ecosystems via c-bridge, allow stablecoin swap between EVM compatible chains and Polkadot ecosystem by one click.
AMM Algorithm & Pool Design
Basepool: USDC, USDT, DAI and BUSD.
Sirius Finance adopts the least risky and market-proofed assets to basepools while more stablecoins and LPs will be adopted by metapool in the near future by governance.
Liquidity provider incentives
45% of total SRS will be liquidity provider incentives which will be divided into 3 parts including kickoff reward program (1%), early adopter program (1% ) and long-term liquidity provider incentive plan (43%).
The longer lock-up time and the more lock-up SRS, the higher the boost factor (up to x3 maximum)and also an increase in the voting weight which can be used to:
- New pools establishment
2. Liquidity gauge parameters
3. Preferred rights for airdropped tokens
…
With the expansion of Astar and integration with other protocols, voting will become more essential to decide how future rewards will be distributed.
Kickoff reward program: TBA
Early adopter program: TBA
SRS tokenmetrics
$SRS Utility
1.Staking: SRS can be staked to receive trading fees from the Sirius Finance.
2.Boosting: boost your rewards on provided liquidity. When vote locking SRS, you will also earn a boost on your provided liquidity of up to 3x.
3.Yield profits: 50% of trading fees are collected and used to buy 3SRS, the LP token for the TriPool, which are then distributed to veSRS holders.
4.Governance: once SRS holders vote-lock their veSRS after at least 1 year, they can start voting on various DAO proposals and pool parameters.
5.Transaction fee: each swap transaction takes a fee.
2022 Roadmap
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