AstridDAO 101: Key Features, Roadmap and Tokenomics
Hello, everyone!
Today, we are going to introduce the key features, roadmap, and tokenomics of AstridDAO. This is the first comprehensive introduction to AstridDAO!
Topics
- What is AstridDAO?
- Key features
- Roadmap
- Tokenomics
What is 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.
Anyone can use AstridDAO to open a vault, deposit risk assets including $ASTR, $BTC, $ETH, $DOT, etc. as collateral, and borrow stablecoin $BAI. Vault owners must maintain a collateral-to-debt ratio above the minimum collateral ratio to avoid liquidation of the vault. However, with the instant liquidation mechanism and stability pool, AstridDAO can achieve the lowest minimum collateral ratio to ensure high capital efficiency and still remain safe.
AstridDAO is built on Astar Network, aiming to be the dominant stablecoin in the whole Polkadot ecosystem. Astar Network is the #1 TVL smart contract hub for WASM + EVM on Polkadot and the fastest-growing L1 ecosystem. After launching in January 2022, Astar Network has become the top Parachain in the Polkadot ecosystem in terms of Total Value Locked ($1.5B+) and most Ethereum assets transferred over ($200M). Astar Network is also the leading smart contract hub connecting Polkadot, Ethereum, Cosmos, and all major layer 1 blockchains.
We believe in the future of Astar Network as the multi-chain smart contract hub of Web3.0. As a candidate for the Astar Incubation Program, we will grow together with the Astar/Polkadot ecosystem. LFG!
Key Features
There are 4 key features of AstridDAO:
- Depositing risk assets and borrowing $BAI stablecoin
- Liquidity farming in stability pools via $BAI
- $ATID Staking
- DAO Governance
Users can simply earn $ATID tokens by depositing risk assets and borrowing $BAI stablecoins in the initial phase. Users can also earn $ATID tokens by providing liquidity to AstridDAO’s stability pools with $BAI, or by staking $ATID.
$ATID tokens can be staked to generate $veATID tokens, which can be used to boost $ATID rewards, share protocol revenues, earn staking rewards and etc. With $veATID, users can also participate in the DAO governance to add new collaterals, adjust protocol parameters, and etc.
Besides the 4 key features mentioned above, there are more features coming soon after the multi-collateral launch! Stay tuned!
Roadmap
2022 Q2
- AstridDAO Single-collateral Launch
- Fundraising
- Multi-collateral Launch
- IDO
2022 Q3
- veATID Staking
- CEX Listing
- Add more governance features
- XCM Festival
2022 Q4
- More explorations! Stay tuned!
Tokenomics
There are two major fungible tokens issued in the AstridDAO ecosystem, $BAI and $ATID.
$BAI is the USD-pegged stablecoin issued by AstridDAO. $BAI is used to pay out loans of AstridDAO, and can be redeemed against the underlying collateral at the face value. The supply of $BAI depends on the deposited collateral value and the overall collateral to debt ratio.
$ATID is the protocol token of AstridDAO. It can be used to generate $veATID token, which captures the fee revenue generated by the system, incentivizes early adopters, and governs the protocol in a DAO manner.
The distribution of $ATID is as below.
Total Supply of $ATID: 1,000,000,000
At last, we are launching the 1 Million $ATID giveaway campaign at 12 PM UTC, April 11(https://gleam.io/KWgJ8/astriddao-1000000-atid-giveaway). Please check our Twitter, spread it in the community and win $ATID rewards! LFG!!!
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.
