AstridDAO Partners with ArthSwap to Promote the Astar Ecosystem
Hello, everyone!
We launched AstridDAO at 12 PM UTC yesterday. In less than 24 hours, we have reached over $40M in Total Value Locked with our 1st type of collateral, i.e. $ASTR. Right now, over 200M ASTR tokens are locked and over 13M USD-pegged stablecoin $BAI are issued by AstridDAO. Thank you everyone for your support!
In the coming days, we will continue to optimize AstridDAO’s user experience, prepare for the multi-collateral launch, and bring the best product and more good news to the community.
Today, we are happy to announce our 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.
About the Partnership
As part of the first phase of our 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. We 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%.
https://medium.com/astriddao/astriddao-user-guide-for-starters-9fbcd29c7ed0
After borrowing $BAI from AstridDAO, users will be able to add liquidity to the $BAI-related trading pairs on ArthSwap including BAI-USDC and BAI-WASTR pairs.
Notice that AstridWASTR on AstridDAO and ArthWASTR on ArthSwap are different. If you wrap ASTR at AstridDAO, please visit https://astar.astriddao.xyz/ to convert AstridWASTR to ASTR and re-wrap at ArthSwap. However, we will improve the user experience here very soon.
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.
