Announcing Quasar’s Expansion to EVM, starting with a Symbiotic ‘Unified Restaked LST’
At Quasar.fi, we have always been focused on unification and bringing together the fragmented elements of DeFi. While competition often takes precedence in DeFi, we believe in a different approach. We envision a future where collaboration and integration drive innovation, and so we’re excited to announce our latest step toward this: the launch of Unified Restaked LST (urLRT), an ETH Layered Restaked Asset vault in collaboration with Symbiotic, Mellow Finance, Union, and other soon to be announced partners.
Check it out on Mellow Finance: https://app.mellow.finance/vaults/ethereum-urlrt
Quasar 2.0
Quasar’s mission of unifying DeFi started with creating a sovereign stack and pioneering interchain smart contracts as well as yield aggregation on Osmosis.
Since founding in December 2021, we knew that the road would take us omnichain. DeFi’s future will inevitably abstract away all levels of infrastructure — from consensus, to interoperability all the way up to yield.
In order to reach more users and gain the ability to build better products, Quasar is expanding to the EVM. Our bet has always been IBC, and with partners like Union building the crucial steps required to connect a magnitude of ecosystems with a unified interoperability standard, the time to expand is now. Finding the ideal starting point is essential, and we have chosen the Shared Security Space.
It’s our starting point because it has the worst fragmentation and levels of complexity on the backend (with products like Pendle, multiple LRTs and LSTs, project-specific Vaults, etc.) and single delta exposure (everything is either denominated in ETH, BTC or USD) but above all, it’s specifically catered to the most passive user group in crypto — the Stakers.
We believe that building our LSA (Layered Staked Asset) future in the Shared Security Space has the highest chance of creating meaningful adoption and growth. In order to get there though, we need to take it step by step, starting now!
EVM
Quasar is fortunate to collaborate with partners who share our belief that the ever-growing EVM ecosystem is complex and innovation is needed to curb liquidity fragmentation; this will be achieved through unification. Remember our Layered Staking Assets (LSA) announcement? This Unified Restaked LST (urLRT) launch is the first step in that journey, the first foundational Lego block for our forthcoming qsrASSETS, and the start of our long-term plan to unify DeFi and create a new generation of yield-bearing tokens.
Unification
Our vision transcends the boundaries of specific infrastructure designs. Unified Restaked LST is an ever-growing and iterating product that is today starting with its inaugural group of collaborators Symbiotic, Mellow, Quasar, Union, and Drosera. All of these projects are crucial in our pursuit of a unified DeFi ecosystem. The layers that make up this approach are:
- Shared Security: This is crucial, as it ensures that interconnected entities can mutually enhance their defenses, leading to a more resilient and robust network overall.
- Deployment Infrastructure: This creates a standard that can be broadly depended on and utilized across ecosystems.
- Interoperability: Ensuring seamless communication and fungibility across multiple ecosystems.
- Security: Robust security using the leading automated threat protection mechanics.
- Orchestration: Making advanced risk management and yield generation accessible for all users.
Each layer serves an essential purpose and must work together in a streamlined and user-friendly manner. This is also where our collaboration with Mellow Finance and their permissionless LRT creation tool comes into its own. It is essential to creating a democratized approach to accessing and creating financial products and services. A real LSA future involves many partners, from vault curators to LST and LRT issuers. urLRT is our in-house beginning, to build out the required infrastructure and connections, leading to bigger collaborations in the near future. We are not aiming to compete with other LRTs — we are launching a product that proves — unification is the way to go.
Get To The Points
Points campaigns have become a way to gain attention but not necessarily to add value. At Quasar, what matters is not only the quantity of points but the quality of those destinations. Our goal with Unified Restaked LST is to establish it as the preferred destination for users interested in a diversified basket of points and a place where protocols and users alike can find value.
By focusing on these key verticals: access, yield, safety, interoperability, and fungibility, Unified Restaked LST ensures that the current system's complexities are streamlined into a single, cohesive experience.
Tomorrow, we’ll launch our new Unified Restaked LST vault on Mellow Finance! Stay tuned to our social media for all the details.
Note: Points will be retroactively awarded to users of urLRT. There may be different points values for assets deposited into Symbiotic than those pending restocking deposits. Users will begin by receiving a Mellow Finance points boost, followed by Symbiotic once their caps are increased, with multiple other points in the pipeline.
What's next?
Follow our socials for updates on our existing products on Osmosis and future releases. Our Unified Restaked LST is just the beginning.
Join our Community:
Twitter: https://twitter.com/quasarfi
Discord: https://discord.gg/quasarfi
Telegram: https://t.me/quasarfi
Find out more here:
Website: quasar.fi
Docs: docs.quasar.fi
