Zenlink Partners with AstridDAO to Drive Astar Ecosystem Development
Dear Community, we are just 1 day away from the launch of Zenlink on Astar Network!
Today, we are pleased to announce our partnership with AstridDAO, the leading over-collateralized stablecoin protocol on the Astar Network. As the two DeFi infrastructures in the Astar ecosystem, we will work with AstridDAO to expand the use cases of the Astar ecosystem’s native stablecoin, BAI, and further enhance the community’s DeFi experience through synergies that will drive the Astar ecosystem forward.
As part of the first phase of our partnership:
- Zenlink will adopt $BAI as the base stablecoin of 4pool (the other 3 stablecoins are USDC, BUSD, and DAI) to promote $BAI adoption and provide a revenue stream for $BAI holders.
- AstridDAO will add $ATID rewards to Zenlink 4pool.
- Zenlink and AstridDAO will work together in terms of marketing and community building to create synergies and achieve remarkable growth.
In addition, we will explore collaboration on BAI’s mint collateral, which is just the beginning, and we hope to leverage the combinability and scalability of our protocol to provide the Astar community with more diverse DeFi products and benefit from it.
How to yield with $BAI on Zenlink
Please visit https://astar.astriddao.xyz/ and refer to our tutorial below to learn how to deposit $ASTR, earn $ATID, and borrow $BAI: https://medium.com/astriddao/astriddao-user-guide-for-starters-9fbcd29c7ed0
After borrowing $BAI from AstridDAO, users will be able to add liquidity to 4pool on Zenlink and then you can stake 4pool LP tokens to the LP Farm on Zenlink to earn rewards. You can refer to this tutorial: https://wiki.zenlink.pro/zenlink-dex-dapp/hybrid-amm#user-guide
Notice that AstridWASTR on AstridDAO and WASTR (0xAeaaf0e2c81Af264101B9129C00F4440cCF0F720) on Zenlink are different. If you wrap ASTR at AstridDAO, please visit AstridDAO APP to convert AstridWASTR to ASTR and re-wrap at Zenlink.
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.
Zenlink is an underlying cross-chain DEX protocol based on Polkadot and is committed to becoming the DEX composable hub of Polkadot. By accessing the ultimate, open, and universal cross-chain DEX protocol based on Substrate, Zenlink DEX Protocol enables all parachains to build DEX and achieve liquidity sharing in one click. Zenlink DEX Protocol includes Module, WASM, and EVM implementations, which are flexible and adaptable, allowing for customizable compositions and interoperability with different DeFi modules.
In addition, the Zenlink DEX Aggregator connects all DEX DApps on Polkadot and aggregates liquidity, providing users low slippage trading experience. Zenlink DEX Composable Hub enables developers to access the Zenlink DEX Module to build their own unique DEXs, forming a DEX composable hub for the Polkadot ecosystem.
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