Starfish Finance Proposes DeFi-NFT Convergence on Polkadot – The Daily Hodl

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September 30, 2022 – Paris, France

Starfish Finance, the DeFi challenge operating on Astar Network, has shared its imaginative and prescient of how NFTs and decentralized finance will coalesce on Polkadot.

The community-driven challenge predicts the worlds of DeFi and NFTs will eventually fuse and type a brighter star, with Starfish Finance (SEAN) serving as the fortress that hosts this union.

Starfish Finance is one of many planets orbiting the Astar Network ecosystem – one of the brightest parachains within the Polkadot galaxy. Living on its primary planet is a starfish named Sean, who has vowed to enterprise into the galaxy and construct new castles.

The Starfish protocol is based on Balancer version two. It offers users the freedom to create liquidity pools of as a lot as eight completely different crypto belongings on top of a full stack DeFi product suite.

Beyond its DeFi capabilities, customers can stake NFTs on their native chain through Celer Network’s IM framework – an interchain messaging mechanism – to get pleasure from cross-chain collateralized NFT lending and borrowing.

The Starfish Finance protocol has been audited by CertiK and the Starfish group has careworn that the community’s safety is their number-one precedence. The group is now within the means of entering into collaboration with famend NFT initiatives to provide liquidity that may empower owners to entry capital with out relinquishing ownership of their cherished collectibles.

Starfish Finance is already listed on Huobi, a major top tier centralized exchange, and the staff aspires for extra listings, which could be announced as the protocol develops.

From the beginning, Starfish Finance has positioned itself as a one-stop store that gives multi-token steady and weighted swaps and embraces a multi-chain future.

Starfish began the year with conception, fundraising, forming strategic partnerships, building an inclusive neighborhood and testnet launch. For the remainder of 2022, the team will roll out their DeFi suite and refine their NFT collateralized lending and borrowing launch within the roadmap.

The eventual formation of Starfish DAO, dubbed ‘The Aquarium,’ will pave the way for everything that comes subsequent. The neighborhood council might be tasked with nurturing different parts of the challenge, from product to artwork, and from know-how to advertising.

Community members will play a big part in onboarding and whitelisting new NFT tasks as eligible collateral for Starfish’s NFT-Fi, along with managing events and activities to develop the multi-chain Web 3.0 financial system.

Learn more about Starfish Finance here.

Contact

Partnership lead, Starfish Finance

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