Paris, France, 30th September, 2022, Chainwire
Starfish Finance, the DeFi project running on Astar Network, has shared its vision of how NFTs and decentralized finance will coalesce on Polkadot. The community-driven project predicts the worlds of DeFi and NFTs will eventually fuse and form 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 in the Polkadot galaxy. Living on its primary planet is a starfish named Sean, who has vowed to venture into the galaxy and build new castles.
The Starfish protocol is based on Balancer v2. It gives users the freedom to create liquidity pools of up to eight different crypto assets on top of a full stack DeFi product suite. Beyond its DeFi capabilities, users can stake NFTs on their native chain through Celer Network’s IM framework, an inter-chain messaging mechanism, to enjoy cross-chain collateralized NFT lending and borrowing.
The Starfish Finance protocol has been audited by CertiK and the Starfish team has stressed that the community’s security is their number one priority. The team is now in the process of entering into collaboration with renowned NFT projects to provide liquidity that will empower owners to access capital without relinquishing ownership of their cherished collectibles. Starfish Finance is already listed on Huobi, a major top tier centralized exchange, and the team aspires for more listings which might be announced as the protocol develops.
From the beginning, Starfish Finance has positioned itself as a one-stop shop that offers multi-token stable and weighted swaps and embraces a multi-chain future. Starfish started the year with conception, fundraising, forming strategic partnerships, building an inclusive community, and testnet launch. For the rest of 2022, the team will roll out their DeFi suite and refine their NFT collateralized lending and borrowing launch in the roadmap.
The eventual formation of Starfish DAO, dubbed The Aquarium, will pave the way for everything that comes next. The community council will be tasked with nurturing different parts of the project, from product to art, and from technology to marketing. Community members will play a big part in onboarding and whitelisting new NFT projects as eligible collateral for Starfish’s NFT-Fi, in addition to managing events and activities to grow the multi-chain Web3 economy.
Learn more about Starfish Finance
- Partnership Lead
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.