Starfish Finance Proposes DeFi-NFT Convergence on Polkadot

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Sep­tem­ber 30, 2022 – Paris, France


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 ver­sion two. 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 inter­chain 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 Web 3.0 economy.

Learn more about Starfish Finance here.

Contact

Part­ner­ship lead, Starfish Finance

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