Apr 12, 2022
Orcus Finance X Starbank Partnership Announcement
What is Starbank?
The Starbank protocol is based on Balancer V2, which adds further incentives for Astar Network participants by introducing revenue sharing through the next generation AMM protocol. Starbank introduces 3 kinds of pools:
- Weighted Pools - enable users to invest in several cryptocurrencies like Index Funds easily. Users are able to create pools that can contain up to 8 different tokens. It opens the opportunity to create a managed Index Fund portfolio inside the one pool!
- Stable Pools - allow trading of Stable Tokens and other pegged assets. This pool allows for larger trades of these assets before encountering a significant impact on the price.
- Liquidity Bootstrapping Pools - allow other protocols to launch on Astar using fundraising functionality inside!
Liquidity providers will be rewarded with Starbank’s native token $SBX. Users will receive rewards worth of fees from trades and get more $SBX rewards by staking in boosted pools. Staked tokens enable users to take part in the governance.
Starbank aims to be an all-in-one decentralized investment platform. Our vision is to bring liquidity from other chains and provide stability to Astar network, and it will provide more financial opportunity to all. It’s not only for users, other protocols as well. Your DeFi home is here. — Starbank states.
What are the benefits of partnership?
Since Orcus Finance delivers the first Fractional-Algorithmic Stablecoin with the technology of protocol owned liquidity which is adding stability to Orcus Finance, we are going to ensure the utility of $oUSD stablecoin as much as possible inside the ecosystem.
In the case of partnership with Starbank, we want to deliver special Stable Pools in the form of DAI/USDC/oUSD as an example which will ensure low slippage trades between different stablecoins, synthetic and asset-pegged tokens using the StableSwap mechanism.
At Orcus Finance we believe that following these points can highly ensure the demand and stability for $oUSD stablecoin:
- Usual 50%/50% stablecoin pools
- Stable Pools: DAI/USDC/oUSD e.g.
- Meta Pools: DAI/USDC/USDT (3Token) + oUSD
- $oUSD acceptance as collateral in Lending protocols
👉Don’t forget to check the details of the $ORU public sale at Orcus Launchpad
