This project says DeFi and NFTs are on the brink of converging — and it’s been built to ride the wave of what’s going to happen in the future.
A community-driven platform is making a bold prediction for the future: the worlds of DeFi and NFTs will eventually fuse and form a new, brighter star.
Starfish Finance says its infrastructure has been built in anticipation of this happening — and it’s based on Astar Network, one of Polkadot’s top parachains.
The Starfish protocol is based on Balancer V2. Users have the freedom to create liquidity pools of up to eight different cryptoassets 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 latest IM framework, an inter-chain messaging mechanism, so as to enjoy cross-chain NFT collateralized lending and borrowing on Starfish Finance. The Starfish Team has stressed that the community’s security is their number one priority, and the protocol has passed CertiK’s audit.
Starfish’s leadership is now entering into collaborations with renowned NFT projects — all with a vision to provide liquidity to collectors who would otherwise have to sell their beloved possessions. This scenario will become increasingly relevant as the market matures in the future, where NFT assets will be our digital commodities. Several major centralized exchange space stations have just docked Starfish spaceships notably Huobi. The team anticipates more listing announcements will come as the project develops.
As a part of Starfish’s cultural movement to invade Web3, the project has created a Web3 personality test — a fun way to figure out what type of investor you are.
From the beginning, Starfish Finance has been positioning itself as a one-stop journey that offers multi-token stable and weighted swaps — and embraces a multi-chain future. Starfish leaders say the brand stands for community, collaboration and convenience — the protocol’s three core values — preparing for the imminent future where NFT-Fi will become an indispensable component in Web3.
Starfish Finance started 2022 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 anticipate their NFT collateralized lending and borrowing launch in the roadmap.
The eventual formation of Starfish DAO — dubbed “The Aquarium” — after the mainnet launch will sow the seeds of Starfish’s motto: “Buidling while vibing.”
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.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
