Hi Frax community, I am Jane from Amara Finance.
Amara is here to give a partnership proposal with Frax, that is including FRAX in Amara’s smart contract so that Amara users can borrow FRAX on our DApp, exploring more application scenarios for FRAX.
- Introduce Frax stablecoin to Moonriver ecosystem, adding FRAX LP as borrowable asset in AmaraLend. As the creditor, Frax will benefit from changing interest rate and MARA farming.
- Frax provides an initial liquidity of 100,000 FRAX to FRAX lending pool.
- Amara will offer 1M tokens as the incentive to support FRAX lending. Also, FRAX holders can benefit by staking FRAX and LP on Amara’s DApp.
- Co-marketing of the partnership between Frax and Amara (community, twitter, etc.)
What Frax community will get
- Users can gain more by staking FRAX/LP and LP’s autocompounding with Amara’s lending service.
- Users can transfer certain assets between Moonriver、Moonbeam and BSC via Amara’s bridge.
About Amara Finance
Amara Finance is a multi-chain deployed DeFi2.0 protocol.
Core products include:
AmaraLend, a LP liquidity lending protocol;
AmaraLink, a multisig cross-chain bridge based on Chainsafe;
AmaraPay, a global gateway payment protocol.
Products and the update
- AmaraLend - Users can gain more by staking LP and autocompounding, which will also increase asset utilisation of DEX and users’ benefits. To date, AmaraLend has accomplished the deployment of AmaraLend testnet on Moonriver, BSC and Harmony. It will be officially launched in April or May.
- AmaraLink - It can achieve asset transfer between Moonriver, Moonbeam and BSC for certain assets. It has finished the internal test and will be launched soon.
- Amara Stake - Launched last month, allowing users to gain more MARA by staking MARA on Amara’s website.
- AmaraLink received Polygon’s grant and was awarded Moonbeam’s prize in 2021.
- 150k+ supporters in total on Telegram, Twitter, Discord, Medium, etc.
- MARA has been listed on MEXC and Solarbeam, and is included by CMC and CG.
- The amount of staked MARA in the pool of Amara Stake is 15 million.