Amara x Frax: Partnership Proposal - Include FRAX to Amara's Smart Contract

Governance Proposals Liquidity Providing
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Hi everyone, 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. Amara will offer one million tokens as the incentive to support FRAX. Also, FRAX holders can benefit from vault and Amara by staking FRAX and LP token on Amara’s DApp.

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; and AmaraPay, a global gateway payment protocol.

Webiste：https://www.amara.link/
Twitter：https://twitter.com/AmaraFinance
More channels can be found on our website.

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.

Achievements

  • 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 is included by CMC and CG.
  • The amount of staked MARA in the pool of Amara Stake is 15 million.

Proposal

Include FRAX in Amara’s smart contract so that Amara users can borrow FRAX on our DApp, exploring more application scenarios for FRAX. Amara will offer a million tokens as the incentive to support FRAX. FRAX holders can benefit from vault and Amara by staking FRAX and LP token on Amara’s DApp.

What Frax community will get

  • FRAX holders can gain more by staking FRAX/LP and autocompounding with Amara’s lending service.
  • Users can transfer certain assets between Moonriver、Moonbeam and BSC via Amara’s bridge.
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The market potential of LP lending is still very large. I hope that the cooperation between the two projects can make use of Frax’s LP.

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i think we already have something like this on ETH and POLY chains with the Themis protocol, which has seen very little adoption at this stage (around $1.82 FRAX borrowed) , but they are still very early.

it would be be good to see this idea expanded across other chains and will help grow the FRAX ecosystem overall, but i feel this may be a long game before we see any mass adoption. but it will come, in time.

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I believe this is a good partner that will shape the both project positively

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Partnership with amara is good decision for both project :raised_hands:

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One of the best mutual partnerships, both ecosystem will positively leverage the opportunity and incentive this partnership will give birth to.
Frax, take part in this mission of amars best croschain lending protocol and payment solution.

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Hey, you are more than free to add Frax as borrowable asset without Frax’s permission. If you are looking at investments imo talks could be done after we see how the deployed product works and users it attracts