Starfish Finance Suggeste DeFi-NFT Convergence on Polkadot

Posted on the 03 October 2022 by Nftnewspro

The decentralized finance project Starfish Finance, which runs on the Astar Network, has shared its outlook for how NFTs and decentralized finance will come together on Polkadot. The community-driven project asserts that Starfish Finance ($SEAN) will act as the fortress that harbors the eventual union of the DeFi and NFTs worlds to create a brighter star.

One of the many planets circling the Astar Network ecosystem, one of the most prominent chains in the Polkadot galaxy, is Starfish Finance. A starfish named Sean, who resides on its home planet, has vowed to explore the galaxy and construct new castles.

Based on Balancer v2, the Starfish protocol was created. On top of a full stack DeFi product suite, it allows consumers the choice to construct liquidity pools of up to eight different crypto assets. Beyond its DeFi features, Celer Network’s IM infrastructure, an inter-chain messaging system, allows users to stake NFTs on their home chain to take advantage of cross-chain collateralized NFT lending and borrowing.

The company hopes to list Starfish Finance on more exchanges that may be announced as the protocol advances. Starfish Finance is now listed on Huobi, a significant top-tier centralized exchange.

Starfish Finance has built a reputation as a one-stop shop that supports a multi-chain future and provides multi-token stable and weighted swaps. Starfish began the year by coming up with the idea, raising money, establishing strategic alliances, creating a welcoming community, and launching the testnet. The team will release their DeFi suite for the remainder of 2022 and make adjustments to their roadmap for the launch of NFT collateralized lending and borrowing.

Everything that happens after Starfish DAO, also known as The Aquarium, eventually forms, is made possible. The community council will be tasked with supporting various aspects of the project, from technology to marketing and from product to art. Members of the community will play a significant role in managing events and initiatives to expand the multi-chain Web3 economy, as well as in onboarding and whitelisting new NFT projects as acceptable collateral for Starfish’s NFT-Fi.

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