The inevitable: This project thinks the worlds of DeFi and NFTs are about to merge

A community-driven platform is making a daring prediction for the longer term: the worlds of DeFi and NFTs will ultimately fuse and type a brand new, brighter star.

Starfish Finance says its infrastructure has been inbuilt anticipation of this taking place — and it is primarily based on Astar Community, one in every of Polkadot’s prime parachains.

The Starfish protocol relies on Balancer V2. Customers have the liberty to create liquidity swimming pools of as much as eight totally different cryptoassets on prime of a full stack DeFi product suite. Past its DeFi capabilities, customers can stake NFTs on their native chain by way of Celer Network’s latest IM framework, an inter-chain messaging mechanism, in order to get pleasure from cross-chain NFT collateralized lending and borrowing on Starfish Finance. The Starfish Workforce has pressured that the group’s safety is their primary precedence, and the protocol has handed CertiK’s audit.

Starfish’s management is now getting into into collaborations with famend NFT tasks — all with a imaginative and prescient to supply liquidity to collectors who would in any other case need to promote their beloved possessions. This state of affairs will develop into more and more related because the market matures sooner or later, the place NFT property will likely be our digital commodities. A number of main centralized alternate area stations have simply docked Starfish spaceships notably Huobi. The staff anticipates extra itemizing bulletins will come because the undertaking develops. 

As part of Starfish’s cultural motion to invade Web3, the undertaking has created a Web3 personality test — a enjoyable means to determine what kind of investor you might be. 

The Starfish means

From the start, Starfish Finance has been positioning itself as a one-stop journey that provides multi-token steady and weighted swaps — and embraces a multi-chain future. Starfish leaders say the model stands for group, collaboration and comfort — the protocol’s three core values — making ready for the approaching future the place NFT-Fi will develop into an indispensable element in Web3.

Starfish Finance began 2022 with conception, fundraising, forming strategic partnerships, constructing an inclusive group, and testnet launch. For the remainder of 2022, the staff will roll out their DeFi suite and anticipate their NFT collateralized lending and borrowing launch within the roadmap.

The eventual formation of Starfish DAO — dubbed “The Aquarium” — after the mainnet launch will sow the seeds of Starfish’s motto: “Buidling whereas vibing.” 

The group council will likely be tasked with nurturing totally different components of the undertaking, from product to artwork, and from expertise to advertising and marketing. Group members will play an enormous half in onboarding and whitelisting new NFT tasks as eligible collateral for Starfish’s NFT-Fi, along with managing occasions and actions to develop the multi-chain Web3 financial system.