Dear Astar Community,
This is Matt, the Community Lead at SiO2 Finance team. We are building a multi-VM lending hub on Astar for Polkadot and would love to share more about our progress and introduce SiO2 to the community. We would like to join Astar dApp Staking program.
SiO2 Finance is the multi-VM lending hub on Astar for Polkadot. Silicon dioxide (SiO2) is an oxide of Silicon and the major component of crystal, the purest gem in the natural world.
SiO2 Finance is designed to serve the Astar/Polkadot community with the best user experience, easy-to-use one-click features, and transparent governance.
Why are we building SiO2 Finance?
Since Astar is the multi-VM smart contract hub on Polkadot, to realize a more interoperable future, we believe a multi-VM lending protocol is needed to continue the momentum of the Astar ecosystem. Thus, several passionate community members and contributors to AstridDAO came up with the idea of building a more transparent, user-friendly lending protocol to better serve the Astar/Polkadot community and provide more utilities to $BAI.
SiO2 Finance will be developed by some passionate developers and who have contributed to AstridDAO, the multi-collateral stablecoin on Astar for Polkadot, as well as a group of passionate members from the Astar community.
The team has rich experience in smart contract development, growth and community promotion.
Currently SiO2 is supporting 10 assets including:
• ASTR, DOT, BAI, ceUSDC, ceUSDT, BUSD, DAI, wETH,wBTC, BNB
• Right now we aim to add more native assets to our app – nASTR, iBTC etc.
• Lending/borrowing:: allow users to use multiple assets as collateral and borrow other assets
• Depositing: allow users to deposit multiple assets and earn passive income from interests
• veStaking: incentivize long-term token holders over short-term holders with $SIO2
• One-click flashloan: will allow users to use flashloan for position migration (e.g. move position from one protocol to another in seconds), arbitrages without having to code
• One-click short position: will allow users to short an asset with only one click
• Multi-VM support: both EVM and WASM will be supported in one frontend
We aim to build multiple one-click solutions and become the most user-friendly lending product on Astar for Polkadot.
We welcome the community for any feedback and improvement proposals. SiO2 Finance will be of the community, by the community and for the community.
We are happy to inform you that all of the key smart contracts in the SiO2 Finance have been audited by Peckshield, the AAVE v2 auditor. Peckshield reviewed our design document and related smart contract source code of the SiO2 Finance protocol.
Nevertheless, we will continue to monitor the most critical issues in the report and optimize our codebase and processes to mitigate security risks.
By adhering to the blockchain industry’s best practices, you can rest assured that you are using a lending protocol that has passed one of the Web3 industry’s most rigorous audits to its highest standards.
• Mainnet launch in August 2022
• Launch 10 collaterals
• Passing audit by Peckshield
• TVL grow to $3.5m+, currently number 5 on Astar Network
dApp Staking Reward Usage Breakdown:
All rewards from dApp Staking will be used for the Astar common goods and operations including but not limited to:
1. Co-Marketing Campaigns
• Other events on discord
2. Security Improvements
3. Engineer & Ambassador Program Costs
4. SiO2 Token Buybacks
Here are the basic links to our product and communities👇