As the Polkadot parachain slot auction heats up, some ecological landing projects have entered the public view and attracted unprecedented attention; Amara is one of them.
London, United Kingdom–(Newsfile Corp. – June 29, 2021) – In June 2021, Amara Finance announced that it has secured its seed round funding, and the financing scale is one million US dollars.
Investors & Partners
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Currently, Amara is financing its strategic private equity round; a new round of financing news will be released at a suitable time.
Amara: focusing on capturing Polkadot ecological value
Gavin Wood announced the initiation of the Polkadot advance network Kusama parachain slot auction. The Kusama slot auction is seen as the main rehearsal of Polkadot slot auction, the latter is more appealing and anticipated.
The meaning of the parachain auction is significant.
Before parachain, Polkadot was just Polkadot, a meta protocol with a fundamental protocol; its value is Polkadot’s own value. After parachain, the Polkadot ecosystem started, and it is the beginning of Polkadot value capturing, while the biggest value captured is from Polkadot ecological increment market.
Amara is a one stop application developed on Acala Network focusing on value capturing, and it concentrates on the Polkadot DeFi ecological increment market.
Amara proposed its personal asset cross chain protocol, hoping to introduce more assets into Polkadot ecology, realizing the expansion of the new DeFi boundary.
Two types of assets and one protocol, expand DeFi new boundary
The slogan of Amara is “expand DeFi new boundary.”
How does Amara realize it?
Amara proposed “two types of assets and one protocol.” The two assets are mainstream assets and long tail assets (premium minor crypto assets) with Mara-link assets cross chain protocol.
Amara’s loan product includes two assets: mainstream assets and long tail ones. Long tail assets are second-tier bluechip cryptos or minor assets. Multiple round market experiences tell us that compared to the stable performance of mainstream cryptos such as BTC, ETH, etc., the performance of the minor cryptos is better, and it is favored more by investors.
The Amara team focuses on two directions of long tail assets loans:
1. Stake mainstream assets and borrow long tail assets;
2. Stake long tail to borrow long tail.
The latter is more difficult, and requires a better interest model, more sound clearing mechanism, and higher asset security.
The scale of the loan market has a strong positive correlation with the scale of assets on the chain. Besides the assets in Polkadot ecology, Amara focuses on introducing more premium assets into Polkadot ecology. Mara-link is the one to take the responsibility; the asset cross chain protocol proposed by Amara introduces more premium assets into the Polkadot ecology by Mara-link. The above means not only does Amara build its products, but also it plans to deeply participate in the underlying infrastructure construction of Acala and Polkadot.
Just like the team mentioned, Acala’s DeFi structure is very solid like that of Polkadot’s, however, when facing the markets and users, Amara needs to accomplish more. Amara will not sit and wait but participate.
If the loan is the goal of the first phase of Amara, finance is the goal of the second phase. Blockchain financial derivatives have just started, Polkadot ecology’s finance is empty, this all needs exploration.
AAVE’s founder hinted that NFT is a collateral; in the Amara financial derivatives roadmap, NFT occupies an important position, besides, there are sections such as lossless lottery, market prediction, etc., and of course the loan section will be completed well first.
Tokenomics model, let value truly integrate into MARA
Amara’s crypto is MARA; that is the platform’s equity and governance crypto, the total amount is 150 million.
MARA crypto original distribution is as follows:
- 4% seed round
- 11% IDO and strategic private equity round, IDO occupies majority
- 55% mining reward, liquidity mining reward occupies a part
- 10% ecological reward
- 20% team reward
MARA use cases are mainly:
- Community governance: Eligible MARA holders can propose constructive advice to Amara. All MARA holders have the corresponding voting rights. Amara establishes a dynamic incentive mechanism to improve user governance efficiency.
- Debt pool quota: The long-tail asset loan section has a special deposit and loan quota, and stake MARA to obtain more loan quota.
- Insurance Staking: The MARA deposited in insurance staking is used as a risk margin in certain emergency situations.
- Asset gain: Users’ mining process introduces the “popular mining acceleration pool”. The more MARA they hold, the more mining profit.
- Risk deposit: Amara platform revenue will be used to purchase high-quality stable assets as platform risk deposit, such as BTC/DOT/ETH/KSM/ACA, etc. The platform can mortgage these assets, and under the premise of asset security, borrow assets from other loan platforms to secure user assets.
- Asset withdrawal: When withdrawing assets, the repurchase and destruction of vToken requires a certain amount of MARA as the destruction cost.
Technology and operation power until the launch of the Acala main network.
Currently, the Amara loan products beta version is deployed in the Acala Mandla TC6 version test network, which is released after the main network’s launching.
The deposits and loans of USDT, ACA, BTC and DOT assets are first launched, and liquidity farming is available on the test net. Users are rewarded with MARA by deposits and lending. These functional models are internally tested to further improve product stability.
Mara-link is another key point, the technical research is completed early this June, which will be launched late this June.
In perspective of the operation, the global airdrop event schemed by the Amara North American business team was launched recently, and the time duration is three weeks with 30,000 MARA in the reward pool. During the event, North American BD Neal will be invited to several AMA events. Follow Amara twitter to view the event details.
When the internal test of Amara loan products is done, an internal event will be initiated. The Old Friend NFT holders of Acala have extra benefits, stay tuned.
Get the latest updates on Amara on its social media channels:
- Website: https://www.amara.finance
- Telegram: https://t.me/AmaraFinance
- Discord: https://discord.gg/6KHbFCuX
- Medium: https://amara-finance.medium.com
- Twitter: https://twitter.com/AmaraFinance
- White paper: https://github.com/AmaraFinance/Amara-White-Paper
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89000
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