Aurigami is a DeFi protocol with some great rates. In fact, they even have double-digit rates on some stablecoins. In this article, you can find out more about Aurigami.
It’s a lending protocol where investors can get leverage through borrowing. Rates to borrow are a fraction of what they would usually pay to traditional lending institutions. Near Protocol’s EVM, Aurora, has its own app enabling users to easily lend and borrow. And that app is the first and only money market protocol, Aurigami. It enables users to easily earn interest on their digital assets.
DeFi on Near Protocol’s Aurora EVM
Aurigami uses Aurora. The app is a decentralized, noncustodial liquidity protocol on the NEAR Protocol. And Near’s blockchain has a reputation for high throughput and scalability. Also, the protocol enables users to lend, borrow, and earn interest on their digital assets with ease. Depositors give liquidity to the protocol in order to earn a passive income. Then others can borrow in an over-collateralized method. Aurigami users will be able to lend and borrow their cryptocurrency at advantageous rates. Users may simply deposit assets that support the protocol to generate rates ranging from 8% to 12%. In fact, the protocol support assets such as ETH, Wrapped BTC, and stablecoins such as USDC and USDT. And there are more on the way as Aurigami grows into a trustworthy Aurora protocol.
SOURCE: DeFi Edge Twitter Account
It’s not often that so many Tier 1 crypto VCs get together to support a new protocol. Dragonfly Capital and Polychain Capital co-led the successful seed round.
So other VCs and Angels involved in the funding are:
- Mechanism Capital
- Amber Group
- Jump Crypto
- Coinbase Ventures
- Alameda Research
- QCP Capital
- DeFi Capital
- Folius Ventures
- D1 Ventures
- Genblock Capital
- Alex Shevchenko, CEO of Aurora
- Julian Koh, CEO of Ribbon
- Bobby Ong and TM Lee, co-founders of CoinGecko
- Matthew Tan, CEO of Etherscan
- Alex Svanevik, CEO of Nansen
With so many famous names supporting Aurigami, it’s just a matter of time until it becomes Aurora’s primary money market.
PLY is Aurigami’s native governance token. A massive 40% of the total PLY supply is set aside for liquidity mining with new payments weekly. This is a reward to the early investor that assisted in the protocol’s development. There will be a total supply of 10 billion PLY tokens released over the next few years.
SOURCE: ByBit Learn
According to the product roadmap, it will develop into:
- a full-stack DeFi ecosystem in 2022
- its own liquidity pools
- an innovation zone for early-stage startups
- isolated liquidity mechanisms
- and set loan rates.
In addition, Aurigami intends to list TerraUSD, a hot stablecoin from the Terra (LUNA) ecosystem.
Aurigami wants to be Aurora’s core protocol, and this is only the beginning. It will be Aurora’s one-stop-shop, complete with a package of services that will attract users into the ecosystem. The Papermill is an upcoming feature that’s getting people excited. It combines game theory and economic modeling into a single system. Participants in the Papermill are rewarded for HODLing. Participants in this patience game are rewarded based on how long they HODL. The more $PLY they can claim, the longer they HODL.
Furthermore, self-repaying loans will be available in the future, with users able to deploy yield-bearing assets as collateral. To boost capital efficiency, undercollateralized lending and fast loans will be available.
How to participate in Aurigami (PLY) token sale on Kucoin?
So if you like what you’ve heard so far and want to buy the coin, then here’s how.
To take part in the token sale, your KuCoin account must satisfy the following requirements:
- Complete KYC2 (Advanced Verification) before May 5, 2022, at 00:00:00. If you do not pass KYC2, you will not be able to participate in the token sale subscription.
- Your location must be among supported countries
- Sign the Purchase Agreement
- After completing the above procedures, please return to the Spotlight page and click the ‘Participate Now’ button.
Timeline for the Spotlight Token Sale:
- KuCoin will start the Spotlight Token Sale and open the subscription for PLY at 12:00:00 on April 29, 2022 (UTC).
- KuCoin will end this round of token sale registrations at 00:00:00 on May 5, 2022 (UTC), counting the shares of all successfully registered participants.
- On May 5, 2022 (UTC), from 08:00:00 to 09:00:00, KuCoin will deduct the correct amount of KCS from qualifying users’ Trading Accounts and distribute the corresponding amount of PLY. Please ensure that your Trading Account has at least 20 KCS on May 5, 2022. If the deduction is successful, you will see the PLY in your Main Account immediately; otherwise, you lose your ability to purchase in the Spotlight.
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