Starfish Finance stated that decentralized finance (DeFi) and nonfungible tokens (NFTs) are on the brink of converging. The platform has been designed to ride the wave of what is expected to happen in the future.
The community-driven platform is making a bold projection for the future: the worlds of DeFi and NFTs will eventually fuse and create a new and brighter star.
Starfish Finance insists that its infrastructure has been well-designed in expectation of this happening – and it is powered by Astar Network, one of Polkadot’s top parachains.
Notably, the Starfish protocols are based on Balancer V2. Users have the freedom to develop liquidity pools of up to eight crypto assets on top of a full stack Defi product suite. Beyond its decentralized finance capabilities, users are allowed to stake nonfungible tokens (NFTs) on their native chain via Celer Network’s latest IM framework.
The framework is an inter-chain messaging mechanism that lets users enjoy cross-chain NFT collateralized lending and borrowing on Starfish Finance. The Starfish Finance developers have insisted that the community’s security is their main priority, and the protocol has already passed CertiK’s audit.
Starfish’s leadership is currently entering into partnerships with famous and popular NFT projects – all with a vision to offer liquidity to the collectors who would otherwise have to offload their beloved possessions.
This scenario will become majorly relevant as the market matures in the future, where the NFT assets will become the project’s and users’ digital commodities. Several big centralized exchange space leaders have already invested in Starfish spaceships, notably Huobi. The team expects more listing announcements will come in the future as the project develops.
Coming as part of Starfish’s cultural movement to invade Web3, the project has developed a Web3 personality test. They say that it is a fun way to determine what type of investor you are.
The Starfish Finance Way
From the start, Starfish Finance has been meticulously positioning itself as a one-stop journey that provides multi-token stable and weighted swaps – and in the process embraces a multi-chain future. The Starfish leaders say that the brand stands for community, convenience, and collaboration. These are the protocol’s three core values. It seems to be preparing for the forthcoming future where NFT-Fi will become an indispensable component in Web3.
Starfish Finance began this year with conception, fundraising, creating strategic partnerships, developing an inclusive community, and a testnet launch. For the rest of this year, the team will roll out their decentralized finance (DeFi) suite and expect that their NFT collateralized lending and borrowing will launch in the roadmap.
The eventual formation of Starfish DAO – dubbed “The Aquarium” – after the mainnet launch will sow the desired seeds of Starfish’s motto: “Building while vibing.”
Interestingly, the community council will be tasked with nurturing various parts of the project, from product to art, and from technology to marketing. Community members will play an integral role in onboarding and whitelisting new NFT projects as eligible collateral for Starfish’s NFT-Fi, in addition to managing various events and activities to grow the multi-chain Web3 space and economy.
