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Sirius Finance

FIRST STABLECOIN AMM INFRASTRUCTURE ON ASTAR NETWORK
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Finance
Blockchain
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Astar
Currency
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SRS
Publisher
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Astar Team
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What is Sirius Finance?
Sirius Finance is a cross-chain stablecoin AMM, attracting and locking tremendous value with low-slippage trading costs, attractive APY for LPs on Astar Network, allowing for more financial innovations & yield enhancements for Astar users.
Ultimately, it serves as a low-slippage swap protocol connecting Polkadot, EVM-compatible chains and other major layer1 chains, expanding use cases from stablecoins to other similar valuable tokens.

Sirius stable pool
The Sirius Finance stable pool consists of 4 tokens — DAI, USDC, USDT and BUSD. The distribution of tokens within the pool is not always equal, as traders trade against the pool, it adds and removes tokens in the pool, changing the amount of pool tokens and their weights.
To incentivize traders to balance the stable pool’s composition, Sirius Finance applies deposit bonus and withdrawal penalty as the pool tries to balance itself back into equal weights.

Sirius meta pool
Meta pools include pools which earn additional interest from decentralised lending protocols and pools list less liquid assets. Both enable LPers to earn extra rewards while preventing diluting existing pools.
To vote on the Sirius Finance, users need to vote lock their SRS and gain veSRS. By doing so, participants can earn a boost(up to x3) on their provided liquidity rewards and vote on pools related proposals including: Pool parameters: pool weight, amplification coefficient, etc. Adding or removing metapools; Total trading fee percentage; Preferred right for airdrop tokens.
And users who reach a certain voting power can also create new proposals. There is no minimum voting power required to vote. Users can lock their SRS for a minimum of a week and a maximum of three years.
Except buying SRS in the second market, joining IDO or gaining from the incentive program, there are three main ways for liquidity providers gain from 43% SRS of the total supply in Sirius Finance pool mechanism by staking LP tokens: Providing USDC, USDT, DAI or BUSD in the stable pool; Depositing LP tokens or other stablecoins in the metapools; Joining pools integrated with lending protocols.

Risks of using Sirius Finance
Providing liquidity to Sirius Finance is highly risky.Before using the protocol,We hight recommend reading the code and understanding the risks involved with being a Liquidity Provider(LP)and/or using the AMM to trade pegged value crypto assets. ​

Permanent loss of a peg
Sirius Finance smart contracts are currently under audit,the audit results will be made public. Please keep in mind that security audits don’t completely eliminate risks.Do not supply assets that you cannot afford to lose to Sirius Finance as a liquidity provider.
Information
Type
Automated Market Maker
Blockchain
Astar
Currency
SRS
Platform
Windows, macOS
Publisher
Astar Team
Version
V2
FAQ
Sirius Finance is the first stablecoin AMM infrastructure on Astar Network, easy for everyone to begin their journey on Polkadot.
To reduce constant selling pressure and protect $0RU investors, rewards from 4oUSD Farm will have a 28-day (Staring on April 28th) vesting period or up-front claim with a 50% penalty which will be burned.For example, If you stake 4oUSD to 4oUSD farm to earn $SRS and $ORU on May 1st, then you will be able to claim all the rewards on May 29th. But if during this 28-day lock-up period, you stake some more 4oUSD to 4oUSD, then the unlock date for all $ORU rewards will add another 28-day.The team has been working on adding another button to only claim the $SRS extra rewards. Thank you for your patience.
Your votes affect the allocations of SRS between farms, you can vote for any farm but you can only vote for one specific farm ONCE in a 10-day voting period(starting from your voting time on that specific farm), so please consider carefully before casting your votes.
A transaction may fail for different reasons, please check following:
Your RPC endpoint is unreachable or too slow to respond.
Slippage is too low for some imbalanced pools.
Astar Network is becoming heavy, if your transaction has been pending for a long time, try to speed up by increasing gas price.
Unlike Sirius Finance’s stable pools which only consist of stablecoins pegged to $1 where both impermanent loss and slippage can almost be neglected, the unstable crypto pool consists of unstable assets whose price changes all the time, hence traders tend to exercise extra cautiousness about the possible impermanent loss and slippage.To put it simply, based on the Sirius Finance AMM algorithm, the trading rate of a pair and token price mostly depends on the total value of both tokens(the amount of a token multiplied by the current unit price).
if a stable pool consists of 1000 A tokens and 2000 B tokens(both pegged to $1), the trading rate at this point is about 1A = 2B.The imbalance of a pool generates arbitrage opportunities where users can gain profits by swapping A tokens for more B tokens and selling B tokens in another exchange or over-the-counter trading. This stable pool will be balanced again with more A tokens in, and much more B tokens out.Therefore, ALL liquidity providers will take the loss because clearly there are fewer tokens and the LP amount is still the same:
If a stable pool only consists of 10 A tokens and 10 B tokens(both pegged to $1) and a user expects to swap 5 A tokens for 5 B tokens, he will receive less than 5 B tokens because the swapping result is far away from balance.Solutions: Sirius Finance offers attractive APR on farms to liquidity providers and traders will be less likely to act towards a more imbalanced situation in order to reduce or even avoid the slippage.
Restrict the way that liquidity can be added, for example making depositing in the combo the only available option; Increase the Amplification Parameter to maintain low-slippage trading in a wider range; Add “Risk Disclosure” that emphasizes the possible loss due to the nature of unstable cryptos and AMM mechanisms.
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