SiO2 Finance is a borrowing and lending hub designed to offer service to the Polkadot and Astar community with easy-to-use single-click features, transparent governance, and one of the best user experiences. It is a multi-VM lending hub that supports both WASM and EVM. SiO2 has developed notable features that include a one-click flash loan and a short position that provides the best experience to its users.
Here are some of the unique features offered by SiO2 Finance:-
- Borrowing/Lending – SiO2 Finance allows its users to use various assets in the form of collateral and borrow different assets from the platform.
- Depositing – Users can deposit several assets on SiO2 and earn substantial passive income from their interests.
- veStaking – The platform incentivizes long-term coin holders more than short-term $SIO2 coin holders.
- One-click flash loan – This feature allows users to utilize the platform’s flash loan to move their position across protocols in seconds (position migration) and arbitrages without coding.
- One-click short position – This is another unique feature offered by SiO2 that allows users to short any asset with just a single click.
- Multi-VM support – WASM and EVM are supported in a single front end.
The SiO2 Finance team aims to develop several One-Click solutions and offer the most beginner-friendly lending platform, welcoming all the community members to provide feedback and improvement proposals. The SiO2 Finance is developed by passionate developers who have substantially contributed to AstridDAO, Astar’s multi-collateral stablecoin for Polkadot. The developers have great experience in developing and growing smart contracts and promoting the community.
Here is the roadmap of SiO2 Finance for the year 2022:-
June 2022
- 3rd-Party Security Audit
- Protocol Development
- Launch of Testnet on Shibuya
Q3 2022
- Launch and Public Sale of the token
- Launch of Mainnet with veStaking
- Launch of One-click Short Position
Q4 2022
- Addition of more position migrations and one-click flash loan support for arbitrages
- Launch of Multi-VM
- Buyback of Automated SIO2
- And many more!!!
Tokenomics
SiO2 Finance’s entire protocol revenue in the treasury will be utilized for SiO2 token buyback from the open market. This buyback will be managed with the multi-signature account most transparently. However, in the long run, automated buybacks will be operated using smart contracts.
Currently, the total supply of SiO2 tokens is 100,000,000.
Astar is a multi-VM smart contract lending hub on the Polkadot platform that realizes more interoperable operations in the future. Because of this, SiO2 Finance believes there is a great need for a multi-VM lending protocol to carry on with its momentum in the Astar ecosystem. Hence, many passionate contributors and members of the community of AstridDAO have come up with the notion of developing a more user-friendly and transparent lending protocol to provide better services to the Polkadot and Astar communities along with additional utilities to the $BAI tokens.
Gift Airdrop on Miner Josh – Miner Josh will be launching a giveaway of 10,000 $SiO2 on 3rd July, at 8 am.
(https://gleam.io/fhFbN/-sio2-finance-10000-sio2-giveaway-). Interested users can check their Twitter and help Miner Josh spread the information across the community and earn $SIO2 rewards!
SiO2 Finance is a multi-VM lending and borrowing hub on Astar for Polkadot. The team aims to become an excellent lending product with an above-par user experience, transparent governance, and easy-to-use single-click features.
