Introduction of vASTR as an Initial Onboarded Asset on Starlay
@SeiyaChida (Starlay Chan Initiative)
The launch of vASTR on Starlay Finance is aimed at enhancing our DeFi offerings by integrating liquid staking with increased APR for our users. This initiative allows ASTR holders to participate in staking while utilizing Starlay’s unique leverage lending functions for optimal asset utilization. Adding vASTR is part of our strategy to innovate in the DeFi space, responding to community needs, and broadening cross-chain functionalities within the Astar EVM environment.
vASTR is a derivative asset based on ASTR, the native token of the Astar network, developed by Bifrost Finance. It is a liquid staking solution that enables ASTR holders to engage in staking and earn rewards without immobilizing their assets. This means vASTR holders can use their tokens in various DeFi activities across the Astar ecosystem, all the while accruing staking yields.
|U Optimal Rate
We are committed to reliability and are considering implementing a price oracle provided by DIA. Additionally, we will establish a backup system using CoinGecko data on Starlay’s end to ensure continuous and accurate pricing in case of primary oracle issues.
vASTR fair price = ASTR price * (Total locked ASTR / Total vASTR issued). This rate is crucial for many operations in the system and will be automatically executed under the protocol with high confidence and reliability.
Methodology here: Pricing methodology - DIA Documentation
Bifrost’s protocols, including staking liquidity and vtokens, have been audited by Certik and Slowmist.
We will put the proposal to a vote via Snapshot in 3 days
Snapshot Voting: Jan 8th, 09:00 UTC - Jan 11th, 09:00 UTC.
YES - Approve the proposal
NO - Reject the proposal