Amaterasu Finance announces its launching on Aurora chain. The Amaterasu protocol aims to grow the TVL (total value locked) of Aurora by onboarding people from other chains and being community oriented. It will offer investors the opportunity to provide liquidity for various pairs such as ETH/IZA or AURORA/IZA and farm the governance token of the protocol $IZA (IZANAGI).
Aurora is a blockchain with a very well-developed infrastructure, solid fundamentals, scalable, cheap, and blazing fast. On top of that, it has a blossoming DeFi ecosystem with more and more protocols looking to bring value to Aurora. The Amaterasu team team believes in the long-term potential of the chain. The Aurora team has already managed to push out a lot of developments in a very short span of time. The high level of community engagement, as well as the transparency and regular updates from the core team made us extremely confident in our choice to build on this chain.
The Amaterasu protocol
The protocol will consist of multiple parts but the main component is the DEX. Starting out, the launch of the protocol will be fair (no private sales and no ICOs). Liquidity will be added for the main token pair ETH/IZA and a few pools will be opened up for investors to provide liquidity. The $IZA emissions will be on a downward slope (starting higher and lowering as the weeks go by) with the occasional increase in emissions to celebrate special events.
A key feature of the Amaterasu protocol is the auto-compounding vaults. But essentially, auto-compounding vaults compound your yields for you. On a chain like Ethereum, this would be more complicated because of high fees and low transaction speeds. But on Aurora, auto-compounding vaults would work quite neatly and would offer the users a “stake and forget” type of investment.
Community governance and focus
The Amaterasu team would like to have a close relationship with the community, therefore they want the protocol to be community focused. That means that all projects would have a chance to receive an incentivized pool, given that they fulfill the minimum criteria (in order to protect investors). The tokens $IZA and $xIZA (the token used to accrue DEX fees) will be able to be used in governance voting on future updates of the protocol. This opens up the possibility for the community to voice their opinions and decide what they want to see from the protocol.
Expanding the protocol
Since Aurora has a very extensive infrastructure present already on chain, they plan to expand the protocol in the future. Said expansion might include (but is not limited to) things like an NFT marketplace, burn vaults, bonds, etc. We don’t want $IZA to be limited to just farming. Naturally, developments take time, time will be needed to push them out and ensure they are safe to use and that they work as intended.
The Amaterasu team
The core team of the protocol has a bunch of talented and experienced people that are either managing other protocols or worked on other protocols. Most of the team is doxed and well-known reputable people in their respective communities. Almost everyone is coming from the Harmony blockchain and they have been friends for a long time. They collectively understood that the future of blockchain technology is cross-chain so they decided that they would like to onboard people from chains like Harmony onto Aurora and vice versa.
Liquidity needs to flow like water from one chain to the other, without any hiccups and with low barriers. This will open up a lot of new possibilities for the future of DeFi. Aurora was a logical choice for the Amaterasu team to build on for the aforementioned reasons.
Launching the protocol
As they previously said, the launch will be fair, with no VC strings attached and no ICOs. Everyone will get a chance to buy the token at launch and start providing liquidity. The details of the launch will be made clear (date, time, contract address) so please don’t buy anything that resembles the token unless the team gives you details on the official social medias.
Aurora is an Ethereum Virtual Machine created by the team at the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users.
Amaterasu Finance is a native DEX on the Aurora chain. The governance token of the protocol is IZANAGI (ticker: $IZA). The goal is to be the leading DEX on Aurora and attain a high TVL, ultimately growing the Aurora ecosystem as a whole. The DEX will be the starting point but the team wants to expand the protocol.
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