Thu, 4/07/2024 – 17:47
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Contents
- Astrovault DEX forges partnerships with Nibiru Chain
- Unlocking new opportunities for LST segment
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Astrovault, a novel on-chain decentralized cryptocurrency exchange with an automated market-making engine, shares the details of its collaboration with Nibiru, a high-performance programmable layer 1. The two will work together on cutting-edge concepts for the DeFi era.
Astrovault DEX forges partnerships with Nibiru Chain
Astrovault, a pioneering on-chain DEX that is able to earn profits seamlessly from liquidity, has entered into a long-term strategic collaboration with Nibiriu Chain, an L1 smart contract ecosystem for decentralized applications. Owners of Nibiru on-chain accounts will therefore be able to benefit from participation in Astrovault activities.
Namely, Nibiru community members will be allowed to generate yield using their various features, enhancing user experiences with seamless transaction processes and introducing incentives specifically tailored to liquidity providers (LPs).
Typically, while AMMs help to simplify trading and enhance accessibility, they introduce often overlooked complexities. Unlike traditional exchanges that earn revenue through trading fees charged on transactions, AMMs primarily earn income from liquidity provider fees, which are shared among providers based on their contribution to the pool.
However, this insufficient and unpredictable revenue model makes sustaining a profitable operation challenging. Ethan Wood, COO and cofounder of Astrovault, stresses that the collaboration with Nibiru is set to change the status quo in DeFi:
Our goal for Astrovault is to focus on sustainable and meaningful scaling, and we believe partnering with Nibiriu is a strong step in that direction.
He also added that both teams are confident that the new collaboration will mutually strengthen the capabilities to meet the evolving needs of this growing market.
Unlocking new opportunities for LST segment
Astrovault addresses critical aspects of liquidity monetization within DeFi by employing a distinctive approach with Liquid Staking Derivatives, complemented by liquidity pool mechanisms. By monetizing its liquidity directly, Astrovault facilitates transactions at optimal rates, decreasing dependence on external liquidity sources and ensuring efficient platform operations.
Compared to traditional models, Astrovault has decentralized economic control, access to liquidity and expanded trading opportunities. Its approach enhances market efficiency and sets a progressive benchmark within the growing crypto landscape, reducing resilience on external liquidity sources.
The partnership with Nibiru allows users to earn across networks through a unified application, bringing together the strengths of both projects.
