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.

Why does Polkadot need its own native stableswap AMM?

Polkadot has up to 100 parachain slots and once XCM is fully implemented and activated
on parachains, there will be the need for native DApps that don’t rely on other
ecosystems, hence the need for a native stableswap AMM, such as Sirius, which will
eliminate bribe costs that most projects need to bear for setting up an appealing pool on
Curve Finance.

Low slippage: Assets are priced according to a pricing formula instead of an order
book. The formula used by Sirius Finance is specifically designed to facilitate
swaps that happen in a roughly similar range. For example, we know that 1 USDT
should equal 1 USDC, which should equal roughly 1 BUSD, and so on. However,
if you would like to convert 100 million dollars of USDT to USDC, then convert
it to BUSD, some slippage is going to occur. Sirius Finance’s formula is designed
to minimize this slippage as much as possible. And this leads to extremely low
slippage for even large amounts of tradings. In fact, the spread on Sirius Finance can
meaningfully compete with some of the centralized exchanges and OTC desks with the
best liquidity.

Why Sirius Finance?

○ Decentralization: Sirius users participate in the Sirius protocol in a
decentralized way via our vetoken model. Users can vote for their interests
in terms of various parameters by vote-locking SRS.○ Deep liquidity and high yields: basic APY, APY boost and APY enhancement

■ Basic APY: Every user that participates in the protocol, will be able to
gain SRS via liquidity farming and so on

■ APY boost: liquidity providers can stake SRS and gain veSRS, which
further allows them to share trading fees or lending pool profits from
third-party lending protocols

■ APY enhancements: liquidity providers can earn and share extra token
rewards as Sirius works with other projects and attracts more users to
provide liquidity

○ Exchange hub on Polkadot: vision to build the future exchange hub on Polkadot
and so far we have designed and built four major types of asset pools accordingly,
including base pool, meta pool, legal fiat-pegged currency pools as well as
tokenized derivatives

Features

• Swap stablecoins with low-slippage, minimum impermanent loss, and negligible transaction fees
• Connect Astar and Polkadot native protocols with growing stablecoins adoption to address volatility
• Cross between EVM-compatible chains and Polkadot ecosystem conveniently 
• Additional yield farming and arbitrage opportunities for liquidity providers and traders

Backed by the best

Backed by its very own Astar network as well as the other parachain slot winner Acala. Other notable investors AU21 and Rok Capital

Achievements

• The first stablecoin AMM ecosystem on ASTAR network making it easy for everyone to begin their journey on Polkadot
• SF has locked over 4.4 million of assets in its ecosystem 

Future

• SF aims to be cross chain by Q4 and add more stablecoins in Q2 2023

About Sirius Finance

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