- Summary:
- AstriDAO, a decentralized money market, has announced a partnership with tech giant, Microsoft. We tell you how it will impact the platform.
Decentralized money market, AstridDAO, which operates on the Astar Network, has announced a partnership with Microsoft. As a result of this collaboration, AstridDAO will be participating in the Microsoft for Startups program. The initiative removes many of the typical obstacles to starting a firm, allowing businesses to grow faster. Microsoft support will include Github Enterprise, Microsoft Teams, and Azure credits of up to $350,000 available to AstridDAO.
Additional benefits include access to cutting-edge technology, coaching, and marketing that AstridDAO currently cannot access. All of this will likely help the $BAI token become the dominant native stablecoin in the Astar and Polkadot ecosystems. Also, this will in turn help AstridDAO better serve the community. The $BAI cryptocurrency is a fully backed stablecoin that is tethered to the US Dollar.
The AstriDAO operation mechanism
Using the AstridDAO platform, users can borrow the $BAI stablecoin against risk assets with no interest and a minimum collateral ratio. Users can utilize this approach to increase the value of their risk assets, such as $ASTR, $BTC, $ETH, and $DOT. The best part is that they do not have to sell any of those assets outright. The Polkadot ecosystem connects to Ethereum, Cosmos, and the entire main layer 1 blockchains through the use of the industry-leading smart contract hub, Astar Network, which AstriDAO runs on.
With Microsoft’s resources and cutting-edge technology, AstridDAO will be able to grow. These high-profile companies are showing their appreciation for Astar by endorsing and mentoring the project. Among Polkadot’s top Parachains in terms of Total Value Locked, Astar Network serves as the Smart Contract Hub for WASM and EVM virtual machine. Astar provides virtual machine support for dApps running on WASM and EVM. In addition to this, it provides Web3 developers with the best technological solutions and financial incentives through its Build2Earn and Astar Incubation Programs, allowing them to construct on top of a blockchain that is secure, scalable, and interoperable.