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- Astroport is ready to launch. An AMM implemented on the Terra blockchain with smart contracts.
- After successfully migrating $1.2 billion in liquidity to smart contracts, the platform is set to launch its swap and pooling functionalities.
- Another set of smart contracts have been developed by the platform, which will support the double incentives received by LPs.
Astroport is an AMM (Automated Market-Maker) on Terra, an open-source blockchain platform and a stablecoin that was launched to reduce the volatility that cryptocurrencies like Bitcoin add to the market. The Terra blockchain incorporates an AMM protocol that is implemented with smart contracts. Thus, Astroport is an AMM on the Terra blockchain.
As per the team behind Astroport, the ASTRO-UST liquidity pool is all set to be integrated with the smart contracts of AMM. The Astroport will let users choose from various types of the pool via a single AMM system, simultaneously leveraging the support for all types of Terra’s assets. Since $1.2 billion in liquidity has been successfully transferred from Terraswap, Terra’s decentralized exchange, to Astroport’s smart contracts, the platform is ready to launch the pooling and swap functionality.
ASTRO – The Governance Token
Like several DeFi protocols in the ecosystem, the Astroport also carries its own governance token, known as ASTRO. The power to vote on community issues that revolve around the protocol will be served to holders of ASTRO that stake their governance tokens in the ASTRO pool. Also, if the holder locks their ASTRO tokens for a time duration of up to 2 years, the holder’s powers will be raised. Locking of tokens will not only increase powers but will let users earn a share from trading fees and the boosted liquidity mining rewards.
ASTRO Generators – Smart Contracts
Distribution of ASTRO through liquidity mining to LPs will emit ASTRO’s on a predefined rate set by the Astral Assembly, the Astroport’s version of DAO. Depending on the pool, various governance tokens from Astroport and external communities of DeFi (Decentralized Finance) are received by LPs, for which the protocol developed smart contracts based on proxy, known as ASTRO Generators which will support the double set of incentives. A recent declaration by the protocol, ASTRO generators are set to launch in the upcoming weeks.
Supporting different pool types is one of the critical features of ASTRO, which lets AMM serve several token markets. The decision of selecting the number of tokens and the pool they would follow will be in the hands of the ones that stake ASTRO in the protocol, the members of the Astral Assembly. The opportunity to vote for pools that should get the largest amount of ASTRO tokens will be given to the members of the Astro Assembly every two weeks.
The Astral Assembly Launch
As per the ASTRO emissions schedule revealed with the announcement, the Astral Assembly won’t be launched with Astroport, and the rewards will be allocated to the pools. With ASTRO token currently trading at $1.56 (at the time of writing) after facing a downtrend of 10.6% in the past 24 hours, the launching might affect the prices to rise, or vice-versa. The details about the launch give an idea of what to expect yet ensure deep research before arriving at any investment decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
