Amara Latest Progress from April to June

Summer is coming! Amara is developing on fire with the heating of summer air. In the past months, Amara has accomplished remarkable achievements in both deployment testnet and community governance on a significant stage.

Chapter 1 Technology Development

As we mentioned before, We have accomplished the deployment of the AmaraLend2.0 testnet on Harmony. We have held the AmaraLend Beta on Harmony Testnet Campaign, which not only got us over 1000 feedback within 3 days but also ended with 6800+ addresses participating. The tech team improved the product based on these suggestions.

Amara launched a staking function on its website in April. Users can gain more MARA by staking MARA. To date, the amount of staked MARA has exceeded 20 million, a significant increase from 15 million in April.

Amara Staking is open until September. For more information, please refer to https://twitter.com/AmaraFinance/status/1507341530272518147.

Chapter 2 Ecological operation

Amara is thrilled to announce the new strategic partnership with Clover. AmaraLend be deployed on Clover, which means it will expand more native asset usage scenarios for CLV ecosystem and improve the capital utilization of massive LPs and bring DeFi to a new border!

Amara starts a proposal in Snapshot about the incentive plan of the testnet, the main idea is shared below:

To attract more users to help to test and improve our product, we’d like to prepare a reward pool of 500,000 MARA for this campaign.

Clicke here to learn more about the proposal.

We have opened multiple channels to collect the feedback of the testnet (twitter、discord、Dao). People actively participated in the campaign and we have received massive valuable suggestions. In order to protect the interests of most early testers, the campaign ended earlier than planned. We will definitely keep providing more beneficial activities for Amara users.

It’s the first time that Amara uses DAO to create and review tasks. DAO,Decentralized autonomous organization. Community members could directly join the community managment via DAO, constributing to project devloping, website desiging, marketing and other activities. There are two tasks released via DAO in this testnet campaign. Both video making and article writting tasks received more positive submissions than we expected. Therefore, we will deeply integrate DAO with the community in future marketing.

You are more than welcome to help and push the development of Amara with your professional skills via DAO. To get the latest tasks, please join Amara DAO here.

According to the ambassador plan conditions in the past months, we have announced in ambassador groups to suspend the Ambassador program, the recovery time is undetermined. As it said above, the tasks and rewards will be published on DAO during the suspension. We have received and reviewed all the tasks in past months and will send rewards accordingly. Thanks for the continuous support from Amara ambassadors. We believe that Amara and community members will absolutely hit it off through DAO.

About Amara Finance

Amara Finance is a cross-chain financial aggregator for NextDeFi aiming to be the DeFi collaboration center to bridge Polkadot and the off-DOT world. Amara’s core products include: AmaraLend, a multi-chain deployed lending protocol focusing on long-tail assets; AmaraLink, a multisig cross-chain bridge connecting Polkadot and off-DOT world; AmaraPay, an aggregated payment gateway protocol responding swiftly across the world.

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Amara Finance

Focus on efficient circulation and none-gap value transfer among Polkadot ecological assets.