Amara Latest Progress from June to July

Amara Finance
2 min readJul 14, 2022

Amara focuses more on the research and development of products due to the current market. In the past month, Amara has improved and updated the products in many ways.

Technology Development

AmaraLand was launched on CLV

At the end of June, AmaraLend completed the deployment on CLV mainnet, which is the first step for the official launch of Amara products. AmaraLend is fully functional when launched and provides deposit and lend services for assets as USDC, BNB and WCLV, and it will adopt more assets in the future. Amara now is discussing with CLV about the airdrop events, stay tuned.

Improved liquidation mechanism

In the past months, the crypto world suffered a lot, including the collapse of some top projects. The DeFi world faced massive liquidations, so an efficient liquidation mechanism is important to protect users’ assets. Amara technical team has improved the liquidation mechanism of AmaraLend, realizing the single and multi token liquidation which have passed the internal test. It will be put into use in the officially launched AmaraLend.

Fixed farm contract

We have gotten unbelievable feedback from the test campaign in May, together with many constructive suggestions. Based on it, Amara technical team has fixed the bugs accordingly, especially the codes about the LP autocompound module.

Accomplished the deployment of AmaraLink

AmaraLink, another product in the Amara ecosystem, has accomplished the deployment on public chains like BSC, CLV and Moonriver. As the cross-chain bridge, the development of AmaraLink meets the cross-chain trend in the crypto world and breaks down the barriers between chains. Users can achieve cross-chain transfer of certain assets easily.

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.

Follow Us

Website:https://www.amara.link/
Discord:
https://discord.com/invite/rhkyBmmCBf
Telegram:
https://t.me/AmaraFinance
Twitter:
https://twitter.com/AmaraFinance
Medium:
https://amara-finance.medium.com
E-mail:
amarafoundation@amara.finance

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Amara Finance

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