Amara Finance FAQ v2.0 EN
Update on Oct. 10th
Chapter 1 Amara Finance
1. About Amara Finance
Amara is a top multi-chain asset lending protocol within Polkadot ecosystem, with core products AmaraLend, a multi-chain deployment lending protocol, and AmaraLink, an assets cross-chain protocol. Now, AmaraLendhas deployed on the testnet of Moonbeam（Moonbase Alpha V8), and is expected to deploy on Moonriver.
2. Amara Finance Vision
Amara is striving to be the most popular lending hub within Polkadot ecosystem in the short term, and introduce possibly more assets into Polkadot.
3. Funding and Financing
Amara Finance has completed its seed round funding of over 1 million in May, 2021, Investment institutions include Digital Renaissance Foundation, DFG, Chain Capital, PreAngel, Dragon Roark, Waterdrip Capital, BTX Capital, AngelONE and etc.
4. Amara Finance Team
The Amara team is an international team, well-developed and dynamic, with about 10 core members, it gathers together talents from China and the United States and consists of a number of senior blockchain developers and cryptography experts.
5. Other Products of Amara Finance
Besides AmaraLend and AmaraLink, Amara is going to launch an international payment tool AmaraPay, stay tuned~
6.Will Amara participate in the Polkadot parachain slot auction?
Amara Finance is a DeFi project constructed on the parachain and public chains, there is no need for Amara to auction Polkadot slots.
7.What’s the Relationship of Amara with Acala?
Amara thinks highly of Acala, which is an excellent project within Polkadot. Amara plans to deploy our products on it in due course.
8. Amara Finance global communities and users
Amara Finance is a global project based in West Europe. The communities are active in Southeast Asia, Europe, North America, Russia, etc. Besides English communities, we have established Turkish, Africa, Persian, Russian communities, etc.
Chapter 2 AmaraLend
1. About AmaraLend
AmaraLend is a top multi-chain asset lending protocol within Polkadot ecosystem, which is a core product of Amara Finance. AmaraLend Beta has deployed on Moonbeam testnet Moonbeam Alpha and Acala testnet Mandala TC, it plans to officially deploy on Moonriver.
2. Will AmaraLend be multi-chain deployed?
AmaraLend will be multi-chain deployed and it has plans to deploy on all the top parachains within Polkadot ecosystem. It will be deployed on other popular public chains in due time, but Polkadot will go first.
3. Will AmaraLend be audited?
AmaraLend v1 will be audited before official launch. We are keeping in close touch with audit institutions and proactively preparing for the official release.
4. AmaraLend Stake
AmaraLend Beta version contains only lending service for now in order to test the stability of borrowing and lending. Amaralend Stake will be released with AmaraLend v1 version after the Beta campaign perfectly ends.
5. When will AmaraLend NFT online?
Amaralend NFT will be released after the launch of AmaraLend v1 version. Community members do not need to mint Amara NFTs by burning their assets, it can be earned by the completion of daily and/or weekly tasks, including sign in, depositing and borrowing operations. Users will get points for corresponding operations and claim NFT according to the points level.
6. Can AmaraLend NFT be circulated?
AmaraLend NFT can be traded and circulated in the market, but we recommend users hold them for the purpose of the following campaigns which are exclusive for NFT holders.
7. AmaraLend Interest Rate Model
Interest Rate Model will go public before the official launch of AmaraLend v1 in the form of product document.
8. AmaraLend lending market
AmaraLend lending market consists of Mainstream market and Innovation market. Mainstream market contains stable coins and basic coins like BTC, ETH, it also has mainstream assets ranked in the top 20 in market value. As for the innovation market, it embraces some emerging and potential second-tier blue chip assets with a certain community base.
9. How is AmaraLend NFT?
It is in preparation. Now the UI has been completed and it’s going step into the phase of frontend and backend development.
10. AmaraLend has been listed on Moonbase official document:
Chapter 3 AmaraLink
1. About AmaraLink
AmaraLink is a data cross-chain bridge of multisignature threshold technology, striving to become an crypto data conversion hub connecting Polkadot and other public chains. At the current stage, we are developing a bridge to connect Moonriver and Polygon/Ethereum.We hope to conduct a demonstration in October to further improve it. It will be officially open to all users after the audit.
2. About AmaraLink Grant
AmaraLink has received a Grant from Polygon.
3. AmaraLink deployment
AmaraLink has been deployed on Moonbeam testnet, connecting Moonbase Alpha and Polygon testnet, now it is under test.
4. AmaraLink Beta document:
5. AmaraLink’s features&security:
AmaraLink adopts multisignature threshold technology with following features:
- First, in terms of mechanism, at the beginning of the design of Maralink, we restricted the data in the cross-chain bridge contract. To be specific, there is a limit on the flow of cross-chain data on a daily basis. It is designed to guarantee the security of data to the greatest degree on mechanism level, so the data locked in the entire cross-chain bridge protocol have a limited quantity, thus reducing the risk of hacker attacks.
- Second, in terms of technology, we adopted multi-signature technology to verify each flow of data on the premise of guaranteeing cross-chain experience, so the security level of the cross-chain bridge is greatly improved.
- Third, MaraLink supports up to 200 verifiers for nomination, adding more verifiers is an effective way to avoid the situation that a single administrator malconduct. At the same time, through the DRAND consensus random algorithm, the main verifier of each transaction is selected to collect the signatures of other verifiers, which improves the verification efficiency. Moreover, in order to improve efficiency and ensure security in the meantime, the signatures collected by the main verifier will be verified again through back-sign, thus avoiding the situation of the main verifier’s malconduct.
Chapter 4 Community Operations
1.Telegram international communities:
2. Amara Finance Social Medias:
You can read more about AmaraLend in the following links:
You can contact the team via the following communication channels:
Chapter 5 Campaigns
1. When is Airdrop for AmaraLend Beta test campaign?
The winner list will be announced within 3 weeks after the end of the test campaign, the claim channel will be open soon.
2. Will there be any other campaigns?
Yes, more campaigns are on the way.
3.How to claim rewards for AmaraLend Beta test campaign? Do I need to pay a transaction fee?
The tutorials of airdrop claim will be released soon, you don’t need to pay for claiming.
Chapter 6 MARA & Others
MARA is the governance token of AmaraLend with a total issuance of 150 million.
IDO is in preparation. Please follow our official channel and get latest news about IDO.
3. What’s IDO Price?
The price of IDO will be announced along with the news of IDO.
4. Which DEX will you choose?
The Amara team has been in close touch with several excellent DEXs. MARA will be listed according to the need. Stay tuned.
5.Will there be DEX?
Yes, we are preparing for Sushi, Zenlink, etc.
6.MARA use cases:
Pls refer to Whitepaper Chapter 4.4.4
About Amara Finance
Amara is a top lending protocol within the Polkadot ecosystem. It highlights a multi-chain assets lending protocol AmaraLend and an asset cross-chain protocol AmaraLink. AmaraLend Beta has been deployed on Moonbase Alpha testnet and it plans to be officially deployed on the Moonriver network. Amara is striving to be the most popular lending market in the short term and introduce possibly more assets into the Polkadot ecosystem.