Today we want to introduce you to Amara Finance, the multi-chain asset lending protocol for the Polkadot ecosystem.
The most important features of Amara include fast and cheap transactions between chains, a special interest rate model that reduces the risk in the event of extreme market fluctuations, and the possibility of pledging NFTs. Amara wants to become the leading loan protocol of Polkadot. The project is built on Acala.The Amara team has extensive experience in the field of DeFi loans, such as ample project development and implementation capabilities. During the beta test phases, over 10,000 users supported their activities.
In May, as part of the first phase of financing, they managed to raise over a million dollars and are supported by institutions such as: Digital Renaissance Foundation, DFG, Chain Capital, PreAngel, Dragon Roark, Waterdrip Capital, BTX Capital, AngelONE. The AmaraLink bridge they created received a grant from Polygon and took 3rd place at the Wanxiang Blockchain Hackathon 2021 for projects based on Moonbeam.