Flurry Finance IDO to launch through CardStarter
CardStarter, the world’s premier incubator, launchpad, and insurance program for Cardano projects, will launch the IDO for Flurry Finance: a cross-chain yield farming aggregator designed to enhance the usability of DeFi products.
Flurry Finance aims to solve the problem of yield farming fragmentation by offering a cross-chain yield aggregator that pools and distributes assets to various liquidity pools. By pooling assets, users benefit from diversified product risk and overall lower yield farming fees.
The Flurry protocol features a novel rebasing mechanism which distributes generated interest to users in the form of rhoTokens (rhoUSDC, rhoUSDT, rhoBUSD), tokens backed by USDC, USDT, and BUSD stablecoins. While today, most yield aggregators are limited to products on a single blockchain, Flurry uses cross-chain interoperability mechanisms to capture the best risk- and fee-adjusted yield across various DeFi protocols. As the value is pegged 1:1 to the backing stablecoin, rhoToken behaves as a stablecoin and can be used as a medium of exchange while earning interest with no lock-up period.
Flurry Finance’s modus operandi of optimizing the user experience is its recipe to success, with a focus in making the platform so easy and simple to use that even users with no DeFi or technical knowledge can participate. Furthermore, the team will buy tokens from the market and place them back in the staking pool. This token buyback approach has the benefit of reducing circulating supply while encouraging users to hold their FLURRY tokens.
Through CardStarter, Flurry Finance will be connected with strategic media and marketing partners to ensure maximum network exposure. CardStarter will also help Flurry Finance access communities within the Cardano network with the prospect of establishing new partnerships. As a Cardano-bound project, Flurry Finance will be able to optimize scalability through the Ouroboros consensus mechanism and maximize security through the implementation of Plutus smart contracts.
“CardStarter is very proud, once again, to be a pioneer in the Cardano ecosystem bringing cutting edge innovation in decentralized finance to the industry. CardStarter is excited to launch this endeavor and would like to invite our community members to be a part of the project by participating in its upcoming IDO on our platform.” ~ Aatash Amir, CardStarter CEO
CardStarter is the first incubator, launchpad and insurance program for projects being built on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early supporters and a network of key partners.
CardStarter is also differentiated by its charge to protect its supporters. CARDS provides unbiased third-party audits of every project’s code and protects IDO participants with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Moonwhale Ventures, Genesis Shards, Plethori, Fractal, PARSIQ, Scryptic Tech and Longtail Financial. Once fully built, CardStarter will be an all-inclusive platform with a decentralized exchange to complement the current offerings. CardStarter also aims to be a nurturing force in the Cardano ecosystem, with hackathons and project development support being a major focus of the roadmap.
About Flurry Finance
FLURRY is a DeFi protocol offering cross-chain yield aggregation with rhoToken, which is pegged 1:1 to its underlying stablecoin. It automatically farms for yields across different DeFi protocols without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees. FLURRY protocol operates with a cross-chain feature which provides more options to farm for the best yield after cost across different chains.
With a team composed of graduates from Cornell University, Stanford University and Imperial College London, and pedigrees from JP Morgan, Barclays Capital, KBC Financial Products, Daiwa Capital Markets and Societe Generale, Flurry Finance is well-equipped to take the DeFi sector by storm.