AstridDAO Enters Microsoft Startup Program for Better Business

The ‘Big Tech’ firm Microsoft has recently extended support to AstridDAO. The decentralized money market will be enrolled in the Microsoft for Startups program. This emerging project hopes to leverage the expertise and resources of this tech giant to accelerate its market influence and speed in DeFi.

AstridDAO operates like a money market protocol built on Astar and Polkadot networks. This self-proclaimed ‘Decentralized Reserve Bank’ hopes to bring optimal conditions for investors to borrow against their risk asset holdings.

The project comes with a native multi-collateral stablecoin by the ticker symbol BAI. The stablecoin is hard-pegged to the USD and is traded against risk assets at 0% interest. The intuitive mechanism helps investors influence the value of risk assets like BTC, ETH, DOT, and ASTR. 

The BAI stablecoins are essentially different from others found in the market. AstridDAO lists five key aspects of the token that distinguish it from other stablecoins.

• Overcollateralization – The value of collateralized assets on AstridDAO will always exceed the value of outstanding BAI tokens.
• Capital Efficiency – The stablecoin could offer more liquidity and leverage exposure for your tokens with higher capital efficiency.
• Increased APY – The money market protocol has developed an optimization mechanism for APY with other DeFi projects on Polkadot and Astar.
• XCM Bridge – The XCM bridge support is expected to open the project to interoperate with the entire Polkadot ecosystem.
• DAO-based Governance – AstridDAO can adjust and recalibrate its parameters, collaterals, and proposals based on community voting.

The collaboration with Microsoft will help the project keep up with the innovative pace of DeFi in recent times. As the first step, this collaboration will help AstridDAO eliminate traditional barriers involving marketing, finance, and technology for wider adoption of the money market and the BAI stablecoin.

The expertise, knowledge, and resources from Microsoft will also help with optimizing the market speed and increasing the market influence. The financial benefits of this collaboration go up to $350,000, and the benefits will be distributed through Github Enterprises and Microsoft Teams. It also includes Azure credits as high as $150,000 for four years.

The support from one of the most influential tech firms will add to the face value of AstridDAO in the years to come. The official report from the project stated that this support would accelerate the growth of the BAI stable coin and allow it to serve the community in a much better way.

However, Microsoft is not the first successful collaboration by AstridDAO. The decentralized money market already has ties with renowned firms like PeckShield, Global Founders Capital, DIA, Digital Finance Group, NFR Ventures, Digital Strategies, Certik, Astar Incubation Program, and several others. One cannot deny that the Microsoft collaboration might be the biggest deal the project has ever signed.