Starbank — Orcus Finance Partnership
We are excited to announce that we have partnered with Orcus Finance! You can see our Tweet here:
What is Orcus Finance?
Orcus Finance is a protocol on the Astar Network that is completely decentralized and autonomous, meaning they’re not subject to any regulation. Since they’re autonomous, it also means that it does not require any manual interaction. What they offer is the first Fractional-Algorithmic Stablecoin that is pegged to USD. However, they plan to expand to other stablecoins, and even other networks, soon!
What is Fractional-Algorithmic?
Put simply, fractional-algorithmic is the way $oUSD, the Orcus Finance stablecoin, reacts to market conditions. Below is an example of how to token acts:
“When $oUSD trades above the target price of $1, the protocol decreases the collateral ratio
When $oUSD trades under the target price of $1, the protocol increases the collateral ratio”
What are the benefits of partnership?
This partnership with Orcus Finance allows us to offer stable pools which include Orcus Finance’s fractional-algorithmic stablecoin. This will allow low slippage trades while also using a high quality stablecoin. We are excited for this partnership and are excited to be working together!