Introduction
Australis is a decentralized non-custodial lending service on Aurora. Aurora is a smart contract on the NEAR Protocol. Users can participate as depositors or borrowers: the former adds liquidity and earn a passive income, latter is able to borrow from an overcollateralized liquidity protocol. All resources are accessible here. Australis is completely open source, meaning anyone can interact with a user interface client, API or directly with the smart contracts on the Aurora network. At Australis, we’re working to build easy-to-use dev tools to enable everyone to build any third-party service or Dapps on our platform. Finally, the roadmap will be announced publicly soon.
From the available list of assets, you can deposit your preferred ones to use as collateral on the app, whatever amount you like. After depositing, you will earn passive income based on the market borrowing demand. By depositing an asset you’re allowed to borrow a different asset by using your deposit as collateral. Any interest you earn by depositing funds helps offset the interest rate you accumulate by borrowing. Interacting with Australis requires transactions and subsequently transaction fees for Aurora Network usage, calculated by a mix of network status and transaction complexity. It’s worth stressing the fact that Aurora’s fees are calculated and paid in ETH and it’s considerably lower than other networks such as Ethereum itself.
Your funds are allocated in a smart contract. The code of the smart contract is public and open source. The funds could be withdrawn on-demand or exported as a token (astToken) version of your lender position. astToken just like any other token could be moved and traded on the Aurora network.
Last modified 4mo ago