Trisolaris is a decentralized exchange on the NEAR blockchain which runs on the Aurora Engine. It delivers high speed trading to users for less than a fraction of the cost of Ethereum, or any Ethereum Layer 2.
What is Trisolaris
Trisolaris is a one-stop trading platform for the NEAR blockchain. It is the first DEX on Aurora and enables seamless trading experience similar to Ethereum’s for a fraction of the cost.
It takes advantage of the great underlying architecture provided by the Aurora engine, and claims to only focus on DeFi.
DeFi is still a small and young space, yet to be fully capitalized by institutions and retail investors. Trisolaris aims to solve problems such as capital efficiency, proper liquidity incentives and derivatives.
Trisolaris’ core benefits
When you talk about the NEAR blockchain, you talk about it’s speed and innovation. Partnered with the Aurora engine, there is a huge opportunity for users to avoid the high fees and long waiting time. Its core benefits include:
- Trading at only a fraction of the cost of Ethereum
- Fees are paid in ETH
- Vast rewards by the NEAR community
Tokenomics
According to DeFi Llama, the native token $TRI currently has a US$384.91 million total value locked and is the top DEX running on the Aurora engine, an EVM compatible blockchain running in the NEAR ecosystem.
On Trisolaris, users would be able to participate in staking $TRI or participating in various farms the network offers.
Currently, staking your $TRI token would give you roughly a 70% APR return.
That’s not even the best part — Trisolaris has dual-reward pools on top of the usual liquidity pools to earn rewards for your favourite coins. This includes $NEAR, $ETH, $LUNA, stablecoin $UST and more.
Trisolaris enabled LUNA double rewards for atUST<>LUNA and atUST<>WNEAR farms on Trisolaris DEX.
The pools will receive double rewards for the next three months and 2770 LUNA (approximately $230,000 at today’s prices) will be distributed evenly across both pools.
Trisolaris’ partnerships
Flux Protocol
Flux allows any smart contract to connect with crowdsourced, API-based, and Price-Feed data. It brings this data on-chain using a sophisticated validation and dispute mechanism that relies on economics principles to keep validators honest.
Flux is backed by world-class investors such as Distributed Global, Coinbase Ventures, Reciprocal Ventures, Coinfund, Maven 11, Flow Ventures, among others.
Now, you would be able to stake your NEAR-FLX LP tokens in the Trisolaris farm page and earn rewards accordingly.
$MECHA rewards
Mecha Tracker aims to be the most complete, easy, and friendly one-stop shop in the Aurora Network.
This pool will be incentivized by $MECHA tokens, and emissions will be distributed from this pool for a period of 6months. Users who stake their LP tokens will receive $MECHA as rewards.
You would now be able to stake your NEAR-MECHA LP tokens in the TriSolaris farm page and earn rewards accordingly.
$SOLACE rewards
Solace protocol offers a mechanism to protect users from inherent risks in DeFi products associated with smart contract exploits, hacks, and other technical failures.
The platform allows people to purchase a coverage policy or generate returns by underwriting the risk.
You would now be able to stake your NEAR-SOLACE LP tokens in the TriSolaris farm page and earn rewards accordingly.
Trisolaris and Metapool to enable NEAR and TRI farms
Partnership with the Metapool team to enable new farms for stNEAR and xTRI on Trisolaris. Metapool is a liquid staking platform built on Near, Meta Pool allows NEAR token holders to stake and earn rewards, providing an easy way to unstake with no lockup.
You can head over to Trisolaris and stake your LP tokens in the farm page starting now. Rewards for these pairs will turn on at approximately 9PM UTC on 12 February, 2022.
Closing thoughts
Trisolaris saw its high of US$500 million total value locked, which only shows the growing popularity of NEAR’s ecosystem. If you are bullish on NEAR Protocol, the lighting fast speeds with close to zero gas fees of TriSolaris will ride the same wave.
As the core of DeFi in NEAR’s Ecosystem, the continual partnership the platform is building also contributes to its bullish case in 2022.
Featured Image Credit: Chain Debrief
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Also Read: Reasons Why I Am Bullish On NEAR Protocol For 2022
