The project AstridDAO being built on Astar has officially partnered with Microsoft, bringing huge implications for the ecosystem as a whole.
Microsoft is bringing their resources and technology to AstridDAO. Endorsing and coaching the project shows that the company are paying attention to Astar and the projects being built on the network.
AstridDAO is a decentralized money market protocol and multi-collateral stablecoin built on Astar and the Polkadot ecosystem, allowing users to borrow $BAI, a stablecoin hard-pegged to USD against risk assets at 0% interest and minimum collateral ratio.
This mechanism enables users to leverage the value in their risk assets, including $ASTR, $BTC, $ETH, and $DOT without selling them.
Microsoft has welcomed AstridDAO to the Microsoft for Startups program. This partnership accelerates business development and growth removing the traditional barriers involved in building a company.
Bringing AstridDAO access to technology, coaching and marketing which competitors and other companies do now have access to. Microsoft will be providing AstridDAO with up to $350,000 of benefits through Github Enterprise, Microsoft Teams and Azure credits.
Commenting on the partnership, the AstridDAO team said:
“We are super excited to join the Microsoft for Startups program!
With incredible resources sponsored by Microsoft, we will ensure AstridDAO can better serve the community and facilitate BAI to become the dominant native stablecoin for the whole Astar and Polkadot ecosystem.”