Star Finance, a new DeFi platform, announced the release of its main product, an auto-staking, and auto-compounding protocol
The project aims to reward $STAR token holders with a sustainable, fixed, compound interest through its SFAP protocol.
The Star Finance Auto-Staking Protocol (SFAP) has compounding features that should make staking more efficient. Furthermore, it claims to offer the highest Fixed APY in the market at 412,000% for the first 12 months. $STAR holders may also enjoy these benefits:
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The protocol stores 4% of all trading fees in the Star Finance Insurance Fund (SFIF). This growing amount ensures that the protocol always has funds for rewards. Also, it helps maintain price stability and reduce downside risk.
Users can buy and hold $STAR tokens to automatically receive rewards in their wallets. Moreover, they don’t have to actively stake new tokens all the time. Instead, they receive a compound interest yield automatically.
The Star Finance Protocol pays each $STAR holder every 15 minutes and 96 times per day. According to the Star Finance whitepaper, this is the “fastest auto-compounding protocol in crypto.”
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Star Finance uses a burning mechanism, “The Star Fire,” to automatically reduce the circulating supply. The Star Fire burns 2% of all $STAR market sales. This way, it prevents it from becoming unmanageable and getting out of hand in the long run.
SFAP uses a complex algorithm of factors to maintain its price and rebase rewards. The Star Finance Insurance Fund (SFIF) is part of this set of factors. Its role is to pay a consistent 0.02355% rebase rate to all $STAR token holders every 15 minutes.
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