Polaris Finance price 

POLAR

Polaris Finance is an algorithmic stable coin protocol pegged 1:1 to $NEAR on Aurora blockchain. Much like Basis Cash our protocol uses three tokens $POLAR, $SPOLAR and $PBOND to incentivize a stable 1:1 peg to $NEAR.

We love the idea behind Algo coins and we want to create one stable, profitable and secure for Aurora blockchain to continue running as the fast, secure, and cost-effective blockchain we all know and love.

$POLAR aims to become the primary utility token of the Aurora ecosystem, and the first step is its role in our planned launchpad. The selection, development, and deployment of the next generation of Aurora DeFi projects will be decided by those who hold $SPOLAR, $POLAR’s governance token.

$POLAR token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain $POLAR's peg to 1 $NEAR token in the long run. $POLAR actively pegs via the algorithm, it does not mean it will be valued at 1 $NEAR all times as it is not collaterized . $POLAR is not to be confused for a crypto or fiat-backed stablecoin.

We believe in cryptocurrencies, we believe in the concept of algorithmic stablecoins and we believe in a multi(cross)chain world. And as we announced, $POLAR is just the beginning and with the next steps we want to make Polaris Finance a Polaris ecosystem and become a leading liquidity provider on AURORA.