ThunderCore, a leading blockchain platform, has recently formed an exciting partnership with Steer Protocol, a cutting-edge decentralized computing protocol. This strategic partnership marks a significant milestone in the world of DeFi, as ThunderCore and Steer Protocol join forces to revolutionize the way users interact with and leverage blockchain technology.
With a shared vision of empowering individuals and businesses to access the full potential of DeFi, this partnership promises to unlock new possibilities and drive innovation in the ever-evolving landscape of digital finance. In this article, we delve into the details of this ground-breaking partnership and explore the profound impact it is poised to make.
What is Steer Protocol?
Steer Protocol is an innovative decentralized compute protocol that aims to revolutionize the way users interact with blockchain technology and combines the power of decentralized finance (DeFi) with the flexibility of smart contracts, providing users with an efficient and secure ecosystem for building web3 backends & executing a wide range of financial transactions.
The platform offers a multitude of features and functionalities designed to cater to the diverse needs of DeFi enthusiasts. From liquidity management, Swap strategies, Dollar cost average strategies & General smart contract automation to decentralized lending and borrowing, Steer Protocol provides a comprehensive suite of financial services that empower users to maximize their returns while maintaining control over their assets.
Furthermore, Steer Protocol’s unique architecture allows for flexible and efficient execution of smart contracts, enabling high-speed transactions with significantly reduced fees compared to traditional blockchain networks. This approach not only enhances the user experience but also lays the groundwork for the development of complex DeFi solutions.
What does the Partnership Entail?
The partnership between ThunderCore and Steer Protocol brings forth a range of exciting opportunities for the DeFi community. One of the key highlights is ThunderCore’s utilization of Steer Protocol’s Most Advanced Automated Multi-Position Liquidity Management Product for active liquidity management which enhances the trading and earning options available to traders and liquidity providers. By leveraging Steer Protocol’s multi-position ALM product, ThunderCore aims to optimize liquidity and create a more efficient ecosystem for traders and investors alike.
Additionally, liquidity providers (LPs) will have the chance to add liquidity in the Steer Protocol strategic V3 AMM pool on SushiSwap, a popular decentralized exchange platform. This collaboration allows LPs to maximize the potential of their funds and earn higher fees with attractive annual percentage rate (APR) & boosted rewards. The strategic V3 AMM pool by Steer Protocol empowers liquidity providers to proactively manage their liquidity with automated strategies. These strategies enable the pool to achieve improved concentration and depth of liquidity, resulting in enhanced trading experiences for users. Traders can enjoy better prices and reduced slippage, ensuring that LPs’ liquidity consistently generates fees.
Steer Protocol goes above and beyond by providing users with unparalleled flexibility and control over their liquidity within v3 pools. With Steer Protocol SDK that offers a range of tools and resources to streamline development, users & protocols have the option to create personalized strategic pools tailored to their specific needs, or they can reuse and remix existing pools on new pools with Steer Protocol no-code solution as well. This empowers liquidity providers to offer a diverse range of strategic pool options for LPs to choose from. Furthermore, creators of strategic pools have the opportunity to earn 5% performance fees. Utilizing Steer Protocol’s user-friendly platform, the process of creating strategic pools has been streamlined and made exceptionally accessible for all users.
Overall, the partnership between ThunderCore and Steer Protocol opens up new horizons for the DeFi community. By combining ThunderCore’s blockchain capabilities with Steer Protocol’s advanced liquidity management solutions, users can expect better use of their liquidity leading to better earnings. This collaboration represents a significant step forward in empowering individuals to navigate the DeFi landscape with confidence and efficiency.
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Looking Ahead
Following this partnership, there are several exciting developments to look forward to in the ThunderCore and Steer Protocol ecosystem:
- Improved Liquidity Pool Management: With SushiSwap acting as a DEX aggregator, ThunderCore gains the ability to manage liquidity pools more efficiently. This enhancement will benefit the entire ecosystem by providing better liquidity options for traders and investors. Users can expect improved trading experiences, reduced slippage, and increased liquidity depth, resulting in a more seamless and efficient trading environment.
- Expanded Integration with Steer Utilities: ThunderCore is committed to expanding its integration with various utilities offered by Steer Protocol. This partnership aims to enhance the DeFi ecosystem by incorporating additional features and functionalities into ThunderCore’s platform. By integrating with Steer Protocol, ThunderCore users can access a wider range of tools, services, and applications, enriching their overall DeFi experience.
- Exploration of Innovative Projects: ThunderCore remains dedicated to exploring and incorporating innovative projects into its ecosystem. This forward-thinking approach ensures that ThunderCore users will continue to benefit from the introduction of cutting-edge technologies and ground-breaking solutions. By embracing innovation, ThunderCore and Steer Protocol aim to create an environment that fosters growth, collaboration, and advancement within the DeFi space.
The partnership between ThunderCore and Steer Protocol sets the stage for a more efficient and comprehensive DeFi ecosystem. Users can anticipate enhanced liquidity management, expanded utility integration, and a continuous focus on innovation.
About Steer Protocol
Steer Protocol is an advanced decentralized computing protocol that aims to revolutionize the world of decentralized finance (DeFi). By leveraging ThunderCore’s blockchain technology, Steer Protocol provides users with a dynamic and adaptable platform for building and interacting with decentralized applications (dApps). The protocol prioritizes scalability, security, and usability, offering developers and users a seamless and robust DeFi experience.
About ThunderCore
ThunderCore is a powerful and ultra-fast Web3 ecosystem and layer-1 chain that delivers elite performance and cost-effective scalability for thousands of crypto projects. Its proof-of-stake (PoS) architecture and strong developer support provide a battle-tested home for the next generation of crypto builders to create in Web3, DeFi, NFTs, GameFi, and the metaverse with endless opportunities.
You can learn more about ThunderCore over on our Medium Blog.
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