What Is Bastion Protocol?(BSTN)
Bastion Protocol is a Lending and Stableswap protocol built on Aurora, NEAR’s EVM-compatible layer. The project innovates with novel features such as: isolated markets, interest rate swaps, increased receipt token utility, veTokens, gauges, and boosters. Building on Aurora enables Bastion to create an autonomous interest-rate engine with superior capital efficiency, low slippage swaps, fast transactions, ultra-low fees, precise liquidations, and harness the underlying UX benefits of NEAR.
Bastion is a decentralized lending and borrowing protocol which algorithmically sets interest rates based on supply and demand. The protocol is based on Compound and is built on Aurora, NEAR’s EVM-compatible layer.
Important Points Table Of Bastion Protocol Coin
| Basic | Points |
|---|---|
| Coin Name | Bastion Protocol Coin |
| Short Name | BSTN |
| Circulating Supply | 650,000,000.00 BSTN |
| Explorer | Click Here To View |
| Documentation | View Document |
| Website | Click Here To Visit |
How to Buy the Continental & Trade On Exchange?
BSTN Price Live Data
The live Bastion Protocol price today is $0.040463 USD with a 24-hour trading volume of $1,579,686 USD. They update BSTN to USD price in real-time. This is down 8.18% in the last 24 hours. The current CoinMarketCap ranking is #3087, with a live market cap of not available. The circulating supply is not available and a max. supply of 5,000,000,000 BSTN coins.
If you would like to know where to buy Bastion Protocol at the current rate, the top cryptocurrency exchange for trading in Bastion Protocol stock is currently Trisolaris. You can find others listed on crypto exchanges page.
Will you add more markets to Bastion?
Yes, soon. In order to list a token, it must have millions in liquidity. Bastion is a pooled lending protocol, meaning risk is shared and any single ‘bad apple’ could result in the entire protocol being drained. Thus, they are extremely selective on the assets that they list.
How Bastion Works Learn how Bastion works:
- 1.Supply and Borrow APY
- 2.Liquidations
- 3.Oracles
Desktop Guide
Setup
- 1.Connect your wallet to Aurora Mainnet. Bastion supports Metamask Wallet. (more coming soon)
- 2.Get some ETH for gas on Aurora. Aurora provides a free faucet for ETH dust to get you started on your journey!
- 3.Pick a token on the Dashboard you are interested in. Ensure that you have some of these tokens in your wallet.
Supplying Assets
- 1.Enter the desired amount to deposit and click “Approve” (if required). Confirm the transaction in your wallet.
- 2.Then click “Supply”. Confirm the transaction in your wallet.
- 3.To use the asset as collateral for borrowing later, turn the “Use as Collateral” button to green.
How do I claim my interest?
Once the transaction is confirmed, the deposit is successfully registered and it starts earning interest automatically. You will receive collateral tokens (cTokens) in your wallet as a representation of your supplied asset into the protocol.
For example, cNEAR, cETH, cUSDC. The cTokens automatically gain value over time, relative to the underlying token, as you accrue interest. This means that, upon withdrawal, your cToken will be convertible to an increased amount of its original asset, even while the number of cTokens in the wallet remains the same. Annual Percentage Yields (APY) are algorithmically adjusted based on supply and demand.
What are cTokens?
Collateral Tokens (cTokens) are like LP tokens, they are essentially the receipt you receive when you deposit tokens into Bastion. cTokens are used to claim back underlying tokens and accrue interest over time.
cTokens accumulate interest through their exchange rate — over time, each cToken becomes convertible into an increasing amount of the underlying asset, even while the number of cTokens in your wallet stays the same.
Interest Rate Model
Bastion Protocol Interest rates are determined from utilisation rate, which is the percentage of total borrowed asset against the total deposited asset in a particular market. Interest rates increase as utilization rates increase. This self-equilibrating mechanism encourages people to deposit more assets to maintain protocol solvency.
BSTN Token
The Bastion Token (BSTN) is Bastion Protocol’s governance token. BSTN tokens are used as incentives to bootstrap borrow demand and provide initial deposit rate stability.