Bastion Protocol - Future of DeFi on NEAR?
Published: 2022-05-02 01:23:20


The NEAR protocol is just beginning to show its true potential and developers from throughout the industry are catching wind of this next generation layer 1 blockchain. With high performance, scalability and low transaction fees, DeFI protocols are competing for market share. 


![main page](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/gkxnljlbgnwoegyzuklo.png)


###What is Bastion?
Bastion is a lending and stableswap DeFi protocol deployed on Aurora, NEAR’s Ethereum Virtual Machine(EVM) compatible layer. With the aim of becoming the one stop liquidity hub of NEAR. For more information on Aurora [Read More](https://dev.to/sigma1/aurora-what-is-it-and-why-is-it-important-np1)

*I am not affiliated with Bastion Protocol in any way nor is this financial advice. I found the project to be interesting and want to share my thoughts.

**Bastion Protocol allows users to:**
Supply assets to earn interest
Put assets up for collateral 
Borrow assets
Leverage long
Short assets

Currently a large portion of the lending protocols on Aurora offer identical features. Bastion introduces several new products currently lacking in the Aurora ecosystem. These include:

**Isolated markets** - Bastions’ isolated markets are called Realms, each with their own supported assets and liquidity. In contrast to global cross-collateral markets that expose entire TVL to potential attack vectors.  [Read more](https://bastionprotocol.medium.com/introducing-realms-isolated-markets-and-leveraged-yield-farming-80bb88c61ac2)

![Realms](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/8y2bdt7raiuw0xzlk76i.png)

**Interest rate swaps** - Using their stableswap system Bastion allows users to seamlessly swap into higher yield positions between different Realms with like assets. [Read More](https://bastionprotocol.medium.com/interest-rate-swaps-fixed-rate-lending-and-inter-realm-yield-optimizers-c5ce9e0aa300)


**Boosters** - Increased rewards for borrowing certain assets.

**VeTokens** - Adoption of the Ve-model, incentivizing long-term commitment to the protocol by locking tokens for a certain period of time. Read more about VeTokens [Read More](https://newsletter.banklesshq.com/p/wtf-are-vetokens?s=r)


Within a few short weeks Bastion has achieved 1.5 billion TVL(total value locked) and is currently one of the top performing DeFi protocols on Aurora. As well as contributing for almost 50% of the entire Aurora TVL.

![Aurora RVL graph](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/cemqm8xy0ye6tb53ozy7.png) 
https://defillama.com/chain/Aurora

###The Team
Currently Bastion is a team of 5 with backgrounds including data scientist, MEV searcher and early employees at large Solana DeFi protocols. According to documents the team has successfully launched multiple 1 billion dollar marketcap projects listing on **Binance**, **Coinbase** and **FTX**.

###Tokenomics
BSTN is the ecosystem governance token and serves 2 primary purposes.

- To govern the development of the Bastion Protocol by allowing holders to vote on key protocol changes and operations.
- Align incentives to bootstrap borrow demand and provide initial deposit rate stability

**Token distribution**
Total supply : 5, 000, 000, 000
30% Liquidity Mining
30% Treasury
25% Team and Advisors(2-yr linear vest with 6-month cliff)
15% Investors(2-year linear vest with 9-month cliff)

**Current use cases for $BSTN:**

- Provide liquidity for BSTN/NEAR LP
- Stake BSTN in BSTN Kingdom
- Holders of longer than 1 month will receive an exclusive Diamond Hands Bastion NFT
- Over the next few weeks further utility for token holders include VeBSTN, rewards boosting, borrowing fee rebates and a borrow market for BSTN.

###Bastion Stableswap
Bastion stableswap offers low-slippage swaps on stabelcoins, cTokens, wrapped and staked assets on Aurora. Bastion aims to focus on cTokens(collateral tokens) By listing cTokens on the stableswap they aim to make cTokens the base asset of the Aurora ecosystem. Allowing users to make use of these assets providing both automatic deposit yield and LP yields.  Initial pool is cUSDC - cUSDT with more pools in the future. 

![stableswap interface](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/bgv9o8o9aa85e8r4lfkh.png)

READ More about their innovative approach to cTokens [Read More](https://bastionprotocol.medium.com/introducing-bastion-stableswap-7a150dea7492)

Read More about Bastion cTokens [Read More](https://app.bastionprotocol.com/swap/faq)

###How to participate

https://bastionprotocol.com/

**Desktop Guide** https://bastionprotocol.gitbook.io/official/using-bastion/desktop-guide

**Bridging to Aurora**  
[How to Bridge to Aurora](https://dev.to/sigma1/how-to-bridge-from-eth-to-aurora-using-rainbow-bridge-54bh)

[MultiChain Bridge](https://bastionprotocol.gitbook.io/official/using-bastion/bridging-to-aurora)

**Purchase Bastion Token(BSTN)**
Trisolaris - https://www.trisolaris.io/#/swap
Contract - https://aurorascan.dev/token/0x9f1F933C660a1DC856F0E0Fe058435879c5CCEf0

**Community**
Discord: https://discord.com/invite/bastionprotocol
Medium: https://bastionprotocol.medium.com/
Twitter: https://twitter.com/BastionProtocol


###Conclusion/outlook
When it comes to DeFi it pays to be early and innovative. The Aurora ecosystem on NEAR is in the early stages of what could potentially be a DeFi boom. Projects like Bastion are onboarding capital at a rapid pace. Catching the eyes of industry leaders with $10 million+ in VC funding from companies such as FTX Official, Three Arrows and Crypto.com. Bastion is aiming to be THE liquidity hub of NEAR by leveraging Auroras’ ecosystem and technology. In the next few weeks Bastion plans to ship several new features like new asset listings, more Realms and veTokenomics. Look for them to continue building and innovating in the space moving forward.

> “The ultimate vision for Bastion is to be the liquidity hub of NEAR, where no asset lies unproductive and composable cTokens form the base of the ecosystem.”


![bastion banner](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/4st403zu11sxqut4oscg.png)