Sirius (SIRS)

Sirius ($SIRS) is a liquidity pair-based token on the Tezos blockchain that automatically allows users to participate in Liquidity Baking. Liquidity Baking is a decentralized liquidity pool between tez and tzBTC that is incentivized at the protocol level. Previously, users had to go through multiple steps to participate in the liquidity baking pool, but with Sirius, it is as simple as purchasing the token.

The Sirius token ($SIRS) unlocks the ability to participate in Liquidity Baking on Tezos. Liquidity Baking relies on automated market making, where an algorithm provides price quotes to users based on predefined rules. Anyone can become a liquidity provider by purchasing the $SIRS token or acquiring an equal amount of two tokens and adding them to the liquidity pool.

By purchasing Sirius tokens, users become stakeholders in the Tezos liquidity baking pool, which means they are entitled to rewards in the form of tez, the native token of the Tezos blockchain. Users can now acquire Sirius tokens on Bittrex, a prominent cryptocurrency exchange. Tezos is known for its energy efficiency, pioneering Proof of Stake mechanism, and on-chain governance system that enables upgrades without contentious forks. It is important to note that there is a risk of impermanent loss associated with the tzBTC / tez pair.