Sirius ($SIRS) is a token that lets you automatically participate in Liquidity Baking, a decentralized liquidity pool between tez and tzBTC that is incentivized at the protocol level on the Tezos blockchain. Before Sirius, users needed to conduct a multi-step transaction to deposit tez and tzBTC into the liquidity baking pool. Now, earning liquidity baking rewards is as simple as purchasing Sirius ($SIRS).
Liquidity Pool Token
Unlocking Liquidity Baking
The Sirius token ($SIRS) is the easiest way to participate in Liquidity Baking on Tezos. Liquidity Baking is a decentralized solution relying on automated market making (AMM), where an algorithm provides price quotes to the end user according to a predefined rule set. Anyone can join as a liquidity provider by buying the $SIRS token, or by acquiring an equal amount of two tokens (in terms of value) and adding them to the liquidity pool.
Sirius tokens represent a portion of the stake in the Tezos liquidity baking pool, so when you purchase Sirius, you are buying a portion of the pool. With Sirius and liquidity baking, you are rewarded with tez, the native token of the Tezos blockchain. Sirius can now be purchased on Bittrex, a leading crypto exchange. Tezos is a pioneering Proof of Stake blockchain that is energy efficient and boasts a proven on-chain governance mechanism that allows it to upgrade without contentious forks.
Note: there is a risk of impermanent loss resulting from the tzBTC / tez pair.