How can financial NFTs be used in DeFi???
In Featured by @blockbytescom ep. 1, @crypto_klay welcomes @RobAnon94, cofounder & CEO of @RevestFinance to discuss the protocols latest feature: #Resonate 🦇 🔊
Read our notes below to learn more👇
In Featured by @blockbytescom ep. 1, @crypto_klay welcomes @RobAnon94, cofounder & CEO of @RevestFinance to discuss the protocols latest feature: #Resonate 🦇 🔊
Read our notes below to learn more👇
https://twitter.com/_/status/1578083402775166976
What is @RevestFinance?
•$RVST builds FNFTs (financial NFTs).
•Nonfungible financial positions have to be represented with a wallet address, therefore you can’t sell the rights to the debt itself. 2/
•$RVST builds FNFTs (financial NFTs).
•Nonfungible financial positions have to be represented with a wallet address, therefore you can’t sell the rights to the debt itself. 2/
•Instead of using a wallet address, you can use an NFT to represent ownership of the complex position.
•You can embed a full dApp inside the NFT. 3/
•You can embed a full dApp inside the NFT. 3/
What Is #Resonate?
•Uses Revest FNFT’s functionality, however, the core functionality is new.
•It allows receiving payment on the future rights to your yield.
•Users can get an upfront payment in exchange for selling off the rights to a yield-bearing position. 4/
•Uses Revest FNFT’s functionality, however, the core functionality is new.
•It allows receiving payment on the future rights to your yield.
•Users can get an upfront payment in exchange for selling off the rights to a yield-bearing position. 4/
•Users lose some upside but get a guaranteed fixed payment.
•Users can choose discount & lockup period of the yield in the FNFT. 5/
•Users can choose discount & lockup period of the yield in the FNFT. 5/
Use Case
•You can lock tokens in a yield farm with the expectation to get more tokens.
•To eliminate yield rate risk you might want to opt for safety, therefore, an option to get paid now is feasible.
•Purchasers of these FNFTs are getting a discount. 6/
•You can lock tokens in a yield farm with the expectation to get more tokens.
•To eliminate yield rate risk you might want to opt for safety, therefore, an option to get paid now is feasible.
•Purchasers of these FNFTs are getting a discount. 6/
•EX: a purchaser of the #Resonate FNFT with 30 tokens can buy the rights to the interest generated by 100 tokens. 7/
Risks
1. Smart contract risk.
2. Opportunity cost.
3. Interest rate risk.
•Protocol has been audited by 2 separate firms & each firm has performed follow-up audit.
•Bug bounty program is available. 8/
1. Smart contract risk.
2. Opportunity cost.
3. Interest rate risk.
•Protocol has been audited by 2 separate firms & each firm has performed follow-up audit.
•Bug bounty program is available. 8/
Fixed Return Lock
•A purchaser is subjected to interest rate risk.
•Some people have elected to use a fixed return lock rather than a fixed term lock.
•This means some of that risk is transferred from the purchaser to the issuer. 9/
•A purchaser is subjected to interest rate risk.
•Some people have elected to use a fixed return lock rather than a fixed term lock.
•This means some of that risk is transferred from the purchaser to the issuer. 9/
Advantages for Partner Protocols
1. Emission reduction, because the protocol can become the purchaser & they can pay out tokens to themselves.
2. Emission regeneration.
3. Stablecoin boosting.
4. Treasury diversification via synthetic swap. 10/
1. Emission reduction, because the protocol can become the purchaser & they can pay out tokens to themselves.
2. Emission regeneration.
3. Stablecoin boosting.
4. Treasury diversification via synthetic swap. 10/
What Networks Will You Launch On?
1. $ETH mainnet.
2. $MATIC because many people are using it.
3. $FTM because the team loves the ecosystem.
4. $OP a& @arbitrum because they like the people there. 11/
1. $ETH mainnet.
2. $MATIC because many people are using it.
3. $FTM because the team loves the ecosystem.
4. $OP a& @arbitrum because they like the people there. 11/
@iearnfinance Collab
•Wants #Resonate to be exclusively ERC26 & ERC46 based.
•#Resonate has launched the first production Yearn V2 ERC46 / ERC26 adapters.
•Yearn V1 & Yearn V2 contracts are the single most common form of yield farming. 12/
•Wants #Resonate to be exclusively ERC26 & ERC46 based.
•#Resonate has launched the first production Yearn V2 ERC46 / ERC26 adapters.
•Yearn V1 & Yearn V2 contracts are the single most common form of yield farming. 12/
•Every single system that generates yield has one standard now. 13/
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