Gem Hunter! We've brought you Gem again. We know you're already loaded to the brim with our Gems, sorry... we'll be hauling more Gems. And more. :)
Btw, before we start - this review is based on the AMA and responses from our followers! Thanks to them for that. And to the AMA too :)
The Duet protocol is a multi-chain synthetic asset protocol that enables the on/off switch between traditional real assets and fast-growing crypto assets.
Duet allows traders to derive returns from real assets in decentralized finance.
"Cash" is the most liquid asset, so the returns on holding cash are extremely low or even harmful. "Real estate" is in the middle, with average returns and risk. "Venture capital fund stocks" have a long lock-up period and weak liquidity but higher expected returns.
Traditional assets are 'Flat assets' with high liquidity but low returns. The opposite is virtual assets, such as NFTs. Uh, moving on.
Dueti's next step is to peg "flat assets" and "sharp assets" to " neutral assets" such as dUSD,dEUR.
The Duet Protocol accepts a wide range of assets with over $1.3 trillion as collateral. The Duet Protocol also accepts LP tokens and credit deposit tokens as collateral to enhance users' capital efficiency.
1) Stablecoin dAsset
The protocol locks the assets deposited by users, scans the oracle quote and issues a corresponding "dAsset" (synthetic asset) equal to the amount of the pledged asset.
For example, if you want to get Tesla stocks:
Deposit $1500 worth of ETH (or any other supported asset) and $1500 worth of DUET, lock them into a smart contract as collateral.
The protocol generates a synthetic dTSLA asset.
2) Interest Rate Yield Module
A portion of the user's collateral is deposited in time-tested third-party yield protocols such as Pancakeswap at the stage, and Curve or AAVE in the future to improve capital efficiency.
3) Elimination of collateral
The liquidation module is similar to MakerDAO.
Liquidators(third-party or we ourselves) come to pay back the dUSD and take away the collateral in a discount(so he can make some money, which is the reason why it can attract others to join). The process would happen within 1 single tx.
Initially, Duet will build pools on popular AMMs such as Uniswap, Sushiswap and Pancake Swap. However, in the future, it might develop its AMM.
- Your assets in the Duet system will adapt in a way that keeps you bullish and prevents you from being bearish - protocol burning algorithms and a unique financial scheme will make each asset more flexible for investors
- All types of gold! You can invest in real gold, oil (black gold) and, of course, digital gold (Bitcoin)
- You may create a more secure method of investing your private funds - you may create an LP token, e.g. USDT/USDC, and not be afraid of what may happen with Tether.
- Rewards - the protocol will have its bDUET(bonded DUET) as rewards and given the possibilities of farming, synthetic asset creation, and NFT, it will always be in circulation
- Login threshold: no special knowledge or other technical background required - just an internet connection and a dApp Duet
The project's tokenomics is designed for 10 years of development until the coins are fully unlocked, which eliminates the pressure on the price. Also integrated token burning model for long term deflation
- Audited byPeckshield and BlockSec
In short, it's Gem! DYOR it here