Very pleased to announce our newest partnership with the wonderful community at Maia DAO!
What are we doing together?
Maia has committed to creating a stETH-ETH LP pool on Resonate.
Maia has committed to an initial deployment of $50,000 USDC. Maia will offer a 3% yield in the form of an upfront bribe to stETH-ETH liquidity providers, in return for locking their liquidity for a term of 12 months. This offering is projected to catalyze a TVL increase of $1.67 million.
This means that if you were to LP $100 worth for 1 year; you would now have the option to lock your LPs for the term within an FNFT through Resonate. This would result in an immediate buyout of 3 USDC paid to your wallet — funded by Maia DAO. You would retain the rights to your stETH-ETH LP principal, locked within your own unique FNFT, while Maia would gain ownership of your future yield through a separate interest bearing FNFT.
Within these FNFTs, the pending interest can be claimed at any time (assuming there is yield to be claimed), either individually or batched (claim all FNFTs interest accrued at once). It is important to note that both of the FNFT’s remain liquid (unlike the underlying locked tokens) and can be sold on most NFT marketplaces.
So, where will the yield come from?
Upon committing to the stETH-ETH pool, Resonate will route these stETH-ETH LPs into Yearn’s yvCurve-stETH Pool, who will then farm them in Convex/Curve.
By integrating with this program through Resonate, Maia is forecasted to gain between $15,000 and $68,000 in stETH-ETH LPs, from their initial 50,000 USDC deployment.
There are a number of benefits that can be seen from this undertaking. Because Maia will be offering USDC upfront and gaining returns in stETH-ETH LPs; Maia is essentially performing a synthetic swap. Through this synthetic swap, Maia will diversify their treasury while growing it simultaneously. Maia is forcasted to make a return of between 30% and 136.7% in stETH-ETH LPs. Additionally, since the yield Maia is buying rights to is in stETH-ETH LPs, Maia is able to acquire ETH at a discounted rate of between 23.1% and 57.7%.
What does Maia DAO do?
Maia is more commonly known as the yield powerhouse of Metis, a prominent Ethereum L2. Maia aims to be a one stop shop financial hub for a wide range of financial instruments.
At a high level, Maia consists of its protocol managed treasury, protocol owned liquidity (POL), bond mechanism (minting), and dividend distribution from its treasury revenue in the form native tokens. With LP bonds, the protocol is able to accumulate liquidity to ensure the system stability. The DAO currently operates under a consolidated decision making process, utilizing community voting proposals powered via snapshots.
Their most recent release; Hermes, is an improved fork of Andre Cronje’s renowned Solidly. Hermes is a platform that contains Uniswap’s features, as well as Curve Finance-style pools, with a mixture of Olympus DAO’s game theory applied to Curve’s tokenomics. Hermes Protocol presents low cost, near 0 slippage trades on uncorrelated or tightly correlated assets. The protocol incentivizes fees instead of liquidity, where liquidity providers (LPs) are given incentives in the form of Hermes.
To learn more about MaiaDAO
Resonate is a Yield Futures Protocol developed by Revest Finance and built on top of Revest’s Financial NFT (FNFT) technology. Using Resonate, we’re able to separate the principal and interest components of a position by issuing two FNFTs; one containing the principal and the other containing the rights to future interest on that principal. Resonate facilitates the commerce of the rights to future interest by matching issuers (who want to sell their interest rights for a one-time upfront payment), and purchasers (who want to buy the rights to future interest for a one-time upfront payment).
About Revest Finance
The Revest Protocol offers a revolutionary new use of NFTs as financial tools through the Financial Non-Fungible Token (FNFT). Individual and enterprise-level users can deposit any ERC-20 or ERC-721 into Revest’s interactive FNFTs and set custom unlocking conditions (time, value, or contract-based). Revest allows the tokenization of all non-fungible financial positions with non-fungible tokens. This simple turn-key solution offers elegant applications ranging from token vesting to cutting-edge implications for derivative and borrowing/lending platforms. Revest’s flagship product, Resonate, is underpinned, fundamentally, by this innovative technology.