Resonate Announces Collaboration with GMX
We together envision applying Resonate to make the rights to future interest tradable on the GMX ecosystem’s yield-bearing assets.
Why GMX?
GMX is a spot and perpetual DEX that offers transparent on-chain leverage trading, with low swap fees and zero price impact. It operates within the Avalanche and Arbitrum L2 ecosystems, and has amassed over $420M in TVL at the time of writing. Trading is supported by a unique multi-asset pool, GLP, where liquidity providers earn fees from market making, swap fees and leverage trading.
To start off, a similarity between our protocols is that the GMX exchange is chain-agnostic, which we consider attractive. With L2’s prospering, decentralized derivatives are finally possible — and GMX is at the forefront of this massive undertaking.
GMX has shown its openness to the community to discuss the protocol’s future development and, meanwhile, shipped at a tremendous pace. We’re confident in the core contributors’ abilities to deliver and innovate, and look very fondly upon integrating GMX with Resonate to everyone’s benefit.
What’s to come?
GMX integration 🏁
More partnerships & integrations utilizing the GMX ecosystem! ⏳
Learn more about GMX
Website | Twitter | Telegram | Discord | Medium
Why Resonate?
Resonate splits apart the interest and principal components of a yield-bearing position. Those who hold tokens which may be deposited into yield-bearing systems can receive an instant, upfront payment on the present value of that future yield, in exchange for locking their tokens. An ideal solution for traders who want to receive guaranteed and consistent yield farming rewards for staking tokens or providing liquidity. For those who want to purchase the Yield Futures, or the rights to future yield, Resonate places them in a position where they can do so at a discount to the expected future value of the interest. For protocols wanting to reduce their burn rate, this discount can offer a better way to incentivize providing LPs.
So why is this useful?
There’s a number of good reasons. Let’s start from the perspective of a Purchaser, whose profile is most likely to fit that of a protocol treasury, DAO or enthusiastic long-term investor. These include:
- Align incentives: offer upfront incentives to tame mercenary capital and create positive feedback loops. Leverage Resonate to lock-in liquidity providers, creating benevolent cycles within your ecosystem, all while stabilizing levels of liquidity.
- Regenerate your treasury: pay upfront to secure long-term income. Utilize Resonate to replenish your native token, or perform a synthetic swap and diversify your holdings.
- Reduce your emissions: decrease your burn rate by paying out upfront. Incentivise lockups to offset your existing emissions schedule and reduce sell pressure.
- Leverage your stablecoin farming without liquidation risk: multiply the earning power of your stables by utilizing the leased capital of Issuers.
Now, let’s have a look at it from the perspective of an Issuer, whose profile is most likely to fit that of a retail trader/investor, an institution or a whale.
- Upfront, guaranteed payout: provide liquidity confidently, secure in the knowledge that you’ve already been rewarded.
- Guarantee your interest rate: receive the expected value of future cash flows upfront, ensuring that market conditions are no longer a consideration.
- Protect your portfolio: Take upfront payments as stablecoins to hedge against future market volatility.
- Power resilience to changing market conditions: powered by Revest FNFT technology, positions in Resonate remain liquid throughout lockup, allowing you to take liquidity as-needed on any NFT marketplace.
So, as you can see, there are a multitude of reasons to allow users to utilize each other’s principal investments to exchange their time and risk profile to suit their preference. Prior to Resonate, this was not possible.
How about security?
Resonate has been aggressively audited and scrutinized, subjected to BlockSec and Zellic audits, both pre- and post-launch bug-bounties, both whitehat access and next-gen fuzzing tech provided by the security research team PwnedNoMore, and continuous-integration post-launch. Your FNFT is the vault and key to your locked positions. Keep custody and control of your financial future, while earning yield.
Learn more about how we’re protecting your tokens in our docs.
About Resonate
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.