Resonate Announces Collaboration with Plutus
Thrilled to announce our newest collaboration with PlutusDAO this afternoon!
What is Plutus
Plutus is an Arbitrum-native governance aggregator aiming to maximize users’ liquidity and rewards while simultaneously aggregating governance behind the PLS token. Plutus’ objective is to become the de-facto Layer 2 governance blackhole for projects with veTokens. Plutus has quickly gained traction with its governance product with Dopex and JonesDAO, owning over 50% of all Dopex governance power. In addition, Plutus is now expanding its product line to include Vaults with GLP as the premier product.
Plutus has recently released a plvGLP vault as its flagship product for their Vaults product line. In short, the purpose is to give GLP stakers maximum yield with maximum convenience while creating a base-layer DeFi-lego for other protocols to build on top of.
Why Plutus?
With their latest release ‘Plutus Vaults’, which is built on top of existing, successful protocols with the sole purpose of enhancing yield and simplifying the process for end users — the doors for integration with Resonate were opened. The first Plutus Vault was built on GLP in collaboration with GMX.
Let’s take a look at plvGLP in more detail. 👇
- GLP can be deposited to mint plvGLP at any time.
- Exiting plvGLP is subject to a 2% fee (there’s no liquidity pool).
- esGMX rewards are locked under Plutus and automatically compounded. This results in constantly increased yields for all pool participants.
- Plutus will take a 10% fee on GLP yield.
- Stake plvGLP to earn PLS emissions, ensuring that yields are always higher than the native GLP pool.
The gist of it is simple — by pooling users’ GLP into one large pool, automatically compounding frequently becomes a viable option from a cost and especially convenience perspective.
So, where does Resonate fit into the equation and more importantly — why? More on that below.
Learn more about Plutus DAO
Website | Twitter | Discord | Docs
What’s to come?
Plutus integration 🏁
More partnerships & integrations utilizing Plutus! ⏳
Why Resonate?
Resonate is the flagship of the Revest ecosystem. As a video game is to an engine, Resonate is to Revest — both solving some of the greatest challenges in crypto today, liquidity incentivization and treasury management, and giving the Revest Protocol the go-to-market needed to bring about widespread adoption.
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 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 use 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.
What’s next?
We have been working tirelessly for a long time and are very excited to finally unveil our creation. We strongly believe that it will act as an extremely beneficial value add to the crypto ecosystem, and look forward to working with protocols and their communities to implement Yield Futures and take a step towards a more effective and prosperous ecosystem.
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.