Resonate Announces Deployment Partnership with CrowdSwap
Very pleased to announce our newest partnership with our friends at CrowdSwap, who will be deploying a Resonate pool following launch!
What are we doing together?
Crowdswap has committed to creating four USDT/CROWD LP pools on Resonate, followed by an initial deployment of 1,500,000 CROWD (~$145,000) split evenly amongst these four pools.
Crowdswap will offer:
- 10% yield in the form of an upfront bribe to USDT/CROWD liquidity providers, in return for locking their liquidity for a term of 1 month.
- 20% yield in the form of an upfront bribe to USDT/CROWD liquidity providers, in return for locking their liquidity for a term of 2 months.
- 25% yield in the form of an upfront bribe to USDT/CROWD liquidity providers, in return for locking their liquidity for a term of 3 months.
- 35% yield in the form of an upfront bribe to USDT/CROWD liquidity providers, in return for locking their liquidity for a term of 4 months.
This offering is projected to catalyze a TVL increase of over $1.18 million.
This means that if you were to LP $100 worth for 1 month; 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 $10 in CROWD paid to your wallet — funded by Crowdswap. Similarly: LPing $100 worth for 2 months → $20 upfront; LPing $100 worth for 3 months → $25 upfront; and LPing $100 worth for 4 months → $35 upfront. You would retain the rights to your USDT/CROWD LP principal, locked within your own unique FNFT, while CrowdSwap 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 USDT/CROWD pool, Resonate will farm the USDT/CROWD LPs within Crowdswap’s mining program.
By integrating with this program through Resonate, CrowdSwap is forecasted to gain $212,400 in CROWD, from their initial deployment of ~$145,000 in CROWD.
There are a number of benefits that can be seen from this undertaking. Primarily, Crowdswap is expected to make a return of between 46.48%% in CROWD on their deployments, while simultaneously reducing CROWD emissions. Additionally, since it will be required to lock USDT/CROWD LPs in return for the upfront yield; Crowdswap will be incentivizing mercenary liquidity to be locked up for the associated period of time.
What does Crowdswap do?
CrowdSwap is a cross-chain opportunity optimization and automation platform. CrowdSwap concentrates on providing the best opportunities in the crypto space built on top of their proprietary best-price-routing, aggregation algorithm and fast and secure cross-chain feature.
CrowdSwap aims to decrease the barriers to profit from DeFi opportunities. With their automation and optimization approach, users can easily take advantage of the best opportunities without the hassle of knowing every detail about the necessary steps to execute.
CrowdSwap wraps all steps into a minimum number of transactions. You benefit from spending less time searching for best prices, cross-chain bridges, adding liquidity to the correct places.
With the revenue generated from fees charged within the platform, Crowdswap distributes 70% of which back to their stakers, 20% to liquidity and a 10% burn or buyback.
To learn more about Crowdswap
Website | Twitter | Telegram | Discord
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.