Resonate Announces Deployment Partnership with Party Finance
Very pleased to announce our newest partnership with the vibrant community at Party Finance!
What are we doing together?
Party has committed to running two concurrent programs through Resonate.
The first program will consist of two Fixed-Term Resonate PFI/USDC QuickSwap LP pools. These pools will offer either 3.5% or 7.2% of the deposit upfront for locking the LPs for either 3 or 6 months, respectively. This program is expected to catalyze a TVL increase of $3.6 million.
The second program will consist of three Fixed-Return Resonate PFI/USDC QuickSwap LP pools. These will be fixed-return pools, offering 8%, 10% or 12% upfront, but locking the principal until 0.1% less than the upfront payment(s) is generated in yield.
Each of these five pools will be allotted a deployment of $32,000 in PFI, funded by Party Finance.
Issuers retain the rights to their principal, locked within their own unique FNFT, while Party would gain ownership of their 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 is the yield coming from?
Upon committing to any of the PFI/USDC QuickSwap LP pools, Resonate will farm the LPs in QuickSwap.
By integrating with this program through Resonate, Party is forecasted to gain about $9,000 in USDC, from their initial deployment of $160,000.
There are a number of benefits that can be seen from this undertaking. Because PartyFi will be offering PFI upfront and gaining returns in dQUICK and can swap these returns for USDC; PartyFi is essentially performing a synthetic swap. Through this synthetic swap, Party Finance will diversify their treasury, adding stablecoins to it, at a net boost of about 5.5%. Since PartyFi isn’t swapping PFI for USDC directly, there is no added sell-pressure on PFI through these programs. Furthermore, since all five pools require PFI/USDC QuickSwap LPs to be locked up for a period of time in order to receive the upfront yield, Party Finance is incentivizing mercenary liquidity to lock down their tokens for that period of time.
What does Party Finance do?
PartyFinance allows users to pool funds together in a wallet to form a “party” (DAO), where they can collectively buy, sell and hold cryptocurrencies and curate NFT collections under four preset
governance models.
Party Finance plans to service DAOs, which have sizable treasuries, needing to invest on behalf of their community. Equally, PartyFi aims to support retail traders looking to make their name in DeFi. By simply creating a ‘party’ on PartyFi, DAOs and retail will be able to trustlessly invest their treasuries on behalf of their communities, and distribute any profits thereof or airdrops to their members.
Through their partnership with Resonate, PartyFi will integrate upfront future yield buyouts and the associated FNFT liquid-staking access for all Party users.
To learn more about Party
Website | Twitter | Telegram | Discord | 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.