Resonate Announces Partnership with LandX
Very pleased to announce our newest partnership with the Perpetual Commodity Vaults Protocol, formally known as LandX!
What are we doing together?
LandX has committed to creating two pools on Resonate: a USDC pool that earns yield in xUSD, and an xBASKET pool which earns its yield in xBASKET.
LandX will, subsequently, send an initial deployment of $100,000 to these two pools. Please note that these LandX pools aren’t in operation presently. However, they are set to release soon after the launch of Resonate.
LandX will offer an upfront payout of 10% and 5% in the form of a bribe to USDC and xBASKET stakers, respectively; in return for locking their liquidity for a term of 12 months. This offering is projected to catalyze a TVL increase of $1 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 $10 worth of xUSD or $5 worth of xBASKET (depending on the pool chosen) paid to your wallet — funded by LandX. You would retain the rights to your LP principal, locked within your own unique FNFT, while LandX 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 either pool, Resonate will farm the underlying token in LandX’s staking system.
By integrating with this program through Resonate, LandX is forecasted to gain $150,000 in xUSD and xBASKET, from their initial $100,000 deployment.
There are a number of benefits that can be seen from this undertaking. Because LandX will be offering xUSD upfront and gaining returns in xUSD; LandX is engaging in stablecoin boosting. Since LandX will also be offering xBASKET upfront payments and gaining returns in xBASKET; LandX will also be boosting their returns for xBASKET. Through these two pools on Resonate, we’re able to achieve treasury growth for LandX.
In the future, as LandX moves into their role as a commodities perpetual system, Resonate will facilitate the sale of future yield on these perpetuals.
What does LandX do?
Up until now, there has been little alternative to fiat-based currencies when looking for low volatility assets in DeFi. LandX aims to change that with their cToken commodities and xToken perpetual commodity vaults. LandX is set to bring agricultural commodities and their associated yield to DeFi.
How does it work?
LandX provides capital to real-world farmers in exchange for a legal share of their crop in perpetuity. This contract is ensured by a farm audit, security deposit, and a lien on the farmers land. The farmer’s crop share is then tokenized within a LandX perpetual commodities vault. This is then extended to any number of commodities, including but not limited to wheat, soy, rice, corn, and so on.
The protocol is based upon two key classifications of tokens; cTokens and xTokens.
cTokens are designed to track the value of an agricultural asset. These provide exposure to the underlying commodities price markets, as well as acting as an inflation hedge due to the fact that purchasing power is relative to an underlying food product rather than any central currency. Effectively, cTokens are on-chain commodities pegged to the price of 1KG of the underlying product.
xTokens are the perpetual commodity vaults that make this on-chain arrangement possible. These are liquid, tokenized derivatives that are tradable on the blockchain. xTokens provide investors with a means of generating yield. Each staked xToken yields one cToken per year.
The resulting yield is sustainable and backed by real commercial production, as well as providing investors a new means for diversification by introducing an asset class uncorrelated from crypto and stock markets.
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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.