Resonate Announces Support for IOTA & Shimmer Ecosystem
We are excited to announce today that Resonate will be live on IOTA’s Shimmer network at launch!
What’s to come?
We have had a number of protocols within the IOTA ecosystem approach with a keen interest in integrating Resonate. We’re very excited by the idea of this venture, and look forward to launching alongside these partners (announcements to come), and many more in the future. We are excited by the prospect of launching into a brand new ecosystem where our system can serve as an offering to those launching new protocols from day one — embracing Resonate at the inception of a project opens up possibilities that are not easily accessible by extant projects. Obviously, this will require our base-layer protocol, Revest, to also launch on IOTA. Standby for more on this!
Timeline
- IOTA network integration 🏁
- Resonate listed on IOTA Ecosystem Portal ⏳
- More partnerships & integrations! ⏳
Why IOTA?
IOTA has seen tremendous success, both in creating a lively ecosystem and successfully partnering with some of the world’s largest corporations to bring IOT technology to the forefront. We’re proud to finally be a part of this ecosystem, and do our part in enabling a thriving DeFi ecosystem for many years to come.
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About IOTA?
IOTA is an open source, feeless, and scalable distributed ledger technology, designed to support frictionless data and value transfer. As a distributed ledger technology, IOTA provides a trust layer for any devices that are connected to the global Internet. Its key differentiator from most cryptographic networks we see today, is its unique approach to solving the blockchain trilemma. IOTA created its proprietary ledger formally known as the Tangle. It immutably records the exchange of data and value. It ensures that recorded information is trustworthy and cannot be tampered with, nor destroyed. It operates without blocks or miners. Instead, when you send an IOTA transaction — you validate two other transactions.This intuitive mechanic enables IOTA to overcome many of the associated costs and scalability limitations seen in more traditional blockchain systems.
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.