Resonate Partnership With Party Finance
Resonate Announces Deployment Partnership with Party Finance
Resonate partnership with Party Finance. Through their partnership with Resonate, PartyFi will integrate upfront future yield buyouts and the associated FNFT liquid-staking access for all Party users.
What are they 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 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.
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 lock up for a period of time in order to receive the upfront yield. The Party Finance 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 & hold cryptocurrencies & 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 & retail will be able to trustlessly invest their treasuries on behalf of their communities. Distribute any profits thereof or airdrops to their members.
PartyFinance is the improved version of traditional DeFi – a U2E (Use to Earn) gamified investing platform that allows users to party up to Trade, Network, Learn & Invest together as a single entity.
Resonate 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, and purchasers.