Resonate Finance Collaboration with GMX

Published on: 04.10.2022
Resonate Finance Collaboration with GMX

Resonate Finance Collaboration with GMX, they will envision applying Resonate to make the rights to future interest tradable on the GMX ecosystem’s yield-bearing assets.

GMX is a spot and perpetual DEX that offers transparent on-chain leverage trading, with low swap fees and zero price impact. It operates within the Avalanche and Arbitrum L2 ecosystems. And has amassed over $420M in TVL at the time of writing. Trading is supported by a unique multi-asset pool, GLP, where liquidity providers earn fees from market making, swap fees and leverage trading. As Resonate Finance announcced its Collaboration with GMX.

Why Resonate?

Resonate splits apart the interest and principal components of a yield-bearing position. Those who hold tokens which may be deposited into yield-bearing systems can receive an instant, upfront payment on the present value of that future yield, in exchange for locking their tokens. An ideal solution for traders who want to receive guaranteed and consistent yield farming rewards for staking tokens or providing liquidity. For those who want to purchase the Yield Futures, or the rights to future yield, Resonate places them in a position where they can do so at a discount to the expected future value of the interest. For protocols wanting to reduce their burn rate, this discount can offer a better way to incentivize providing LPs.

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About Resonate

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.

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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).

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SOURCE: MEDIUM
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