Resonate Partnership with QiDao
Resonate partnership with QiDao was announced last week. QiDao has committed to deploying capital to a Resonate pool to incentivize liquidity and better align incentives for their LPs. Issuers will be offered an up-front return on deposits of Qi’s flagship stablecoin, MAI, which will be locked for a set term.
This means that if you become an LP, you will now have the option to lock your LPs for the term within an FNFT through Resonate and receive your payment upfront. This will result in a buyout paid to your wallet — funded by QiDao. You would retain the rights to your principal, locked within your own unique FNFT, while QiDao would gain ownership of your future yield through a separate interest-bearing FNFT.
So why is this useful?
There are a number of good reasons. Starts from the perspective of a Purchaser, whose profile is most likely to fit that of a protocol treasury, DAO, or enthusiastic long-term investor.
These benefits include:
- Align incentives: Offer upfront incentives to tame mercenary capital and create positive feedback loops. Leverage Resonate to lock in liquidity providers, creating benevolent cycles within your ecosystem, all while stabilizing levels of liquidity.
- Regenerate your treasury: Pay upfront to secure long-term income. Utilize Resonate to replenish your native token, or perform a synthetic swap and diversify your holdings.
- Reduce your emissions: Decrease your burn rate by paying out upfront. Incentivize lockups to offset your existing emissions schedule and reduce sell pressure.
- Leverage your stablecoin farming without liquidation risk: Multiply the earning power of your stables by utilizing the leased capital of Issuers.
What does QiDao do?
QiDao is a collateral-backed stablecoin protocol, now with a presence on over 20 chains. It is self-sustaining, community-governed, and decentralized. Loans are secured by always having more collateral than debt outstanding.
QiDao enables you to borrow stablecoins interest-free against your crypto assets. These loans are paid out and repaid in MAI stablecoins. These stables mint when a user locks up their tokens in a vault as collateral. For example, if a user locks up MATIC tokens, they can then mint MAI up to a certain collateral-to-debt ratio. Users can then use the soft dollar-pegged MAI tokens while maintaining ownership of the locked Matic tokens.
The process is simple:
- Create a vault
- Deposit your crypto assets
- Start borrowing stablecoins against your collateral’s value
MAI can be use on most major DeFi platforms, such as Aave, Multichain, Curve, Balancer, and Uniswap.
ABOUT Resonate
Resonate is a Yield Futures Protocol develope by Revest Finance and built on top of Revest’s Financial NFT (FNFT) technology.
ABOUT Revest
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).
