Exotic Markets, an ecosystem of decentralized finance solutions on Solana (SOL) blockchain, introduces a completely new asset type, Dual Currency Note or DCN. It is designed to protect Exotic Markets clients from Terra-style collapses.
Exotic Markets brings Dual Currency Note (DCN) to Solana
According to the official announcement shared by Exotic Markets on its social media platforms, its Dual Currency Note mechanism, or DCN, is finally live on Solana's mainnet.
?@solana -SOL is now available on MAINNET!
— Exotic Markets (@exotic_markets_) May 24, 2022
Try our DCN UP and DOWN products
?[https://t.co/2HRaW8V5Dw]
? @exotic_markets_ is currently upgrading the platform with clearer and simpler visuals, if you have any suggestions, please let us know?:[https://t.co/1UcxvTkRbb] pic.twitter.com/30DGnkS8Gg
This instrument allows DeFi enthusiasts to protect their portfolios even during periods of increased market volatility. When a user purchases a Dual Currency Note, he/she can get his/her upside in Bitcoin (BTC).
Holders of all currencies can invest directly in DCN: this unlocks more exciting opportunities for sustainable low-risk yield farming strategies.
As such, working with Dual Currency Notes looks attractive for traders with various strategies, including passionate long-term HODLers of cryptocurrencies.
Collaboration with Xcellerate highlights play-to-earn efforts of Exotic Markets
Unlike other yield farming solutions, the Dual Currency Note (DCN) mechanism does not require its clients to hold other cryptocurrencies, i.e., Solana (SOL) or USD Coin (USDC).
As per a statement by the Exotic Markets team, this is a next-generation mechanism as it unlocks opportunities for more sustainable and comfortable rewards generation:
Rewarding users with yield in the currency they already own is the next logical step in DeFi.
Besides the mainnet release of DCN, Exotic Markets scored a long-term partnership with Xcellerate. The two teams will launch common learn-to-earn initiatives.
Arman Shirinyan
Yuri Molchan
Godfrey Benjamin
