Inspiration
What it doesDuet is a synthetic asset protocol based on a hybrid mechanism: over-collateralization and algo-stabilization model that enables on/off-ramp between traditional real assets(Flat Assets) and high-growth crypto assets(Sharp Assets).
Duet synthetic asset is targeting the stock market. Compared with current methods, Duet delivers a unique design to optimize minting and trading.
Openness and user-friendly：Comparing to Binance or FTX CM equity methods, on-chain synthetic assets minting is easier and friendly for investors, having no entry barriers, procedures cost, or single spot risk.
Multiple collateral positions: Synthetix and Linear adopts the single asset deposit with sharing debt method. Compared to them, Duet chooses multiple collaterals with separated CDPs, which reduces minters’ risk and raises scalability.
Assets diversity and compatibility: Compared with MakerDAO’s DAI and Mirror’s UST, Duet accepts various types of synthetic assets and embraces wider ecosystems, and supports Ethereum, BSC, and other EVM compatible blockchains.
Compatibility: Duet provides transferable dAssets which could be leveraged in other DeFi protocols, compared with perpetual-ish protocol which only supports long or short positions.
Duet is supporting Muse Museum, a research institution mainly researching the mapping relationship between the real world and the virtual world. And also DAOrayaki, with a special focus on DAO projects and DAO governance.
The ecosystem of Duet Protocol began to take shape after several months of progress. Zerogoki, the pilot protocol of Duet, has been live for nearly two months. Users can use the platform token REI to mint zAssets(synthetic assets) or use the algorithm-pegged stablecoin zUSD to buy zAsset directly. The highest liquidity has reached over five million dollars, with a total value of synthetic assets of over 3.8 million dollars, trading volume and liquidity of zUSD reaching 2.3 million dollars which have ranked top 4 among the algorithmic-stablecoins on Uniswap. Zerogoki has already achieved product deployment on Ethereum. Its platform token REI has cross-chained on BSC, Polygon, ZKS, etc. REI is now listed on Bitwell and is going to be listed on MEXC.
Duet has also established jointly with LD Capital a research institution called Muse Museum which studies the potential impact DeFi will bring to the mechanism in traditional financial markets such as pricing, clearing, and hosting. At the same time, Muse Museum works with Aletheia to publish the first report on Duet mechanism validation and will continue to produce more. The chief scientist Professor Yuyi Wang, who is a post-Doctorate from the Federal Institute of Technology Zurich, has launched research and analysis on the DeFi protocol from the perspective of game theory and cryptology and keeps improving the mechanism design.
Centering on its business scenarios, Duet has entered into heating market sectors such as loan agreement and NFT to build up its ecology.
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