Duet Protocol Ico Review: A Multi-chain Synthetic Asset Protocol

About Duet Protocol Ico

Duet Protocol Ico is a synthetic assets minter built on a Yield Aggregator that automates the process of yield farming, maximizes its returns, and releases additional liquidity to the users. In the short run, the receipt token holder can enhance their returns by utilizing stablecoins minted with the Duet protocol. In the long run, Duet protocol will be the reserve capital system that supplies liquidity to almost all DeFi protocols whilst generating a world of synthetic assets whose values are 100% backed by its reserves.

Duet protocol (Duet) is a Multi-chain synthetic asset protocol that sharpens all assets for use in the blockchain world. A duet in music refers to a piece of music where two people play different parts or melodies.

It is a synthetic asset minter built on a Yield Aggregator that automates the process of yield farming, maximizes its returns, and releases additional liquidity to the users.

In the long run, the vision for the Duet protocol is to be the entry point of liquidity providing, the reserve capital system that supplies liquidity to almost all DeFi protocols whilst generating a world of synthetic assets whose values are 100% backed by its reserves.

Duet Protocol Ico Key Information

Key Features

Algo based hyper-collateralization model

Boosting capital utilization while enhancing system robustness

Hassle-free Diversification

diversify portfolio risks across asset classes in one crypto wallet

Yield Enhancer

maximize yield as a liquidity provider of any DeFi protocol （yToken, cToken, LP token, etc）

Market Maker Mechanism

risk-neutral mining for liquidity providers, maximize liquidity for investors

Duet Bond

lock-up highest return without compromising liquidity

Governed by DAO

delegate power to the users in a transparent & censorship-resistance way.

Liquidity Providers

When a user supplies capital to the Duet protocol, which is subsequently supplied to other defi protocols as liquidity, the user is considered a liquidity provider. A liquidity provider could mint synthetic assets that generally do not fluctuate in value, like stable coin dUSD. Duet provides liquidity providers with

1. 1.Automated reinvesting: automatically reinvests rewards from the receipt tokens and enhancing overall return
2. 2.Free line of credit: Mint dUSD free of interest, use dUSD to acquire additional exposure to more assets or to simply spend it without having to sell their positions
3. 3.Yield on dUSD lending pool: Mint dUSD and deposit in lending pools to earn additional yield on top of the automated reinventing
4. 4.Reward on dUSD AMM pool: Mint dUSD and provide liquidity to designated dUSD AMM pools to earn reward.

What is the Duet Token

DUET token is not only the governance asset of the project but also plays an important role in the components. The intention of the design is to balance user incentives and support the medium and long-term development of the protocol. After the main function of the Duet launched, DUET can be used as an important collateral asset for minting synthetic assets, and also can adjust the capital utilization level and collateral ratio.

Utilities of Duet Token

All of the Duet services including minting unit, security unit, liquidation unit and swap unit charge fees from the users, which is paid to the Duet treasury as income. The Duet DAO will approve spending to various farms. The farms are set with clear goals to grow the ecosystem and in turn increase the demand of the Duet services and thus generating more income.

All farm rewards are paid in $Bonded Duets, which will mature in 12 months time, but can be prematurely sold on the bond open market with a discount determined by market forces. The Duet Treasury buybacks Duet tokens with residual income to increase the price of the Duet token in the long run.

Governance

Duet is an open, community-driven protocol governed by DAO. Proposals such as proposed system upgrades, acceptance and removal of collaterals, listing and delisting of dAsset, revisions of DUET incentive plan, are voted collectively by the DUET bond holders.