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Exotic Markets Creates First Dual Currency Note on Solana

2 mins
26 May 2022, 18:02 GMT+0000
Updated by Shilpa Lama
26 May 2022, 18:02 GMT+0000

Exotic Markets is excited to introduce the Dual Currency Note (DCN) on the Solana blockchain.

DCN has merit in any market condition and will rekindle overall interest in cryptocurrencies following the recent Terra-UST debacle. 

Exotic Markets has brought its Dual Currency Note feature to the Solana blockchain after a thorough devnet testing phase.

That large-scale test noted participation by over 140,000 wallets as users were eager to introduce the potential of the Dual Currency Note.

Furthermore, ongoing bearish and sideways crypto market momentum sparks an interest in new opportunities to diversify portfolios without taking too many risks. The DCN product operates well under bullish, bearish, and indecisive market conditions.

It enables users who hold their favorite crypto asset to invest in DCN upside denominated in their preferred asset.

For instance, a Solana holder can invest in a Dual Currency Note and receive their upside in bitcoin. There is no need for alternative assets or wrapped tokens. Generating yield on the asset one holds for the long-term is the next logical step in decentralized finance.

More importantly, it is a sustainable yield farming opportunity and one that allows users to maintain their positive outlook on their preferred crypto assets. 

Entering a DCN upside trade makes perfect sense to those who expect big things from cryptocurrencies over time. Maintaining a long-term vision has always provided substantial rewards to HODLers, regardless of which asset they hold in their portfolio.

Primarily SOL holders have reaped the rewards from seeing prices climb as high as $243. Even in the current landscape, there is a real chance a new all-time high price will be recorded relatively soon. 

Unlike other solutions, DCN does not require depositing SOL or USDC into small-cap coins or vaults using a rather unusual operating mechanism.

Moreover, Dual Currency Note is built with sustainable yield generation in mind, whereas other offerings suffer from inflated token supplies as the generated asset has very little demand. Rewarding users with yield in the currency they already own is the next logical step in DeFi

Exotic Markets has transparently put together the DCN offering, with all risks and processes clearly explained before users get on board. In addition, users maintain full autonomy over their assets and yield, further empowering the HODLers.

Exotic Markets’ mainnet will offer unprecedented DeFi products, and the Dual Currency Note offers a glimpse of what users can expect further down the line. 

Other products to access on the Exotic Markets mainnet include Worst-of-options, accumulators, and autocallables.

Future platform additions will include a referral program, trading competitions, and various forms of educational content – through a collaboration with Xcellerate – to introduce a learn-and-earn aspect to the ecosystem. 

About Exotic Markets

Exotic Markets is a Solana-powered defi protocol that helps users diversify their portfolios and maximize returns through user-friendly structured products. Backed by several leading investors in the blockchain space, Exotic Markets’ ultimate goal is to democratize yield for all investors.

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