Duet Protocol in brief
In brief, Duet protocol 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 Duet protocol, whereas in the long run, our vision for the Duet is to be the entry point of liquidity providing, 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.
When a receipt token is supplied, it is held by the Duet Yield Enhancer, which will automatically reinvest any income associated with the receipt token to maximize its return.
When an unwrapped token, such as an ERC20 token is supplied to the Duet protocol, it can be used directly as a reserve capital to mint synthetic assets or be zapped to any of the supported receipt tokens to generate additional yields.
Receipt tokens including but not limited to swap LPs, PoS farming receipts, saving receipts, governance staking receipts will be gradually supported by the protocol as a reserve asset. Other crypto assets like public chain native tokens, ERC20 tokens will also be supported.
Users who have provided capital to the reserve could mint any supported synthetic asset with Duet Minter. Investors seeking long exposure to the synthetic assets could also buy them directly on the Duet Swap in the near future.
Gradually, Duet will roll out different asset classes including but not limited to stocks, commodities, ETFs, Indexes, Real-estate, fiat currencies, cryptos, and leveraged positions.
With synthetic assets, users can trade them in swaps, mine rewards by staking them in various farm pools or hold them in wallets to simply gain exposure.