Solana Based Exotic Markets to Launch First Dual Currency Notes and Accumulators on Defi
Exotic Markets closed a $5 million funding round last year.
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The Exotic Markets’ mainnet will launch at the end of March following a security audit.
Exotic Markets to Solana Ecosystem
Exotic Markets is eager to bring its flexible structured products protocol to the Solana blockchain. The team will perform an alpha version of the protocol via a DevNet platform launch on Friday, February 18, 2022, at noon UTC.
Exotic Markets brings new products to the DeFi industry, including accumulators, dual-currency products, and worst-of options. The team prioritizes introducing the most flexible structured products to decentralized finance enthusiasts. As a result, protocol users can access the widest range of payoffs in DeFi today through this approach.
With dual-currency notes, users can deposit their token and be paid a return linked to the performance of the deposited token. For those who prefer to diversify their portfolio, the Accumulator feature may prove worthwhile, as it offers the option to buy a token at a lower price.
Exotic Markets users can invest in these products through the five DevNet tokens that the team will issue once the platform goes live.
An extra feature to explore is the ability to swap tokens when needed. It is a crucial aspect of the Exotic Markets vision, as five tokens will be supported initially: BTC, SOL, SRM, RAY, and USDC. These tokens are DevNet assets, allowing users to play around with the different investment products and monitor their performance. Moreover, Exotic Markets is compatible with popular Solana wallets like Phantom and Solflare, providing a streamlined user experience.
An anti-cheating system is in place to prevent users from connecting multiple wallets. It is an alpha launch, and the team intends to take user security to heart. Enabling an anti-cheating system at the protocol level ensures all participants have a solid and seamless experience.
The DevNet launch introduces a real-time leaderboard to help users track their performance. In addition, both the best and worst performers will receive NFT vouchers – redeemable for EXO tokens once the Exotic Markets MainNet launch occurs. Furthermore, the most active platform users will be entered into a lucky draw for a chance to win NFT vouchers.
The Exotic Markets team welcomes any feedback users have to offer. Moreover, they are open to suggestions and new ideas. Moreover, users can report bugs through an on-chain reporting solution, with the most complete report yielding NFT vouchers.
An audit of the Exotic Markets protocol will occur in March 2022, courtesy of blockchain cybersecurity firm Halborn. Halborn specializes in advanced pen testing and security audits for Layer 1 blockchain protocols. Following the audit, the Exotic Markets MainNet will launch at the end of March 2022.
Exotic Markets raised $5 million in a private investment round in late 2021. The private token sales welcomed investors including Multicoin, Ascensive Assets, Animoca Brands, Morningstar Ventures, and others.
Exotic Markets tries to bring wealth management and structured products out of the bank and into the decentralized finance world.