Novel DeFi protocol for advanced “yield farming” unlocks new opportunities for SOL holders
With its pioneering Dual Currency Notes and Accumulator technologies, Exotic Markets is set to bring never-before-seen products to Solana’s DeFi ecosystem.
Solana’s Exotic Markets announced devnet launch
According to an announcement shared by the team of Exotic Markets, its devnet-based alpha version goes live today, on Feb. 18, at 12:00 noon UTC.
In the mentioned release, a number of novel functions will be offered to DeFi enthusiasts, such as accumulators, dual-currency products and “worst-of” options.
With Dual Currency Notes instruments, investors are able to receive a return on an asset they deposited to Exotic Markets. Accumulator mode allows all depositors to maximize rewards on their liquidity.
In its inaugural release, the devnet version will support BTC, SOL, SRM, RAY and USDC tokens. Users will be able to swap them between each other.
Audit and mainnet launch expected in March 2022
Since its first releases, Exotic Markets is seamlessly compatible with Solana’s mainstream wallets like Phantom and Solflare; users can become LPs without leaving their favorite crypto instruments.
In devnet, the public leaderboard will be displayed: the best and worst performers will be able to redeem NFT certificates for EXO tokens once Exotic Market launches in mainnet.
By March 2022, the Exotic Markets team will receive the results of a third-party cybersecurity audit by Halborn, a top-tier penetration testing provider.
Once the codebase and smart contracts architecture are audited, the system will go live in mainnet. This milestone is expected to come in late March 2022.
As covered by U.Today, Exotic Markets secured $5 million in strategic funding in January. Multicoin and Ascensive Assets co-led the round, also yielding contributions from Alameda Research, Animoca Brands, Morningstar Ventures and Solana Capital TPS.