Secret Feature: Duplex Live on Mainnet!
Duplex - an innovative platform that provides world class yield on stable assets, starting with UST - is now live on mainnet. Powered by keyTango and the privacy-preserving guarantees of Secret Network!
Hello to the Secret community! Today we're excited to feature a new Secret App on our blog: Duplex.Finance, which has now launched on the Secret mainnet.
Duplex is an investment program set to deliver unprecedented yield on stablecoins, introducing a game-changing two-layer strategy that outperforms any other product in the market. Stablecoins are on the rise with 10X market growth in the past year ($100B+) and growing allocation in investors’ portfolios. Despite their solid utility and mass adoption, It’s increasingly difficult to find high-yield investment products for stablecoins.
Duplex was developed in order to harness the full potential of stablecoins, introducing a game-changing two-layer strategy that outperforms any other stablecoin investment product in the market. The innovation of Duplex’s strategy is the ability to utilize a single invested asset to generate yield from two distinct sources on two distinct networks by connecting to keyTango: a Web3-based investment solution that functions as a gateway for DeFi products and services. It is connected with multiple projects on a variety of DeFi markets, giving users a wide selection of financial tools to choose from if they are looking for ways to maximize the capacity of their assets in making a profit.
Traditionally, investors can either:
- Invest their stablecoins in an Ethereum-based investment product, or alternatively
- Cross a bridge to a layer 2 network and invest an equivalent, synthetic token in that network, effectively locking their “original / ERC-20” as idle collateral in a bridge
Duplex empowers investors to be able to do both via intelligent use of keyTango’s Catalyst platform and the Secret Network Ethereum bridge to deploy ERC-20’s into best-in-class Ethereum-based investment products such as yield farming, liquidity providing, staking, derivatives, and other yield strategies while simultaneously also using the underlying stablecoin assets to also earn liquidity providing rewards on SecretSwap. The initial use of the keyTango product uses UST as the prototype asset, with the potential for more stablecoins to be added in the future.
How can I join Duplex.Finance?
Due to the program’s $5M volume cap, participation in Duplex.Finance is limited to an ‘invite only’ basis, which requires interested users to apply through a waitlisting process. A minimum deposit value of $10k and an invite is required to participate. The first way to receive an invite is by requesting access to participate and filling out a short form. The participation plan highly prioritizes Secret Network or keyTango community members, allowing them to gain early access to the program and generate other substantial benefits.
The second way to receive an invite is by referral, which can be accepted only from already registered Duplex.Finance members. Approved users will receive an informing email accompanied by a one-time code that grants access to Duplex’s investment app.
Check out Duplex today and sign up to start earning!
Onwards & Upwards!
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