Duet Protocol announces the launch of Version 1 of Duet App

After a long wait, we are so glad to announce the launch of Duet protocol version 1. For the past few months, we have been working on adding new features and functionality to the product.

Let us elaborate more about the V1 launch:

Duet Protocol V1.0 Beta Public Test

To start with, on Jan 22, 2022, Duet Protocol launched its V1.0 beta public test and wrapped it up on the 31st of Jan 2022. During the test period, over 6,000 people participated and over 160,000 successful transactions were made during the test. We also got 400+ genuine suggestions and positive comments from the community and fixed dozens of bugs or UX issues on the V1.0 product, paving a solid foundation for Duet V1.

Key improvements since the BETA public test:

  • Duet.finance app has completed its mobile optimization.
  • The earn module has been added:
  1. You can now access all the statistics of the Earn page without connecting wallet;
  2. Earn module supports more strategies to join the yield enhancement including DUET-CAKE, BNB-CAKE, dUSD-BUSD, dUSD-DUET, DUET-wBNB, ETH, BTCB, BNB, DUET

3. Easier to differentiate the tokens’ type, which has been redivided into “Non-yield bearing” column, and “Yield bearing” column;

4. TVL and dAssets, two new fields are introduced, you can better grasp the info of the whole system

5. The slider has been introduced for you to simpler to withdraw LP or single tokens;

6. More assets have been supported by the “Zap & Supply function” including ETH, BTCB, CAKE, BNB.

  • dAssets module
  1. Clearer info display for your positions:
  2. Your liability has been divided into amount+value
  • Landing page redesigned

Duet.finance has also deployed the bond market on the BNB Chain testnet.

To explore it, you can go to: https://testapp.duet.finance/#/Bond. We have even built a testnet version’s Pancakeswap to help users easier to interact with the system: https://pancaketest.duet.finance/.

With these features updated, now users can supply single tokens, such as USDT, BUSD, and USDC, or receipt tokens, such as USDT-BUSD, USDC-BUSD, or USDC-USDT as collaterals through the Earn function in Duet.finance, and borrow dUSD now, and various types of synthetic assets, including but not limited to stocks, real estate, commodities and crypto assets with them in the future. To maximize your returns, we recommend you pair the BUSD with the dUSD you just borrowed from the system, and deposit that to the Earn module.

If you have missed the Public Test, don’t worry. You still can use this user guide to try our product and leave your precious comments on our email at contact@duet.finance.

Duet Protocol Gitbook Updates

We have also updated our Gitbook, disclosing more details around Earn, dAssets, and Farm modules. We welcome you to check on the newly updated information in order to understand Duet more profoundly.

In general, Earn is a place where users can supply either receipt token/LP, either formed in other platforms such as Pancake Swap, or on the Duet platform using Zap function, in order to borrow synthetic assets. Yield in Duet Earn can be maximized triple ways: yield from third-party protocols, the yield from farming strategies, and incentives.

dAssets are short for Duet Assets, which are synthetic assets that track the value of the underlying assets. Anyone who supplies collaterals, single token or receipt token/LP, can have the right to borrow synthetic token on Duet under over-collateralization rules. Should there be a default, users can claim the underlying collaterals by repaying the outstanding amount of synthetic assets.

Duet rewards users based on balances of assets supplied and synthetic assets borrowed. Once a user supplies incentivized assets or borrow incentivized synthetic assets, he or she is automatically considered a farming participant. All Farms will reward users with $Bonded Duet tokens with 4 months maturity only. This means, all the farming rewards can be converted to $DUET in 4 months’ time.

For detailed information, please visit Duet Protocol Gitbook to see the whole mechanism behind it.

Product and Security Audit

Duet Protocol has got two rounds of auditing for the V1’s launch, both from top-notch agencies, Peckshield and BlockSec. You can access both reports through this link: https://linktr.ee/duetaudit

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Duet is world’s first multi-chain synthetic assets ecosystem, enabling pegged assets from various markets including stocks, indexes, ETFs, and commodities #web3

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Duet Protocol

Duet Protocol

Duet is world’s first multi-chain synthetic assets ecosystem, enabling pegged assets from various markets including stocks, indexes, ETFs, and commodities #web3