Duet Protocol announces the second group of Investors and Partners around the Globe

Just after the announcement of the first-round group of investors including OmniLAB, DraperDragon, Moonwhale Ventures, Everest Ventures Group, One Block Capital, Dutch Crypto Investors, LD Capital, cofounder of a NASDAQ listed company, etc, Duet Protocol announced on Thursday, 20th May 2021, its second group of investors and global partners.

The second group of investors represents global firms and are active in various regions around the globe including AU21 Capital in the US, Arcanum Capital in Switzerland, US and India, Paretone Capital in the US, ARKN Ventures in the UK, Phoenix VC representing UAE and Africa, NewTribe Capital mainly in UAE and the Middle East, Curiosity Capital & Blockwall Capital from Germany, 42DAO Capital from Australia and China, Titans Ventures from Vietnam, Shin Chan group from Malaysia, Avstar Capital from Indonesia, Digital Assets Group Holdings from Cayman islands, Mr.Block from Taiwan, One Piece VC from UK and Canada,7 O’Clock Capital from China, Snapfingers from Cayman,etc.

Also investors from exchanges such as PrimeBlock Ventures(MXC labs) and Foresight Ventures(Bitget). Individual investors include the founder of MaskNetwork Suji Yan and the founder of Digital Renaissance Foundation Cao Yin.

These investors from the global crypto and traditional finance community will join Duet protocol alongside to build the parallel financial universe.

According to Tomomi, one of the core contributors for Duet Protocol,

“ Duet team is delighted to see the vast interest from the investors worldwide. The vision of Duet Protocol is to build an on-chain parallel space, with global partners and contributors, governed by DAO that enables the on-off ramp of Flat Assets (Traditional Assets) and Sharp Assets (Crypto Assets). ”

Aim of this fundraise

In Duet synthetic methodology, the asset accessibility and trading usability are redefined. DUET will reform the price of financial assets in an unprecedented way. Its algorithmic pegging assets will redefine the “invisible hand”, and with over-collateralization, more assets can be leveraged and provide liquidity for trading markets.

The raised capital will help the project to expand the R&D of product and research activities. Duet protocol joined hands with LD Capital is going to sponsor a research institute called Muse Museum and also an R&D team led by Dr. Yuyi Wang, an expert of algorithmic game theory and distributed computing systems, who is also affiliated with ETH Zurich, Switzerland, as a research fellow.

The road ahead

More upcoming activities are aiming to attract global participants to join the Duet community and pave the path for decentralized finance. Duet’s vision is to build an on-chain parallel financial world governed by DAO that allows users to create & allocate capital to ANY assets. We are looking forward to having more global partners who share the same value join us together in building up this censorship-free, trustless, and transparent synthetic asset platform.

About Duet:

Duet is the world’s first multi-chain synthetic asset protocol with a hybrid mechanism (over-collateralization + algorithm-pegged) that “sharpens” all assets to be traded on the blockchain. Duet protocol will allow traders to replicate the real-world tradable assets in a decentralized finance ecosystem

Key-Value Propositions:

Open and Multi-chain

Duet Protocol aims to leverage the global cryptocurrency market potential. In contrast to Terra & Mirror and ETH & Synthetix model, Duet is a multi-chain protocol that is more open, from both technology and ecosystem standpoints

Multiple CDP

Accept more high-quality assets such as BTC, ETH, USDT, including assets unique to the DeFi world (cToken, LP token, NFT), as collateral, and reach a broader scale of underlying assets. Duet accepts competitors’ token as collateral for dAsset minting, optimizing DeFi composability

Yield Enhancement

Accept interest-bearing assets such as yToken or wrapped POS Token, which offer a basic return. The user‘s collateral will be sent to the corresponding governance/yield staking contract to earn interest.

Instant Minter

Duet protocol provides dual pipelines for synthetic dAsset supply. In addition to over-collateralization, dAsset could directly mint from DUET. To issue dAssets, equivalent DUET will be burned

DUET Utility

DUET can be deposited as collateral to mint dAsset and as a conditioner of liquidation limit for users’ CDP. In the Duet dAsset mining module, users can deposit dual assets (any acceptable collateral token and DUET). DUET value could decrease the CDP liquidation limit (approaching 100% with infinity DUET staking) to raise capital efficiency. In instant minter, DUET acts as a medium of exchange between native tokens and dAssets.

DAO Governance

Duet is governed by DAO, the Duet token holders will be able to vote using Duet Protocol’s on-chain governance system. There are two major types of votes: Collateral Polls and dAssets Votes. We will improve the DAO governance through schemes such as quadratic voting and grants.

Stay updated on the Duet’s progress by following on social media channels and communities.

Website: https://duet.finance

Telegram: https://t.me/duetprotocol

Discord: https://discord.gg/GZgh4Q3end

Medium: https://duetprotocol.medium.com

Twitter: https://twitter.com/duetprotocol

Facebook: https://facebook.com/duetprotocol

Whitepaper: https://duet.finance/doc/Duet-Protocol-White-Paper.pdf

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Duet protocol is a synthetic asset protocol that allows traditional assets to migrate to high-growth crypto-assets