Introducing Duet Protocol App V1.2 : Features and New Module

Feedback is critical for improvement and growth, and Duet Protocol users have been fulfilling this mandate since its inception.

Duet Protocol’s V1 app mainnet has been operational for more than two months. With over 117 thousand Twitter followers and over 38 thousand Discord server participants, the record shows tremendous growth in user, fund contribution, and social metrics. The total amount contributed by users has been estimated to be more than $3 million.

With user feedback in mind, the version 1.2 Duet app has just been released, and this article will tell us more about the features.

About Duet Protocol

Duet Protocol (Duet) is a Multi-chain synthetic asset protocol that sharpens all assets for use in the blockchain world. A duet in music refers to a piece of music where two people play different parts or melodies. Similarly, Duet Protocol allows traders to replicate the real-world tradable assets in a decentralised finance ecosystem.

Duet Protocol bridges the gap between the physical and digital worlds by developing a synthetic asset that allows users from all around the world to easily access traditional assets such as stocks, precious metals, and real estate. Financial products that mimic the return on a real asset are known as synthetic assets. The name derives from this. For those who cannot or do not want to own the original material, this is an intriguing option. In the field of definition, synthetic assets will mimic the profitability and volatility of genuine trading assets.

What’s new?

  • Addition Of New Pairs

Duet has updated the Earn module with new pairs and assets. When you visit the Earn module section of the Duet app, you will notice that some pairs now have a star symbol beside them.

In essence, when users add liquidity to these starred pairs, they will now be rewarded in the form of bDuet as well as an auto compounding reward.

  • bDuet Reward Checker

In the earn module, there is also “the farm,” where users can enjoy and check rewards in bonded DUET (bDUET) form.

To earn bDuet, users must first provide liquidity to any of the starred bDUET in the Duet app.

  • Introducing Bond Module
  • The maturity period influences the price and yield-to-maturity (YTM) percent in bDUET. As a result, a longer maturity period will result in more DUET tokens after the maturity date (a higher YTM and lower price), and vice versa.
  • Introducing New Assest : Duet dAssets — dXAU and dWTI.

To provide users with more access to valuable assets ,Duet has introduced new synthetic assets to the previously added Duet stable coin dUSD:

  • dXAU (gold),
  • dWTI (oil))

These new assets are intended to assist users in lowering net value and generating consistent profits in a volatile market.Check how to add these new assets here.

Conclusion

The Duet App provides a plethora of benefits to users, ranging from bonds to farming to increased earnings and higher APYs.

The duet team appreciates feedback from users and community members as this helps improve the app and create a better experience for users.

Learn more about Duet

Website Medium Gitbook Twitter

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I’m a relatable life writer . Currently developing content for Web3, Defi and blockchain projects and communities.

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Bassey Saviour

Bassey Saviour

I’m a relatable life writer . Currently developing content for Web3, Defi and blockchain projects and communities.

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