- Solana-based Exotic Markets introduced the first dual-currency notes.
- It also launched accumulators feature on DeFi.
- The alpha version of the protocol via DevNet went live today.
Exotic Markets announced its flexible structures products protocol to the Solana blockchain. The team introduced an alpha version of the protocol through a DevNet platform launch today, February 18.
The team told CoinQuora that they will be bringing never-seen-before products to the DeFi industry. Some of these products as mentioned by them include accumulators, dual-currency products, and worst-of options.
The Accumulator feature offers the option to buy a token at a lower price for those who prefer to diversify their portfolio. In addition, users can deposit their token and be paid a return linked to the performance of the deposited token with dual-currency notes.
This means users can access different arrays of payoffs in DeFi through their approach. Basically, Exotic Markets users can invest in these products through the five DevNet tokens that the team will issue once the platform goes live. Of note, the DevNet launch introduces a real-time leaderboard to help users track their performance.
Even more, users can swap their tokens whenever they desire. The team notes that it is a crucial aspect of the Exotic Markets vision as five tokens, namely BTC, SOL, SRM, RAY, and USDC, will be supported at the initial stage.
Besides this, Exotic Markets is compatible with popular Solana wallets including Phantom and Solflare. Also, an anti-cheating system will be put in place to prevent users from connecting multiple wallets.
According to the team, both the best and worst performers will receive NFT vouchers. These NFT Vouchers are redeemable for EXO tokens once the Exotic Markets MainNet launch occurs.
Furthermore, the most active platform users will be entered into a lucky draw for a chance to win NFT vouchers. Moreover, users can report bugs through an on-chain reporting solution, with the most complete report yielding NFT vouchers.
An audit of the Exotic Markets protocol will also occur in March 2022, courtesy of blockchain cybersecurity firm Halborn. Afterward, the Exotic Markets mainnet will launch at the end of the month.
Earlier, Exotic Markets raised $5 million in a private investment round. The private token sale saw participation from investors including Multicoin, Ascensive Assets, Animoca Brands, Morningstar Ventures, and others.