SOL - Exotic Markets' Dual Currency Note (DCN) debuts on Solana
After a thorough devnet testing phase, Exotic Markets has introduced and launched its Dual Currency Note (DCN) on the Solana blockchain.
DCN is meant to rekindle the overall interest in cryptocurrencies after the recent Terra-UAT debacle that caused the general crypto market to plunge.
In essence, the DCN maintains its merits in any crypto market condition.
DCN’s devnet testing phase
The large-scale DCN testing featured more than 140K crypto wallets showing how eager crypto investors were for the introduction of the Dual Currency Note.
The current sideways and bearish movement of the general crypto market has triggered an interest in new investment opportunities within the crypto space as investors look to diversify their portfolios without much risk.
How the DCN operates
The DCN operates well in all market conditions, be it bearish, bullish, or sideways, thus enabling users on the upward denomination of their favorite crypto asset.
An example is a Solana (SOL) holder can invest in a DCN and get their upside in bitcoin (BTC). It eradicates the need for an investor to hold too many alternative crypto assets or go for wrapped assets.
Investing in a DCN allows an investor to generate yield on the specific crypto asset that the investor holds without having to look at alternatives. It also enables users to maintain a positive outlook on their preferred crypto asset.
Crypto HODLers are always for a long-term investment in a cryptocurrency since they mostly provide substantial rewards and having an added yield on top of the rewards of HODLing I an added advantage. For example, if DCN was available at an early stage, Solana (SOL) holders would have benefited twice both from seeing the value of SOL climb to $243 and from entering a DCN upside trade.
About Exotic Markets
Exotic Markets is a Solana-based DeFi protocol that aims at helping users maximize their returns and diversify their crypto portfolio through user-friendly structured products. It is backed by a number of leading investors.
Exotic Markets has explained the entire DCN process and laid out all the risks involved for users to be informed before investing.DCN investors also maintain full autonomy over their yield and assets.
Once fully completed, the Exotic Market’s mainnet shall offer unprecedented DeFi products and the DCN is just a glimpse of what to expect. Some of the other products to access on the Exotic Market’s mainnet include accumulators, autocallables, and Worst-of-options.
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