Introduction
Fyde pioneers a secure, non-custodial ‘liquid vault’ representing the cutting edge of DeFi asset management and is looking to establish a $100k pilot program with Metis.
Users deposit a variety of tokens into the vault, receiving instant diversification and gaining enhanced performance, liquidity and yield via the TRSY token (the vault wrapper token). Additionally, users are incentivised to trade TRSY, offering a reliable and efficient payment avenue. The governance token FYDE enables a series of incentives to facilitate deep and efficient on-chain liquidity for TRSY. This enables users to get both diversification and boosted on-chain liquidity in a single solution.
The protocol is stress tested and optimized by the Fyde Simulation Engine which stress tests on-chain protocols across black swan events.
Our team is comprised of PhDs from Cambridge, Stanford, UCLA, portfolio managers from JPM and other bulge brackets, and builders from Synthetix, Ocean Protocol, Wintermute, and Bloomberg.
Value Proposition
Fyde Treasury Protocol provides a route for METIS holders to instantly diversify their holdings without having to market sell their METIS tokens.
METIS has been whitelisted by Fyde Treasury Protocol. After depositing METIS into Fyde’s liquid vault, the depositor receives TRSY which is backed by all assets in the vault. Currently if a METIS holder would like to diversify a part of their position they would have to sell METIS in the process.
The value proposition is structured largely to serve DAO treasuries / foundations / founders. Early community members, investors and core contributors can often have similar needs in terms of risk management.
We look forward to serving the METIS community and exploring how our solution complements the METIS ecosystem.
Uniqueness Factor
Fyde Treasury Protocol is a novel concept in DeFi. Currently, we are one of the leading solutions focused on providing a route for the diversification of native tokens (eg. METIS).
While there are a number of protocols offering Treasury Management type solutions, they often create a mismatch where the treasury needs to sell native tokens into stables or ETH/WBTC first. This is often done at the detriment to token price and can open a protocol up to governance attacks.
Fyde circumvents this process by allowing protocols and teams to access treasury management solutions using their native tokens whilst being able to keep the governance rights of those tokens.
Benefits for Users
- New trading Pairs:
METIS benefits from 35+ new direct trading pairs as tokens can be swapped without routing through WETH / USDT - our vault becomes the cheapest place to execute swaps at scale
- No Lock-ups:
Deposits are non-custodial and can be withdrawn instantly, providing flexibility to depositors
- FYDE Points:
METIS is currently underweight in the liquid vault. All depositors of METIS while the token is underweight will receive 2x boosted FYDE points leading up to our TGE in Q2.
See the Fyde app to deposit.
Benefits for Metis Ecosystem
- Diversification:
Fyde enables the METIS ecosystem to diversify any concentrated METIS positions, enhancing overall resilience and allowing the ecosystem to better grow across market cycles.
- Liquidity:
Depositing METIS into Fyde’s Liquid Vault increases liquidity and trading volume across DEXs / CEXs through new pairs.
- Institutional Support:
Fyde is currently working on the distribution of TRSY to a number of institutional partners. These inflows will provide additional liquidity support for METIS.
Media
Yahoo Finance: Fyde Treasury Secures $3.2 Million in Seed Funding Round for Crypto Treasury Management Solution
Roadmap
Current: Liquid Vault Launch
Launched V1 of the Fyde Liquid Vault, enabling deposits of native governance tokens into a diversified vault to receive $TRSY (Treasury Token).
H1 2024: Swaps, TGE, POL
Swaps will be enabled on the Liquid Vault. TGE of $FYDE (native gov. token) is expected to occur, enabling POL. Bonding curves to increase liquidity of $TRSY.
H2 2024: MEV, LSTs/Restaking, Simulations
MEV arbitrage will boost yield for Liquid Vault. Specific vaults for LSTs & Restaking will be focal point. Fyde simulation engine unveiled.
H1 2025: Modular Vaults, Sim. Integration
Vaults will be modularized for customization and flexibility. Simulation engine vertically integrated and will play a larger role in Fyde.
Beyond+: Continued Expansion
Continued development of simulation engine and Fyde vaults product suit.
Summary
Fyde Treasury Protocol has whitelisted METIS as a core asset within the liquid vault. Fyde aims to support Metis users and the wider ecosystem to increase liquidity and stability for METIS.
Official Links
dApp: https://app.fyde.fi/
One Pager: https://docsend.com/view/sb69swsm9y6kbpgx