Duet Protocol Monthly Update- June 2022
Overview
Whether it is a bull market or bear market, Duet Protocol will always continue to BUILD! In the month of June, Duet Protocol has made good progress by introducing new features for Duet users, listing $DUET token on an on-chain visual tracker, Dune Dashboard, and more! Check out the monthly report for more details.
Project Development
1. Delisting of UST
UST single staking & UST-BUSD LP was archived in the Duet App as Luna 2.0 was announced and UST would not be part of the new Luna hard fork and UST had become an idle asset. “Archived” is a newly introduced tab in the Duet App Earn Module where all future delisted strategies will be put there, allowing users to remove their funds from the strategy later in case they did not withdraw.
2. ebCAKE Public Test
Before the official launch of the ebCAKE strategy, Duet Protocol announced a public test of the strategy from 10th to 23rd June during which a total of around 484 $CAKE were staked by the Duet Community and earned rewards with a juicy APY of 45.59%.
A total of 78 transactions were generated in the smart contract:
https://bscscan.com/address/0xcb08e86e51ad11025619b01ca28eec6601fba8f7
The team also kept bDUET rewards worth $2000 for participants in the ebCAKE Public Test.
When the Public Test was active, the ebCAKE strategy was promoted by BSC News, and BNB Chain official Twitter retweeted Duet's Twitter post.
3. ebCAKE Official Launch
The ebCAKE strategy officially went live on Duet App on 24th June starting with ebCAKE-Rabbit which has a period from 24th June 2022 to 10th October 2023. In total every year there will be 4 ebCAKE strategies: ebCAKE-Rabbit, ebCAKE-Hare, ebCAKE-Bunny & ebCAKE-Conny.
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For more information about the ebCAKE strategy you can refer to the medium article:
https://blog.duet.finance/ebcake-strategy-is-now-live-on-duet-app-954eb0f51f35
4. $DUET Call Option on Shield DAO
Duet Protocol partnered with Shield DAO to give $DUET Hodlers the opportunity to maximize their returns by forming a call options strategy (a strike price and 25% APY) in the SS Covered Call Vault.
5. $DUET listed on Bubble Maps
Users can now explore $DUET on-chain transfers in a new way through visualization. The $DUET map will show interactions and reveal deeper connections between wallets.
6. Duet Protocol Dashboard on Dune
Duet Protocol now has a dashboard on Dune! Users can check out and track project statistics such as Active Users of the protocol, Daily Fund Deposits & withdrawals, Daily Liquidations, and Daily Borrow & Repay.
Duet warmly welcomes the community to contribute to the Duet dashboard to polish and make the dashboard more well-rounded.
Duet Dashboard Link: https://dune.com/duet/duet-dashboard
Community
- The ‘Do You Know’ series was continued in the month of June educating the community about Duet App features.
2. As an additional incentive for the Duet community during the ebCAKE Public Test, the team launched a gleam campaign in which more than 300 users participated in the campaign.
About
Duet protocol is a Parallel Universe that turns flat assets into sharp assets.
Duet protocol is a multi-chain synthetic assets ecosystem, producing various pegging assets from stock, index, ETF, commodities, or any assets with a price feed on the blockchain. Duet aims to allow all Web3 residents to allocate funds to any asset with just one crypto wallet.
🌟Official website: https://duet.financel
🌟Linktree: https://linktr.ee/duetprotocol
🌟Gitbook: https://duet-protocol.gitbook.io/duet-protocol/master/introduction
🌟Social profiles: https://linktr.ee/duetprotocol
🌟Audit reports: https://linktr.ee/duetaudit
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