Exotic Markets, a decentralized wealth management protocol on the Solana blockchain, was launched today, Friday, February 18, 2022 on DevNet.
With this launch, Exotic Markets launched the first dual currency banknote and accumulator, allowing access to a wide range of payments for users in the burgeoning decentralized financial markets.
Double currency notes allow DeFi participants to deposit their tokens and in turn get rewards paid according to the performance of the tokens deposited. Users looking for diversification can add to their portfolio by leveraging the protocol accumulator feature, which helps holders access the tokens deposited earlier when they reach low price levels.
The alpha version of the protocol technology also allows users to test flexible structured products. On the mainnet, pre-packaged investments will provide returns in stablecoins, not in governance tokens.
Still on DevNet, users can monitor their investments and even manage swaps, with ease of use enhanced by platform compatibility with popular Solana wallets like Phantom and Solflare.
Users will have access to a real-time leaderboard where they can monitor performance, with the worst features allowing the worst performing tokens to receive NFT vouchers as rewards along with the best performing tokens and the most active users.
Initially, the DeFi protocol will support five tokens on its DevNet, including Bitcoin (BTC), Solana (SOL), Serum (SRM), Raydium (RAY) and USD Coin (USDC).
As for future plans, Exotic Markets is targeting a release on Mainnet by the end of March 2022. The protocol will also launch its EXO token.
Multicoin and Ascennsive Assets led a $5 million private investment round in December 2021, with token sales also donated by Animoca Brands, Morningstar Ventures, Alameda Research, and Solana Capital.