The Secret Network blockchain is the first to provide data privacy by default. Meanwhile, KeyTango is a DeFi platform that makes people can invest in it very easily. These companies have developed Duplex Finance together.
But, why did they create this protocol? What are its effects of it on the ecosystem? In this article, you will learn the value that Duplex Finance provides and how you can benefit from it.
What is Duplex Finance?
Duplex Finance is a decentralized investment scheme that will provide an exceptional income on stablecoins. The capacity to use a single invested asset to earn income from two independent sources is the originality of Duplex’s approach.
Source: Duplex Finance
When investors normally invest in crypto, they fund their stablecoins in an Ethereum protocol, or also bridge them to a layer 2 network, right? Well, with Duplex Finance, anyone can invest in both ways to get higher profits with the same investment.
To do this, Duplex. Finance utilizes a Secret Network bridge, that instead of holding the ERC-20 tokens as collateral, is using keyTango’s Catalyst platform to deploy the ERC-20 tokens into the best Ethereum DeFi protocols.
https://t.co/QqgC0TPtGR update:@SecretNetwork & @TangoKey are concluding https://t.co/QqgC0TPtGR’s pilot. The pilot was extremely successful and we're now considering the best path forward, in terms of potential modifications and implementations.
— 𝕊ecret Network – Shockwave is Here ⚡🌊 (@SecretNetwork) January 13, 2022
How to Participate in Duplex Finance?
To get involved in Duplex Finance, you need to get an invitation from the protocol. You can apply to the whitelist to get a chance to have an allocation. Also, the minimum amount to invest in Duplex Finance is $10,000.
It’s important to mention that the protocol prioritizes giving access to the community of Secret Network and KeyTango. Therefore, we recommend that you can first belong to both communities.
Another way to get involved is by receiving an invite by a referral which may only be accepted from Duplex. Finance members who have previously enrolled.
More About The Secret Network and KeyTango
At the time of writing this article, The price of the secret network’s native token, $SCRT, has grown 8.7% in the last 24 hours which is currently trading at $9.02 with a marketcap of $1.4 billion and a circulating supply of more than 157.8 million tokens.
On the other hand, $TANGO, the native token of KeyTango, has grown 1.3% of its price in the last 24 hours, which is currently trading at $0.074 with a marketcap of $ 1 billion and a circulating supply of more than 13.5 million tokens.
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