Duet Protocol

Duet Protocol, also known as Duet, is an organization that has developed a synthetic asset protocol of the same name. The protocol can be used to automate the process of yield farming and help users to maximize their returns using cryptocurrency. It is governed by the Duet DAO (decentralized autonomous organization), and the organization behind the protocol was founded in 2021 with its headquarters in Singapore.

Introduction to Duet Protocol

Duet is built on a yield aggregator so the process of yield farming is automated. This allows users to gain returns from their cryptocurrency and releases liquidity to those users as well. It also uses a capital reserve system that releases liquidity to decentralized finance protocols. Duet treats single assets, such as BTC, and receipt tokens, such as WBNB-BUSD LP, as collateral. It then credits users with liquidity in the forms of synthetic stablecoins, dUSD, and other synthetic assets.

Overview of Duet Protocol

The Duet token, called DUET, is on the Binance Smart Chain. It can be used as a governance token and for other utilities, such as a collateral asset for minting synthetic assets.

Duet DAO is the organization that governs the protocol and decisions that are made that will affect both the protocol and those who use it. The DAO is composed of Duet community members who are holders of DUET bonds and other governance tools.