@CryptoLemon
Swivel Finance introducing fixed rates deposit to Crypto?
Hello HODLers, Today I decided to write about a small project Swivel Finance. Swivel Finance is a project **aiming to tokenize cash-flow and fixed-rate lending service.** Multicoin participated to the $3.5mn raise and was joined by 3 trading desks: GSR Markets, SCC Investments and CMT Digital. Then we found the usual investors such as OKEx Ventures, SevenX Ventures... As mentionned by Decrypt: This may not be an issue for retail investors, after all, gains are gains. But for more buttoned-down outfits, **such variability can pose serious risks for portfolio managers.** As PMs usually have cash obligations from other revenue sources and therefore if APYs can vary so quickly, they would have to have more cash on hands. *Deposit APY on Aave since September 10, 2021. Source: Aave* **But this is already possible on Aave with aETH for example and on many other platforms such as Compound.** **What does Swivel Finance bring to the table?** There are two tokens on Swivel: **nTokens**: traditional yield-bearing token such as aETH **zcTokens**: Locked up token for a predetermined period. As an example zcETH can be redeemed 1:1 for ETH once the period is over. zcETH are therefore trading at a discount (depending on the lenght of the period) **It might look like nothing but it allows traders and institutions to truly** ***lock*** **the interest rate on the asset they selected (it could be a stablecoin ofc).** To the best of my knowledge I do not know fixed rates for Crypto deposits except Binance programs when you can sometime lock a crypto for 30-90 days. But for 6 months? 12 months? nToken would allow classic long and short spot yield rates. The mainnet is expected to be launched in the coming month. **Latest Analysis** A little bit more than 2 weeks until HiveFest ! Will you be there? https://leofinance.io/@vlemon/a-little-bit-more-than-2-weeks-until-hivefest-will-you-be-there Will you literally sell your eye for free WorldCoin? https://leofinance.io/@vlemon/will-you-literally-sell-your-eye-for-free-worldcoin Guess who's back online? Thorchain ! https://leofinance.io/@vlemon/guess-who-s-back-online-thorchain Finding my new CEX Home after Binance KYC spooked me! FTX? https://leofinance.io/@vlemon/finding-my-new-cex-hone-after-binance-kyc-spooked-me-ftx
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