Interest Rates Swaps comprise a major pillar of Traditional Finance that has been missing from DeFi until now with Voltz’s launch of the first IRS protocol for DeFi.
LONDON, June 1, 2022 /PRNewswire-PRWeb/ — Voltz Protocol launches DeFi’s first synthetic, capital-efficient interest rate swap (IRS) AMM, providing the framework for DeFi to compete with TradFi’s $1,000T IRS exchanged per annum and unlocking a new realm of possibilities for dapps to serve the financial needs of the world.
Simon Jones, CEO & Co-Founder of Voltz Labs, said, “Without the core pillar of IRS, DeFi won’t be able to serve the financial needs of the world and therefore will never realize its full potential. This is why we’re so excited to bring Voltz Protocol to DeFi, the first synthetic IRS protocol that will unlock a tidal wave of new products for the ecosystem.”
As part of the Alpha launch, Liquidity Providers, such as Wintermute, a leading global algorithmic market maker in digital assets, and Amber Group, a Crypto Firm with unicorn status that caters to both institutional and consumer markets across more than 150 countries, can leverage Voltz Protocol for IRS. Initially, there will be a cap on liquidity that can be provided as an LP of $1.5m margin per pool, though trading will be unlimited. The cap will increase over time until it is lifted entirely for the full public launch. Voltz Protocol will initially launch with Aave and Compound base stablecoin rates and will add many other markets in the coming months, including Lido’s stETH. In fact the protocol is synthetic and generalizable such that pools can be created for any asset with a variable rate of return, acting as a watershed moment for rates trading in DeFi.
Yoann Turpin, Co-Founder & Head of Business Development at Wintermute, shared, “We are very excited to back Voltz, as their contribution to the crypto interest rates market is a key building block for resilient and scalable derivatives markets.”
Voltz Protocol is…
