The new home for stablecoins, is Resolv the next Ethena?
Author: shaofaye123, Foresight News
Recently, Fortune magazine reported that Tether is expected to achieve a net profit of over $10 billion by the end of this year. The lucrative profits in the stablecoin sector have attracted widespread attention, and many global banks also hope to join the stablecoin market. Its TVL has grown from $130 billion at the beginning of the year to $200 billion. On December 6, the founder of Ethena mentioned the Resolv protocol, and the Resolv TVL has started to grow rapidly, increasing by nearly 400% in the past 2 weeks, reaching $333 M. What is Resolv? How to acquire its tokens? With the upcoming token launch, this article will give you a quick overview of the Resolv participation opportunities.
What is Resolv?
Resolv is a delta-neutral stablecoin protocol that revolves around the tokenization of a market-neutral investment portfolio. The delta-neutral strategy aims to minimize the risk brought by the price fluctuations of the underlying assets. In the delta-neutral investment portfolio, investors balance the price change risk by combining multiple offsetting positions, mainly using financial derivatives (such as options or perpetual contracts). This is similar to Ethena, whose products mainly generate stable returns through the funding rate of short positions, and a small portion of profits are obtained through yield-bearing assets such as re-pledging. The profits of the liquidity pool are divided into three parts, distributed once every 24 hours, including the basic reward - distributed to the holders of stUSR and RLP; the risk premium - only for RLP; and the protocol fee - transferred to the protocol treasury.
Resolv includes three tokens, in addition to the project's own governance token RESOLV, there are also two tokens called USR and RLP.
- USR - is a stablecoin fully collateralized by ETH, pegged to $1. Users can mint and redeem the liquid collateral at a 1:1 ratio, and earn yields by staking USR.
- RLP - is its scalable insurance layer, aiming to protect USR from market risks, and the value of RLP dynamically changes based on the protocol's profits and losses. In exchange, RLP users will receive a higher proportion of the profits from the collateral pool, but also need to bear the losses.
Through this, Resolv has effectively differentiated investors with different risk preferences.
The distribution of Resolv's project funds is clear and transparent. Currently, about 61.5% are on-chain, 27.2% of the funds are in a neutral institution, and 10.5% are in the popular exchange Hyperliquid. It also plans to launch HyperEVM, which is expected to become a top-tier stablecoin project on it.
Airdrop Guide
Its revenue can be divided into two parts: daily revenue and points.
Daily Revenue
The daily revenue differs depending on the tokens held:
- Low-risk conservative investment preference: by staking the stablecoin USR, the annualized yield in the past 7 days is around 10.12%.
- High-risk aggressive investment preference: by purchasing the RLP token, the annualized yield in the past 7 days is around 31.27%.
Points Acquisition and Bonus
The current main ways to acquire Resolv points are by purchasing USR and RLP. In addition, participating in other activities can also earn corresponding points, and enjoy point bonuses.
According to the official rules, the current upper limit of the point bonus is around 165%.
- The default point bonus for the 4th period activity is 50%. The current activity is in the 4th period, with less than a week left before it ends.
- New users can get a 20% point bonus by using the referral link. The referrer can get 10% of the total points of the referred person.
- Hyperliquid users can get a 10% point bonus. Only deposit and withdrawal operations are required, without the need to trade on the platform.
- Dinero users can get a 10% point bonus. You need to stake ETH on that platform to get pxETH, and the pxETH needs to be in your wallet to get the bonus.
- Different levels of point bonuses are obtained based on the number of activities completed. 50% point bonus for completing 7 or more activities; 25% point bonus for 5 or more activities; 10% point bonus for 3 or more activities. The official website provides more than 10 activity participation methods.
- Purchasing NFTs can get a 25% point bonus. For large-capital players, buying NFTs is relatively more worthwhile. There are 1,200 NFTs. (Initially Free Mint) The current floor price is around 0.56 ETH, and the highest floor price has reached 0.79 ETH, an increase of over 20 times.
The maximum activity bonus of 50% requires participation in at least 7 activities, and the following simple and low-risk types are recommended: (Note: If your capital is small, you can choose on-chain activities on BASE to save Gas.)
- Hold USR on ETH;
- Hold USR on BASE;
- Stake USR on the Ethereum mainnet;
- Purchase RLP on the Ethereum mainnet;
- Purchase RLP on BASE;
- Provide liquidity on Pendle;
- Provide liquidity on Aerodrome.
