25/ ๐ Third prize in the Finance & Payments Track goes to @surfer_fi, a DeFi protocol that provides yield trading and fixed-rate options for various Solana-based assets.
https://t.co/Vp1p0rCMYJ
Introducing first: Demo Day winner @surfer_fi
Surfer finance has built a trading platform offering fixed rate products and the ability to buy and sell yield on popular defi assets, including LSTs, borrow/lend, liquidity provision and RWAs.
DeFi enjoyooors unite!
๐DEMO DAY WINNERS๐
๐ฅ@Surfer_Fi
๐ฅ@moonboi & @OneMoonGate
๐ฅ@HQNFTs & @Fidesiumapp
With one narrow winner and multiple ties for the podium... one thing is clear: The UK came in strong๐ฌ๐ง
Let's unpack๐
@SuperteamUK@MooNBoi@OneMoonGate@HqnfTs@Fidesiumapp@solana@SuperteamDAO@MoonBoiUniverse OMFG I'm totally blown away by this๐ฅน
The quality of projects on Monday was incredibly high. So many great apps and presentations, I didn't dare dream of a runner up slot. Thank you ๐
Huge congratulations to everyone who entered, STUK setting the bar high!
The fixed income market, a $128 trillion behemoth in the tradfi world, remains untapped on Solana.
Our mission: unleash fixed income on Solana by
- Creating unique financial products
- Unleashing new trading possibilities.
- Injecting liquidity into Solana tokens
๐โโ๏ธ lets ride
This RLB-SOL pool on @Kamino_Finance is a great example of how unpredictable yields can be in Defi
As the trading volume spikes, so does the APY.
But when interest drops, so do returns.
What if you could lock in your 80% APY when yields are high?
This RLB-SOL pool on @Kamino_Finance is a great example of how unpredictable yields can be in Defi
As the trading volume spikes, so does the APY.
But when interest drops, so do returns.
What if you could lock in your 80% APY when yields are high?
Before maturity, 1 PT + 1 YT is the same price as the underlying asset
This means buying PT costs less than the principal. Discounted assets FTW!
Buy at a 7% discount with 3 mos to maturity?
That's a sweet 30.1% fixed APY, claimable in just 90 days ๐
People love the peace of mind fixed yield offers.
๐ฆ That's why fixed savings accounts are popular
๐ฐ That's why Coinbase EARN offers 5% on SOL staking when the true APY is 8%
๐ค Imagine if you could secure a great fixed rate on any yield bearing tokens on Solana?
Surfer finance allows you to split yield bearing assets like jitoSOL into
๐ฆ A Yield Token (YT) : the APY your assets receive until maturity
๐ A Principal Token (PT) : the underlying assets themselves
On maturity, the PT can be redeemed for the original assets, less any yield
Since:
- Your PT-mSOL is always worth an exact amount of SOL on maturity
- And the price you paid is fixed
Your 8.10% yield is fixed too!
No matter whether validator commissions go up, network performance falls or token inflation slows, you still get exactly 8.1% return in SOL
So if traders buy more yield exposure, the price of PT falls.
The difference - or discount - between 1 PT-mSOL and 1 SOL can be calculated as an APY.
If you could buy 1 PT-mSOL for 0.925 SOL with 1yr to expiry:
Your discount is 7.5%
The fixed APY you buy is therefore 8.10%