Necc — Inverse perpetuals backed by an interest bearing stablecoin and bonds
TL;DR
- 30x (50x buffered) leverage paid out in the speculated token
- Interest bearing stablecoin minted 1:1 with dynamic rebalancing fees
- Degenerate auto compounding yield and governance token for speculating on future income
- Oracle based no slippage, no price impact trades and swaps
- Transaction gas free on Aurora
- Opensource verifiable DAO collaboration
Problem Statement
DeFi needs crypto native margin, spot and bond markets.
Crypto native in the sense that it deserves unstoppable markets that are self sustaining long term to appeal to a wide range of users.
Necc aims to provide a product suite for each of the above to serve market interests whilst coordinating the prisoner’s dilemma.
There will be winners and losers in each market but they will be our markets to contend in, own and collaborate on to push forward.
At the heart of the Necc protocol is an interest bearing stablecoin ($NDOL — Necc Dollars) to glue the liquidity together, a layer on top of all the collateral pools.
There is no price impact or slippage to mint the stablecoin by providing liquidity to each of these collateral pools.
On top of these collateral pools are inverse perpetuals which aren’t currently available as a DeFi product; a shame as they are truly crypto native.
Arthur Hayes was ahead of his time in creating inverse perpetuals with Bitcoin but now DeFi has arrived so we can make payouts in other tokens.
On the other end, bonds can be purchased to attain vested $NECC — the protocol token in return for locking in liquidity via $NDOL.
Necc DAO
Together we can own our markets and create an experience that appeals to us.
They can be:
- Permissionless
- Cross-chain
- Crypto native
- Deep in liquidity
- Capital efficient
But we need to collaborate, participate and #buidl them!
~ So let’s have fun and Necc till next time!
