Earn 1,315% on Fiat Dao by Defi Dad
Before we get started, DeFi Dad disclosed that his team 4RC did invest in the FIATDAO seed round. This is not a recommendation or endorsement to buy FDT, but it is intended to disclose any bias he might have in talking about FIATDAO’s liquidity mining program for FDT.
In the legacy financial system, fixed income is the largest sector with an estimated $120 trillion in assets. In DeFi, countless protocols such as BarnBridge, Element, Notional, and Pendle have already launched to emulate these fixed income assets and mechanisms. Previously, I’ve written about familiar variable rate lending markets such as Aave or Compound which have become widely accepted in DeFi. However, fixed rate protocols have yet to gain real product-market fit despite all the innovations of these new DeFi protocols.
The lagging traction for such DeFi offerings is the inability to leverage these positions earning fixed yield. In the legacy world, fixed income assets enjoy copious amounts of leverage, which is believed to be the missing link in DeFi. In light of this, FIAT Protocol is being built to let you “borrow against your positions in fixed income assets issued by leading DeFi protocols, at high loan-to-value ratios and for low fees.” FIAT is an acronym for Fixed Income Asset Token because FIAT will be backed by fixed income assets issued by other DeFi protocols. FIAT is not a stablecoin and I’ll explain why below.
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