Published on December 14, 2023 · Reading time 4 minutes · Created by Fyde Labs
We’re excited to announce that Fyde Treasury Protocol is officially joining the Chainlink BUILD program. As part of BUILD, we aim to accelerate the growth of our ecosystem and the long-term adoption of decentralized endowments for crypto treasury management. Fyde aims to lead the path with help of Chainlink’s industry-leading oracle services, first-class technical support, and enhanced incentivized cryptoeconomic security. In exchange, we commit to providing network fees and other benefits to the Chainlink community and service providers, including stakers.
Fyde has been a believer in Chainlink since the inception of our project. Our participation in BUILD aims to enhance our ongoing integration with Chainlink, with added benefits of increased technical support in building and managing highly reliable and customized oracle solutions, as well as early access to beta launches of new Chainlink solutions and support from the Chainlink community.
We’re confident that the cross-ecosystem incentive alignment made possible by the Chainlink BUILD program will further the realization of Fyde’s stated mission of becoming the golden standard in autonomous on-chain treasury management — ultimately helping crypto companies around the world unlock, upgrade, and fully utilize their treasuries.
Fyde Treasury Protocol’s mission is to create diversified liquidity pools that can be accessed via a depositor’s native token, thereby allowing instant exposure to a whitelisted basket of tokens. The protocol enables proxy governance by providing founders and investors the ability to preserve governance rights on deposited assets. These features allow users an easy way to diversify idiosyncratic/concentration risk and optimize operating runway without exposing themselves to governance attacks and related risks.
Users will also be encouraged to trade the liquidity pool token, providing another avenue of payment rails for founders, investors, DAOs, and protocol treasuries. Additionally, ecosystem participants (arbitrageurs, MEV bots, etc.) will be incentivized to trade pool assets across decentralized and centralized exchanges, increasing liquidity for the tokens within the pool. This combination effectively addresses the four pillars of crypto treasury management: diversification, asset liquidity, yield generation, and governance preservation.
Fyde’s founding team draws on a wealth of experience from traditional global financial institutions, Web3, and academia, with members coming from backgrounds such as JP Morgan, Deutsche Bank, and prestigious institutions like Stanford and NASA. The unique blend of crypto-native developers and traditional finance experts positions Fyde to lead in delivering transparent, efficient, and secure treasury management infrastructure for the crypto industry.
Fyde joined BUILD to support the development and management of our on-chain price oracles and to help accelerate the adoption of traditional finance treasury management solutions in a Web3 environment. Benefits include integrations of Chainlink Data Streams and CCIP, collaboration with oracle and data experts, alignment with the engaged Chainlink community, and better access to Chainlink ecosystem resources.
As part of our commitment to the BUILD program, Fyde plans to allot 3% of Fyde’s future native token supply to reward Chainlink service providers, including Chainlink stakers, over time. These economic incentives enable Fyde to fully realize the benefits that the Chainlink ecosystem offers.
“We are more than excited to collaborate with Chainlink, join the BUILD program and receive support in building and managing crypto treasury management infrastructure — a crucial component in our mission of providing transparent, unbiased data on-chain and in real-time. We’re thrilled to contribute our expertise and function as the one-stop, on-chain treasury management solution for the crypto industry.” — Andrey Stejko, CTO
Chainlink is the industry-standard Web3 services platform and has enabled trillions of dollars in transaction volume across DeFi, on-chain finance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain, providing global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
Fyde Treasury Protocol introduces a solution that addresses the four pillars of cryptocurrency treasury management: diversification, asset liquidity, yield generation, and governance. Users can deposit over a hundred whitelisted tokens into a diversified pool of assets while retaining governance rights over their allocations. Fyde Treasury systematically accumulates ETH, RWA, and stablecoins, providing growth exposure through ERC-20 token allocations.
Learn more about Fyde Treasury by visiting fyde.fi or reading our Medium blog at medium.com/FydeTreasury.