We are delighted to unveil a monumental stride in the world of DeFi, one that holds the potential to catalyze transformative change: Mento Labs and Double have forged an alliance, with Mento Labs stepping in as a capital provider. This strategic partnership is underpinned by a shared commitment to drive innovation, cultivate growth, and pioneer opportunities.
Mento Labs’ Visionary Leap
With great excitement, we announce Mento Labs’ momentous decision to join hands with Double as a dynamic capital provider. Mento Labs, renowned for its unwavering dedication to shaping the future of digital assets, is setting a new precedent by channeling its visionary prowess into this partnership. This move exemplifies a steadfast commitment to empower and reshape the landscape of decentralized finance.
Impact Market’s PACT Coin Takes Center Stage
In a move that embodies the spirit of innovation, Mento Labs has chosen to embark on this partnership journey by focusing on Impact Market’s PACT coin initially. Double Protocol offers a unique opportunity for capital providers to efficiently use their capital and double their returns by supporting token projects. In this set up Mento Labs has chosen to partner and support Impact Markets PACT token. Impact Market perfectly aligns with Mento Labs’ values of positive impact and sustainability.
How Double Works
Double provisions liquidity through the pairing of token projects with capital suppliers. In this situation Mento is providing the Capital token and Impact Market is depositing an equal amount of tokens into Double’s Token Vault to support Mento’s position. When Mento creates a position in Double they are then borrowing those tokens from Double’s Token Vault and have their ownership in a 100% capital position. Mento benefits from this deal by earning both fee rewards and DDJ tokens. They also are keeping their investment entirely in either stable coins cUSD, or L1 infrastructure (Celo) Tokens which de-risks impermanent loss. Since Mento is borrowing 50% of the position, this also frees up 50% of the capital to essentially “double-down” on their position and gain more exposure. Impact Market doesn’t make any fee rewards from Mento’s position, but they benefit by increasing the liquidity of their token without having to spend money on a market maker or use their own capital which could be better allocated for business expenses; a very important aspect of any successful token project.
Transparency, Trust, and Transformation
At the heart of our partnership lies an unwavering commitment to transparency, trust, and transformation. These shared values serve as the foundation upon which our collaboration is built, inspiring us to push boundaries, challenge norms, and drive the digital economy toward an era of inclusivity and sustainability. What’s important to Mento is gaining a deeper understanding of how the ecosystem operates. Any fees earned by Mento Labs during this partnership will be directed towards supporting Impact Market, in line with values of positive impact and sustainability.
Together, we aim to master liquidity creation for future stable assets using Double’s capabilities.
A Journey of Discovery
As we journey forward, we encourage you to be an integral part of our narrative. Stay connected with us through our dedicated communication channels as we unveil exciting updates, milestones, and innovations. Together, we are poised to reshape the future and pioneer avenues that pave the way for unprecedented progress.
We extend our heartfelt gratitude for your unwavering support and enthusiasm. This partnership between Mento Labs and Double holds immense promise, and we can’t wait to witness the transformative impact it will undoubtedly achieve. Here’s to a future of innovation, empowerment, and meaningful change.
