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Fyde & Nektar Partnership

Published on May 1, 2024 · Reading time 4 minutes · Created by Fyde Labs

Double Points: Fyde partners with Nektar to bring Diva’s LST divETH into its Liquid Vault.

Fyde is excited to introduce divETH. This integration boosts the strength and diversification of Liquid Staking Token (LST) assets held in our Liquid Vault!

Nektar, the marketplace for decentralized trust, is building a suite of products including the Nektar Restaking Protocol, enabling stakers to restake Diva’s LST and ETH natively.

divETH is the Liquid Staking Token for Diva, an Ethereum Liquid Staking Protocol powered by Distributed Validator Technology (DVT). It is currently in the pre-launch phase.

Through a unique referral code (see below), users can deposit ETH into Fyde’s Liquid Vault. These ETH deposits will be converted to divETH once Diva is live.

About Fyde:

Earn more. Risk less. Fyde is an AI-driven portfolio management and liquidity optimizer.

  • Team: Building since 2022 with experiences from NASA, JP Morgan, Bloomberg, Wintermute, Synthetix, Stanford, and more.
  • Traction: Live on ETH mainnet with 25+ crypto protocols onboarded. Live on Base in a few months.

Explore the Fyde AI-managed vault and optimized LRT points aggregator at fyde.fi.

Double Points?

All deposits of ETH/WETH staked using Nektar’s referral code: yCpHelLhdD or link: https://app.fyde.fi/?referral=yCpHelLhdD&referrer=0x1337eF90A19990D430A452fF83553FB8E4151213 will accrue both Nektar Drops and Fyde points. Both Nektar and Fyde grow in Total Value Locked (TVL) from the ETH received as the divETH tokens will remain within the Fyde Treasury Protocol, providing ETH staking rewards to Fyde’s users.

How do I deposit?

Deposit ETH into Fyde and stake TRSY with the Nektar Initiative referral code for Nektar and Fyde points.

  1. Visit app.fyde.fi.
  2. Deposit ETH/WETH in Fyde’s Liquid Vault and receive TRSY (no lock-ups).
  3. Stake TRSY and enter Nektar Initiative referral code: yCpHelLhdD.
  4. All ETH deposits staked with the referral code automatically accrue Nektar points.
  5. All TRSY stakers accrue additional Fyde points. Depositors must maintain deposits until FYDE Token Generation Event (TGE) to ensure maximum airdrop.
  6. Depositors can burn TRSY and withdraw assets of choice anytime (including divETH once live). Withdrawals will be subject to Fyde protocol fees.

Points

Nektar has some major developments underway which will be announced in the coming weeks. Check your earned Nektar Drop points on https://www.app.fuul.xyz/points/nektar. Nektar Drops will be distributed at the end of Epoch 1 (i.e., June 1) based on the amount of ETH deposited and TRSY staked. Fyde points are calculated by the deposit size multiplied by the length of the deposit. To obtain the maximum deposit size multiplier, the value needs to be $10k+ at the time of deposit.

FAQs

How does the price of TRSY compare with the price of ETH?

  • Historically, TRSY has outperformed ETH with lower volatility. TRSY is backed by all of the assets within the Liquid Vault, and its performance is based on broad market conditions.
  • See the full list of assets backing TRSY here: https://app.fyde.fi/.

Is my deposit locked once staked?

  • No, deposits can be unstaked and withdrawn at any time.
  • FYDE and Nektar points will remain after any withdrawal.

Can I generate a double points referral code?

  • Sub-referral codes can be created automatically by anyone who deposits and stakes 500 TRSY+. These stack perpetually under each other. All deposits linking to the Nektar master code will be converted into divETH.
  • Points from sub-referral code users will accrue to the sub-referrer and the master (Nektar).

Importantly, you need to use yCpHelLhdD first to ensure those who use your referral code are eligible for double points.

When will divETH be live?

When will the FYDE token be live?

  • Q2 2024.

When will the deposited ETH be converted to divETH?

  • The conversion into divETH will take place once the Fyde Treasury Protocol is able to price it correctly. This will occur once a divETH Uni V3 pool has been opened and divETH has been trading for 7 days with at least $100k of liquidity. We expect this to occur within the first month after divETH launch.