Numo
Numo is an onchain repo market for tokenized treasuries for which traders can borrow at a fixed rate against in FX stablecoins. This is a first step to building an onchain fixed income markets for global FX.
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Descripción
There has been a surge of non-USD stablecoins such as MXNB and VCHF on Arbitrum. But stablecoins are incomplete financial assets. They require a yield curve for them to be useful to the global FX market. To create this yield curve, Numo has built an onchain repo market where traders can borrow non-USD stablecoins against tokenized US treasuries for a fixed rate and fixed term.
Progreso del hackathon
I fully deployed the Numo smart contracts with fixed rate borrowing and lending on USDC, MXNB, and VCHF. A first step to building a yield curve on FX stablecoins that matches real world fixed income markets.
Estado de recaudación de fondos
No funds raised. Completely bootstrapped.