In early March this year, Techemynt began a partnership with decentralised forex protocol and AMM exchange DFX. The USDC/NZDS trading pair on DFX has been a key entry point for opening NZDS to web3 users. DFX is optimised for stablecoin trading.
DFX’s mission is to bring liquidity and volume for fiat-backed stablecoins globally. DFX users offering NZDS Liquidity have also been offered healthy rewards as part of DFX’s liquidity incentive program.

In May, Techemynt launched a new partnership with decentralised forex protocol and synthetic asset platform Jarvis. As part of the launch, a new pool featuring Techemynt’s 1-for-1 backed stablecoin NZDS and Jarvis’s synthetic jNZD. The pool will go by the ‘2nzd’ moniker and LP tokens of the pool will also be known as 2nzd tokens and will be stakeable on other platforms. 2nzd is inherently yield-bearing as well.

Benefits from the deal include:

• It will offer NZDS exposure to the massive DeFi communities using Curve and Jarvis
• It will create new Yield-bearing opportunities for NZDS users
• Open New Zealand Dollar digital stablecoins (NZDS, jNZD and 2nzd) to launch on lending & borrowing markets such as Market.xyz

As part of the partnership with Jarvis, NZDS launched its first official pool on Curve Finance. Curve is the 2nd largest decentralised exchange in crypto behind Uniswap, with over US$4.5 billion worth of TVL locked into it. It is the go-to exchange for trading like-for-like digital asset pairs.

It offers tremendously low slippage for trading between assets that are similarly priced, so the swapping between jNZD and NZDS is near perfect. Curve’s constant product formula is different from other AMMs, allowing it to support lower slippage at a wider range of liquidity ratios.

Additionally, because NZDS are tradeable with USDC on DFX and jNZDS is minted using USDC collateral, moving assets smoothly between Jarvis and DFX to access different yield opportunities offered by the two platforms, will be cheap, fast, and have minimal slippage.

Dasset, a local exchange partner of Techemynt, hosted Techemynt CEO Fran Strajnar. Fran explained some of the benefits and advantages of NZDS for Kiwi users.

The VOD of the seminar can be viewed here!

The NZDS-NZD pair on Dasset offers the cleanest most efficient way to go from NZDS to fiat, which can be viewed here.

Metalend Finance, a decentralised, open-source, lending protocol on Ethereum added NZDS to its list of assets in April! Techemynt is supporting Metalend in its mission to assist extra native currencies aside from USD-denominated currencies on its platform.

NZDS has integrated a market-leading yield aggregation platform – Harvest Finance. Harvest offers users a convenient way to farm new token projects, with liquidity incentive programs.

Harvest auto-compounds and users can deposit the LP tokens they receive for depositing in Harvest back into the platform to earn the platform’s native governance token FARM.

There is currently just over US$110,000 locked into the Harvest 2nzd vault. It offers a 29.5% yield to depositors.

Additional to Harvest, an NZDS pool has just been deployed on Beefy Finance, a decentralised, multi-chain yield optimiser platform. It auto compounds yield for users who deposit their LP tokens. An excellent quality-of-life tool for DeFi users managing multiple yield revenue streams.

On June 3rd, NZDS was the latest asset to be added to the emerging DeFi protocol DeFi Basket. DeFi basket is designed to make it easy to create and manage a crypto portfolio. In a single transaction, users can create or invest in portfolios that offer exposure to multiple assets across the DeFi space.

DeFi Basket is unique from other products in the space because it allows portfolios with yield-bearing assets to be included in the portfolio. This means it’s not just NZDS that is included on the platform, but also 2nzd, the yield-bearing LP token that represents shared ownership of the NZDS/jNZD pool on Curve.

If a user wants to include 2nzd in their portfolio, DeFi Basket will first purchase NZDS and then deposit it into the Curve pool to earn LP rewards.

Additionally, DeFi Basket can tap into aggregators and Compounders like Harvest, allowing an extra layer of yield and piggybacking.

An example of a portfolio already launched on DeFiBasket that already contains NZDS is portfolio #412. If a user deposits USDC into portfolio #412, they gain exposure to 5 yield-bearing LP tokens — jNZD/NZDS, jCAD/CADC, jSGD/XSGD, jJPY/JPYC, and agEUR/jEUR.