DYOR Crypto Wiki
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After great community collaboration DYOR has rebranded into CryptoWiki.me 🥳 a moment to celebrate!

From now on all new information will be added within the CryptoWiki.mecommunity website! No longer over here. So be sure to move over to stay on top of new research developments!

Same content - better & cleaner experience 🤝

DYOR started out in 2015 on Fandom and has now grown to ~3500 pages on CryptoWiki.me 🤩

All the information that you can find in these pages is public knowledge with sources provided. The community is encouraged to add truthful and unbiased entries to further this body of work.

Follow @cryptowiki_me on Twitter to be up to date on pages being created or edited.

Basics

"Notional Finance has come out of stealth with $3M in liquidity following a closed beta over the past quarter. Notional users can lend and borrow the stablecoins DAI and USDC at fixed rates using ETH or WBTC as collateral."

History

"Notional is a new protocol that lets users lend and borrow crypto at fixed rates. After 10 months in stealth, the platform launches in beta on Ethereum today."

Audits & Exploits

  • Bug bounty program can be found here with no clear prize.
  • It was in unaudited beta (30-10-2020).
  • Received a full audit report from Open Zeppelin (13-1-2021).
  • Scored a 79% on DeFi Safety (10-2-2021); "Notional has been audited by OpenZeppelin on December 22nd, 2020. Notional Finance was released October 7th, 2020" With the comment: Lets call it "Fixed" quality right across the board.  Way to go guys."

Bugs/Exploits

  • From Blockthreat (4-2-2022):

"Notional patched a critical double counting bug after it was responsibly disclosed by 0x60511e57 using Immunefi."

"Notional Finance post mortem, verification missed vulnerability due to logic error."

Governance

  • From their docs (10-2020):

"Notional is currently governed by its founding team. The team holds admin keys to the contracts and hosts the user interface. The Notional team is committed to decentralization. We will pursue a strategy of progressive decentralization in which we will give up our admin keys, relinquish control of the protocol, and hand it off to the community."

Admin Keys

DAO

Treasury

"Token holders will have full control over the on-chain treasury"

Token

Launch

Token allocation

Utility

"Token holders will have full control over the on-chain treasury, the protocol’s risk and collateralization parameters, and any smart contract upgrades."

Token Details

  • From their docs (2-2021):

"fCash tokens are the building blocks of the Notional system. fCash are transferable tokens that represent a claim on a positive or negative cash flow at a specific point in the future." fCash are ERC1155 tokens.

Stablecoin

Technology

Implementations

How it works

"Lenders can provide capital with a guaranteed return at specific maturity dates, while borrowers can take out a loan knowing exactly what their interest payment will be. Notional is betting its custom AMM, designed to keep slippage low no matter how far away maturity is."

  • From their docs (2-2021):

"Lenders trade cash for fCash and earn a fixed interest rate. Liquidity providers capitalize Notional’s liquidity pools and earn variable trading fees. Each time a lender lends or a borrower borrows, they pay a transaction fee to liquidity providers in that pool.

Notional liquidity pools are similar to Uniswap pools in that there are buyers, sellers, and liquidity providers that facilitate trading. In the case of Notional, buyers and sellers are lenders and borrowers. Liquidity providers facilitate that lending and borrowing and earn transaction fees as compensation."

Fee Mechanisms

Upgrades

"Notion presents the protocol’s V2 system, which among other things introduces longer-dated maturities."

Staking

Liquidity Mining

Scaling

Interoperability

Other Details

Privacy Method

Compliance

Oracle Method

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

"Roughly 280k Dai was supplied to Notional’s first fixed-interest earning token, called fDai, according to this Tweet."

Projects that use or built on it

Competition

"Projects including UMA, Yield Protocol and Mainframe are also testing the fixed lending market, all with different approaches to ensure tokens will trade at par upon maturity. Larger DeFi protocols like Aave offer fixed borrowing rates but are yet to support fixed lending rates, although this is likely to be a part of Aave V2 in the coming months."

Coin Distribution

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

  • Full team can be found [here].

Funding

"The startup announced Monday a $1.3 million funding round from a total of eight investors, including Coinbase Ventures, 1confirmation and Polychain."

"[Got] support from investors including 1confirmation, IDEO, Parafi, Nascent, Coinbase and Polychain."

Partners 

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