Merlot provides straightforward passive-exposure to the greatest yield in crypto markets, the DeFi funding rate basis trade. As an index of many native DeFi products, Merlot offers a yield-optimized diversified basket of the best available basis trade products in the market. Basis trade products have grown significantly in 2024, becoming the most widely adopted real-world asset (RWA) product outside of stablecoins.

Why Merlot and how it works

Merlot is a strong next step for Vino for some of the following reasons:

• Vino offers a complimentary, high yielding (6-100% APY) product alongside $BLEND for more DeFi native users - leading to a all weather initial product suite
• Vino will be the first, or one of the first protocols to offer a optimized and aggregated basis products, especially for those underlying assets that are permissioned
• Higher yielding products allow for interesting products to be built on top of them (structured products)

Merlot will take the form of a “staked” version of $BLEND - meaning, to buy Merlot, you must own $BLEND as it’s the investment and redemption asset. This structure feeds into the advantageous business model for $BLEND being the umbrella deposit asset, for which products and services can be built on top.

Merlot will be live soon following the launch of Vino. More information soon…