Who likes to be fucked?
We are upset against traditional finance. Instead of feeling empowered by money to unlock our most basic rights, we often feel fucked. Bob feels fucked by the hassle of opening a bank account, fucked by the terms and conditions in fine print, fucked by the hidden commissions and nicely fucked by the banker’s handshake. But, yeah, you need it. Sign. Smile.
Then, a new technology comes along and brings hope. The internet has improved our lives in the past few decades. We believe Web3 will improve the next ones and bring more power into the hands of our community. Anyone with an internet connection and a wallet can access this new world transparently, no matter the country, race, income, or beliefs. All the code is open source. There is an unbiased way to check that the game is fair. We are not fools, we know mum is not going to read any single line of code. But our community is strong and will do. If you try to fuck people around, you will not last long.
Decentralized applications are wonderful. Code is law. No one can tamper with them. Not even our government. Do we fully realize how powerful our new paradigm is? Even if an “elite” group wants to keep their monopoly and fight this new wave, they will be powerless. If we want to use the new products we love, no one can stop us. We cannot wait for governments to bring their accounting ledgers on the blockchain. We cannot wait for the first decentralized bank. Would we have more trust in our system if we could trace our money and the spending of our state paid by our taxes?
With web3 new concepts have emerged, like empowering our businesses and distributing incomes more fairly. How many of us got fascinated trying to understand how web3 works through our decentralized autonomous organizations (DAOs)? Well if you haven’t yet, you probably should! Tokens are distributed to the ones who participate in the protocol, a.k.a you are sharing profits and have voting rights on the future of your product. Sick. See it as if Alice, your producer of tomatoes, was given Walmart shares when bringing her stock to the warehouse. Walmart’s profits would also be shared with Alice. Oh wait. That’s not happening. Smile.
We love DeFi. We want to contribute to this wave of innovation and improve our society. Contango is here to bring expirable futures to DeFi. These instruments have existed since the 17th century to help Alice fix today the price of the tomatoes she will harvest and sell in 6 months. Alice is happy. She can control her costs and remove some uncertainty from her business. Nice. We are here for you, Bob, Alice, Mum, to help you embrace our new world.
Join us at contango.exchange!
About Contango
Contango is the first DeFi market offering expirables: contracts to buy or sell assets at a set price and date in the future. Contango achieves that without order books or liquidity pools. When a trader opens a position, the protocol borrows on the fixed-rate market, swaps on the spot market, then lends back on the fixed-rate market. Contango offers physical delivery and a minimal price impact for larger trades. Join us at contango.xyz.
