DUO Network Token (DUO) is a decentralized platform that facilitates the issuance, trading, and settlement of tokenized digital derivatives. It primarily comprises Collateralized Autonomous Tokens (CAT), Price Oracle, CAT Exchange, and DUO Network Token. DUO Network Token aims to mitigate risks and barriers in traditional derivative transactions by utilizing collateralized smart contracts and distributed price feeds. This approach seeks to create a transparent and autonomous derivative marketplace. The platform is designed to help market participants navigate volatile market conditions, a common challenge in the cryptocurrency space.

DUO Network Token operates through a system of Collateralized Autonomous Tokens (CATs), which are backed by digital assets held in a custodian smart contract. CATs can be split into two or more payoff classes, each representing a partial claim of the underlying collateral. They are two-way convertible with corresponding collaterals, meaning they can be created from depositing collaterals into the custodian smart contract or redeemed back into collaterals at any time during their lifecycle. This mechanism enforces the net asset value (NAV) parity between CATs and their underlying collaterals, allowing the market to self-correct any price dislocations. All CATs are ERC-20 compatible, enabling storage and trading across most existing wallets and exchanges.

DUO Network Token provides a variety of CAT products, designed for users with different objectives and risk appetites. Leveraging its innovative Split and Collateral Recycling framework, DUO Network presents dual-class tokens, options, and structured products. Dual-class tokens can benefit from short-term price stability, making them suitable for consumption and transaction utilities of many crypto assets. Options introduce an element of asymmetry to any linear risk exposure, providing a different compensation structure. Structured products suit passive users who wish to express a certain medium to long-term view.

DUO Network Token was developed to address the problems of high volatility, inadequate liquidity, and lack of risk management tools in the current crypto markets. The concept of Collateralized Autonomous Tokens (CATs) was initiated by DUO Network to define a set of standards for the issuance, redemption, and settlement of crypto derivatives. The platform's pioneer Beethoven contract and dual-class token were fully production-ready with TestNet, conducted back in August 2018. As part of the supporting infrastructure, DUO Network also developed a new decentralized platform based on the 0x protocol to facilitate the use of CATs.

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