what's Numo?

Numo is a decentralized marketplace enabling cross-border businesses to hedge currency risk through FX forwards at competitive rates. It leverages stablecoins and automated market makers (AMMs) to provide permissionless access to forwards, particularly for emerging market currencies outside G10, acting as a central counterparty to compress rates and lower hedging costs. Technically, Numo prices forwards using zero-coupon bonds (ZCBs), which are ERC-20 tokens maturing to 1:1 with the underlying stablecoin. These are traded in time-dependent AMMs like YieldSpace, where the invariant accounts for maturity to derive discount factors and implied forward rates from interest rate differentials. Users replicate forwards via portfolios of ZCB mints, swaps, and holds, enabling products like fixed-rate borrowing (e.g., KES against USD) directly onchain.