The decentralized finance (DeFi) market has boomed since 2018, when a small group of developers named their ground-breaking financial system based on blockchain technology. Over just the past year, the ecosystem witnessed a growth of more than 400%, with the total value locked on DeFi protocols surging from approximately $20 billion in September 2020 to over $90 billion by September 2021.
Despite this impressive growth, there are still considerable differences between innovative DeFi solutions and existing financial institutions, products and services. The contrast is even more pronounced for tech-naïve newcomers and traditional investors accustomed to established systems. Adding to the problem, the DeFi umbrella is quite large, encompassing numerous strategies such as staking, yield farming, peer-to-peer exchange, liquidity mining, as well as lending and borrowing. Navigating through this DeFi maze can quickly become a herculean task for anyone new to the industry.
Nimbus, a DAO-governed ecosystem of dApps, is working to bridge this technological divide by enabling an easy-to-use, all-in-one DeFi platform. It eliminates the headache of researching different DeFi projects for different product offerings.
Nimbus’ Stable Foundation
Nimbus seeks to build a unique decentralized financial hub that provides full transparency of its services with blockchain technology. A Malta-registered enterprise, it was established in 2019 as a DAO-governed DeFi ecosystem offering a variety of financial functions such as staking, liquidity providing, lending and borrowing as well as a P2P exchange and swapping on Ethereum and Binance Smart Chain. In total, the platform now offers 16 revenue streams with more to come.
Nimbus officially launched its native NBU utility token on January 27, 2021. Since then, it has rapidly built a community of more than 50,000 users, with at least 57,000 wallets connected to the platform including 28,000 active wallets from regions like China, Germany, India, African nations and many more countries.
The NBU is an ERC20 token that can be swapped with other cryptocurrencies, and grants holders access on the Nimbus platform to the 16 earning strategies and GNBU governance token. While the GNBU can also be used for staking, GNBU holders also vote on technical, economic, and key changes on the platform, plus receive a percentage of the revenues generated. It’s important to note that the Nimbus Organization holds only 10% of the governance tokens, ensuring a highly decentralized and self-governed ecosystem.
A third token, the STAN is in development and scheduled to launch soon. STAN will be a stablecoin be backed by the USD in a 1:1 ratio and a multi-asset portfolio.
Nimbus’ Decentralized Applications (dApps)
Nimbus has an extensive lineup of functional decentralized applications, and it plans to expand its dApps platform to include even more products. Nimbus developers intend to offer users many other earning strategies with an arbitrage bot, various loan pools, NFT exchange and carbon tokens.
In addition to staking and providing liquidity, some of the platform’s current and pending offerings include:
Swap Machine: The Nimbus crypto trading dApp has successfully fueled the growth of the platform for over a year. Ethereum and BNB coins are direct exchanged into NBU and GNBU by connecting a cryptocurrency wallet to the platform. Many wallets are accepted, including Metamask, WalletConnect, Coinbase Wallet, Fortmatic, and Portis. This process enables access to all the other products offered on the platform.
Lending and Borrowing dApp: The lending and borrowing product combines traditional lending mechanics with DeFi innovations and employs the best practices in crypto risk management. The dApp provides multiple tiers of lending and borrowing based on the risk-adjusted criteria. Lenders and borrowers are directly matched by location, while users have the freedom to participate in multiple pool types, select between various collateral mechanics, and choose a preferred lending and pay-back option.
IPO Hub dApp: The ingenious IPO Hub will be like a decentralized stock market that allows users to buy shares in IPOs with their digital assets, regardless of their location or investment capital. Users will also be able to immediately access sophisticated evaluation mechanisms and relevant analytics wherever they are, and without paying extra brokerage fees. The IPO dApp is the first stage in Nimbus’ vision to create a one-click access to IPOs for crypto holders across the globe. In the future, Nimbus will allow users to participate in investment products based on FINRA broker-dealer, NFA, and SEC licenses.
Crowdfunding dApp: The Nimbus Crowdfunding dApp promises to offer features that allow any cryptocurrency holder to participate in decentralized start-up crowdfunding. Participants will be able to securely supply equity with smart contracts, with no intermediary extracting fees.
With all it now provides and its future plans, this platform is successfully becoming the premier DeFi hub the Nimbus founders envisioned – and DeFi users need.