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Top DeFi platforms of 2021: Live and On-Demand

Top DeFi platforms of 2021: Live and On-Demand


Just like the streaming service industry, the DeFi sector is full of great projects that provide a unique experience to its clients. The only drawback is that each of them has a specific niche to satisfy. For example, Gimmer offers user-friendly algorithmic trading bots that require no programming skills or even trading experience; Compound provides instant loans that repay themselves over time; KAVA, in turn, gives the option to earn rewards on available and idle account balances that otherwise stay unchanged.

All in one 

Now, imagine a platform that would combine all of these services in one place. Without any doubt, it would bring great value to multiple communities of users and most surely save their time on searching for a reliable counterparty. So, the question should be asked, why no one has thought of this so far? Actually, one platform did. Nimbus, a DAO-governed ecosystem of dApps that offers 16 earning strategies for users, has spotted such an opportunity and “brought it to life”.

Before going any further it is worth getting acquainted with Nimbus´philosophy to enable understanding of the teams intentions. First thing first, it should be noted that Nimbus went from a crowdfunding phase, where they implemented VC, to a full DeFi stack. Thus, now the team is developing different o push the innovation of multi-chain and cross-chain solutions.

Currently, Nimbus offers services like staking, swapping and lending of digital assets. In the future they will allow users to participate in startup crowdfunding and even IPO. In the near term, the team expects to integrate with 3rd party dApps, whereas in the long term to merge the best of Traditional Finance with the best of DeFi in one spot. 

Ok, sounds promising, but let’s dig deep into each of the functionalities that the Nimbus platform offers.

 

 

Nimbus platform includes swap engine functions where different cryptocurrencies can be exchanged from ETH and BNB based tokens to NBU and GNBU tokens and vice-versa. Unlike on Uniswap, each swap on the Nimbus Internal swap generates rewards for Nimbus governance token holders, liquidity providers, referral program participants, etc. At the same time, different liquidity pools and pairs can also be formed. 

 

 

Together with internal Swap, the Nimbus team will soon launch a P2P exchange that enables users to exchange tokens on their own terms directly with other users. Besides solving the lack of liquidity issue, which DEXs are usually famous for, Nimbus P2P exchange offers full anonymity to its users. Additionally, unlike on DEXs or CEXs, users can exchange tokens on their own conditions: without slippage and transaction fees. Overall, no single soul will be able to compromise the security since the Nimbus smart contracts will take over the role of the escrow agent in the Exchange, while both sides can stay anonymous. Finally, there are no extra transaction fees 🙂

 

 

Starting with the staking mechanism, Nimbus offers Soft and Hard Stacking alternatives. According to the company, in both cases, users can work with NBU (utility token of the Nimbus platform) and GNBU (governance token of the Nimbus platform). The main difference between Soft and Hard Staking are in the ways users withdraw the stacked tokens and the reward levels they receive. It is worth noting that until July 9 Nimbus offers special Staking APY for all the users up to 80%. Learn more about it here.

KAVA, on the other hand, offers only a 2.21% staking reward for delegation and 2.4% staking rewards to validator nodes. The staking mechanism is conducted by validators who act as nodes for the validation of the blockchain. A major drawback is that only the top 100 validator nodes receive staking rewards on KAVA.

 

  • Borrowing and lending dApp

 

Talking about Nimbus Lending-Borrowing dApp, the platform provides multiple lending and borrowing tiers based on the risk-adjusted criteria. So, kinda Uber of the DeFi lending sector. Soon, users will be able to choose between multiple pool types including P2P pool, Subordinated pool, and Consolidated pool. All three systems work on strategies that leverage the best practices of P2P lending systems as well as those of digital asset risk management.

In the case of Compound, it was the first platform to launch an algorithmic money market. Currently, Compound supports the borrowing and lending of a specific set of cryptocurrencies, including Dai (DAI), Ether (ETH), USD Coin (USDC), Ox (ZRX), Tether (USDT), Wrapped BTC (WBTC), Basic Attention Token (BAT), Augur (REP), and Sai (SAI). Just like Nimbus Lending dApp, it allows anyone with crypto to lend and borrow crypto immediately, without having to spend the time, effort, and cost of dealing with a traditional financial intermediary.

 

 

In the case of the Crypto Arbitrage-Trading bot, besides an attractive rewards system, Nimbus’s dApp allows to better mitigate trade risk compared to traditional ways and leverage all the assets inserted in the pool together, and not separately as it was before. It should be highlighted that the Nimbus Сrypto Arbitrage-Trading bot has already been deployed to 50,000 users.

On the other hand, Gimmer simply connects customers to the crypto exchange and then uses algorithmic trading bots to make the trades. Just like in the case of Nimbus, the Gimmer platform eliminates the need to constantly monitor trades and doesn’t require users to program the bots by themselves. Another cool feature is that users can also run backtests using historical data in addition to testing strategies on the platform in simulator mode. 

According to Nimbus communications, the company also is planning leveraged trading on its own Swap as part of the Crypto-trading suite of products. 

 

  •  Current and Future Dapp pipeline

 

Nimbus is planning a few different Dapps, according to company’s communication. There is an Islamic DeFi Dapps that’s under development, plus a few ESG initiatives, including ETH and BTC Carbon-Off-Set for miners and holders. 

Final thoughts…

So, does it mean that Nimbus simply combined all the great inventions of the DeFi industry? No. First, they took the raw ideas, added a bunch of new features and extensions to create brand-new earning strategies for users. The fact that all of these features are in one place creates unprecedented synergies for all stakeholders. As an example, users could provide liquidity, say ETH and NBU, to Nimbus DEX and then use their LP tokens as collateral to borrow ETH again – and leverage it again. This model functions as a force-multiplier (in this case, asset-multiplier) for users’ assets and let them benefit from several rounds of putting those assets to work. Or liquidity providers can put their LP tokens in staking at 100% APY. There are other examples of synergies, too. 

Secondly, Nimbus company plans to create a unique tool that allows people to buy shares on IPOs with their crypto assets, regardless of the number of tokens — according to the company, this functionality can be extended across the spectrum of equities, and not IPOs alone in the future. 

Finally, it is worth adding that Nimbus has recently become a cross-chain platform, after integrating to Binance Smart Chain, and its BEP-20 NBU token has already been listed on Pancake. So the company’s technology not only uses multi-chain, and on-chair governance rules; it’s a cross-chain solution — which makes the company and its tech pioneers in the DeFi, and Fintech as a whole. 

 In conclusion, the Nimbus platform has great potential and there is no doubt that with time it will become one of the key players in the DeFi industry. 

If you want to learn more about Nimbus, here is a link to their Medium 





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