Nebulas announces cross-chain assets and decentralized exchange
While the year 2020 has been quite historical, one of the most profound changes to the global economy has been the inception and utilization of Decentralized Finance via Distributed Ledger Technology – also known as Blockchain.
On the surface, the Nebulas Blockchain may appear to offer ‘just another alt-coin’, but since 2017, Nebulas has proven to be so much more! From its inception, the purpose of Nebulas has been clear, “Let everyone benefit fairly from decentralized collaboration.”
Nebulas have already designed a scalable, high-efficiency blockchain supporting easy to develop smart contracts, a community collaboration platform, it’s own novel consensus mechanism and even an autonomous governance committee.
Not surprisingly, DeFi is the next forte for Nebulas, and in fact, Nebulas has already developed two unique products:
Link.nextDAO – connecting Ethereum and Nebulas
Since the creation of Bitcoin, and projects proceeding it, there has existed a troublesome problem where assets can become “locked” on a single network, thereby causing unsustainable high fees, slow transaction times and even uncertainty of the code. Needless to say, this leads to poor user experience and further roadblocks to global adoption.
Link.nextDAO aims to solve this problem by creating an interoperable ecosystem that connects Ethereum to Nebulas and vice versa. By allowing for seamless asset utilization on Nebulas’ blockchain, the result will be reduced fees and improved user experience for those feeling stuck on Ethereum. Moreover, this new cross-chain link complements the Ethereum network and its integrity.
Initially, Nebulas’ cross-chain system will allow for USDT (ERC20 Tether) to be used and stored on Nebulas as an equivalent NRC20 (Nebulas-based fungible token) nUSDT token, and it will be used within the entire ecosystem. In the near future, additional assets such as ETH and NAS will be interoperable within both blockchains and the global Nebulas community. In fact, this is just the beginning – powered by Nebulas’ community and governance committee, additional assets can be added in the future!
Swap.nextDAO – improving upon decentralized exchanges
With decentralized exchanges continuously reaching new highs while also experiencing unsustainable demands, the foundations of many exchanges are crumbling.
To combat this issue, some blockchains are developing their own decentralized ecosystems, and in fact, one of the most recent entries has been Nebulas’ Swap.nextDAO platform.
While Nebulas’ Swap.nextDAO platform promises cross-chain asset compatibility, it’s powered by a unique version of a Uniswap-like Automated Market Maker.
To further entice users, Nebulas has designed a potentially very lucrative incentive mechanism for those willing to supply liquidity; by offering different tiers for different asset pairs, thousands of $NAS (Nebulas’ native asset) are up for grabs each month!
It’s clear that while DeFi is still in its infancy, projects like Nebulas allow cryptocurrency users more freedom and flexibility, and as a result, DeFi will surely thrive in the blockchain marketplace.
Be sure to try out Nebulas’ DeFi products today to receive free cross-chain asset transfers (sub tx fees) via Link.nextDAO.io and a chance to receive larger incentives for early Liquidity Providers on Swap.nextDAO.io.
Disclaimer: This is a paid post and should not be considered as news/advice.