Nereus Finance

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Revision as of 11:14, 1 July 2022 by Define (talk | contribs) (Nereus Finance)
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Nereus is a decentralised, non-custodial liquidity market protocol in which users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers can borrow in an over-collateralised (perpetually) or undercollateralised (one-block liquidity) fashion

Nereus opted to utilise WXT why ?

  • To accelerate the protocol development and bring a functioning product to market quicker.
  • The opportunity to attract the 5m+ Wirex customers already familiar with the currency.
  • To ensure an immediate mechanism in which Nereus protocol users can add or remove collateral between traditional fiat networks and decentralised ones. WXT can be traded independently of Wirex on both decentralised and centralised networks, as well as being integral to the Wirex ecosystem which includes the payment app, Mastercard / Visa card and non-custodial wallet.
  • To co-opt decentralised use cases that already exist for WXT within the Nereus protocol.

Institutional Users

Institutional access to Nereus will possibly be in partnership with Wirex’s ‘Wirex Pro’ product. Wirex Pro will facilitate business onboarding, transaction monitoring and dispute resolution, while Nereus will provide liquidity and protocol access.

As a combined offering, Nereus protocol and Wirex Pro offer several unique features to institutions:

  • Secure institutional access to DeFi protocols (Wirex Pro)
  • Network participants onboarding (KYC/KYB) (Wirex Pro)
  • Variable & fixed yield products (Nereus protocol)
  • Transaction AML screening and ongoing monitoring (Wirex Pro)

How to earn WXT rewards?

  • WXT is the native token within the Nereus protocol. As a mechanism to incentivise participation, WXT rewards will be received by both lenders and borrowers through Bonus APR for Depositing and/or Borrowing assets within the protocol.
  • Rewards may be redeemed immediately for a penalty, or in full after a three-month lock-up. Those wishing to immediately redeem the reward will pay a 75% penalty. This method incentivises users to hold WXT within the protocol with continuous rewards for doing so.

Lock WXT

  • Locking WXT is another mechanism available for receiving rewards. Like Staking WXT, the mechanism of Locking WXT makes you eligible for receiving a proportion of platform fees generated by the protocol, and a proportion of penalty fees paid by the protocol users not willing to wait a 3-month lock-up period.
  • Locked WXT earns protocol revenue fees paid in in-kind fee tokens as well as earns WXT tokens from the penalty fee.