Solana DeFi yield layer project NX Finance will start IDO on September 2

Original author: NX Finance

TL;DR

· NX Finance will start the IDO whitelist round on September 2, and the IDO public round from September 3 to 6, financing 20% with a FDV of 20M, and the circulating market value is only 4M

· As the yield layer of high-quality assets in the Solana ecosystem, NX Finance has achieved the fastest growth in the TVL of the Solana ecosystem protocol in the past month with the access of JLP and vSOL assets alone. The current TVL has reached 18M;

· As a DeFi yield layer protocol, NX mainly targets perpdex Lp assets and Solana LST/LRT NX Finance is actively expanding its ecological network, allowing users to access the income of various high-quality assets in the Solana ecosystem on NX Finance, and becoming an indispensable "shovel-type" application for every Solana DeFi player, just like Pendle in the Restaking wave of Ethereum.

What is NX Finance

In a word, NX Finance is a yield layer built on top of the high-quality assets of the Solana DeFi ecosystem. By matching funds to high-risk preference users to leverage asset income, it solves actual needs to provide 10%-15% stablecoin deposit income.

NX Finance was born to meet the actual needs of the market. In Solana, the massive increase in Perpdex LP-type income assets and the adoption of PointsFi in new liquidity (re)pledge products have become the main trends in the Solana DeFi ecosystem.

For Perpdex LP-type assets, in the P2Pool model, LP can be regarded as an index fund composed of component tokens, and is a counterparty to platform traders. Since the component tokens are usually mainstream blue-chip tokens, Perpdex LP can capture the market's beta very well in the upcycle, and according to the law of large numbers, the probability of traders losing money is greater than 50%, so Perpdex LP is the highest quality DeFi asset in the upcycle. NX Finance uses the Falcum strategy to help high-risk preference users match funds to leverage returns, and continues to provide more than 10% stable asset deposit rates to low-risk preference users.

The restaking narrative is growing rapidly in the Solana ecosystem, with Binance Labs announcing an investment in Solana’s restaking protocol Solayer, and jito, the largest staking infrastructure service provider, also opening up its own restaking framework. For assets such as Solana LST/LRT, in addition to their intrinsic annualized yields, many users are more concerned about the project points they can get by holding these assets, as most of these projects have not yet issued tokens and are currently in the points distribution stage. NX Finance has launched the Gold Mining strategy, which aims to help users who prefer points to leverage their assets, obtain multiple project points with the same amount of assets, and provide another source of income for depositors seeking stable returns.

By accessing the above two types of assets, NX meets the actual leverage and points needs of Solana DeFi ecosystem users, and its TVL has almost grown in a straight line since the first quarter of the points airdrop event in July.

NX Ecological Network

As the yield enhancement layer in the Solana DeFi ecosystem, NX Finance actively integrates high-quality assets in the Solana DeFi ecosystem. In the past month, it has become one of the fastest growing TVL projects in the Solana ecosystem.

1. Integrate Jupiter Exchange's JLP assets:

· NX Finance has successfully integrated the JLP assets of Jupiter, the largest Perpdex in the Solana ecosystem.

· In the recent extreme market conditions, JLP has received high attention from the market for its price stability.

· Users can apply two times leverage to JLP in NX Finance to obtain an annualized rate of return (APY) of up to nearly 100%, and since its liquidation price is as low as 1.7, the liquidation risk is almost negligible.

2. Solayer's leveraged point mining is about to be launched:

· NX Finance plans to launch a leveraged point mining strategy in cooperation with Solana's ecological head Restaking protocol Solayer (invested by Binance Labs) in the future, which is expected to further promote the growth of TVL.

3. Cooperation with The Vault:

· NX Finance has established a partnership with The Vault, the third-ranked LST project in the Solana ecosystem, to provide vSOL point leverage services.

· Users can mine vSOL points in NX Finance by borrowing SOL and applying leverage, increasing the potential for earnings.

4. Cooperation plan with GMSOL:

· Regarding GMSOL, the implementation version of GMX V2 on Solana launched by the GMX community, the NX team stated that it will integrate its LP assets immediately when GMSOL is officially launched.

5. FlashTrade will be connected soon:

· According to NX Finance's Roadmap, the platform plans to further integrate the more diversified Perpdex FlashTrade in the Solana ecosystem and provide leveraged income strategies for FLP assets.

6. Close cooperation with the Solana core community

· NX Finance cooperates with the Solana OG NFT community MadLads community to provide Madlads holde with a 20% point boost, further enhancing its core influence in the Solana ecosystem.

IDO Overview: Key Information and Participation Guide

NX Finance's IDO will be divided into two rounds, namely the whitelist round and the public round. The whitelist round is scheduled to start at 20:00 Beijing time on September 2, 2024 and last for 24 hours. The public round will follow immediately, starting at 20:00 Beijing time on September 3, 2024, and last for 72 hours. The token price of the whitelist round and the public round is the same, both are 0.00143SOL per token. Based on the price of $140 per SOL, the full circulation market value of NX tokens is 20 million US dollars, and the circulation market value is 4 million US dollars. Four days after the end of the IDO, the NX token will be officially TGE on September 9.

Round details

Whitelist Round:

Time: September 2, 2024 12:00 UTC / 20:00 Beijing Time

Amount: 4300 SOL

Price: 0.00143 SOL per token

Eligibility: Limited to users with more than 500K NX points and active members from the community before August 31, 2024 12:00 PM UTC

Model: First Come First Served (FCFS), no participation restrictions

Public Round:

Time: 2024 September 3-5, 12:00 UTC / 20:00 Beijing Time

Amount:17150 SOL

Price:Same as whitelist round, 0.00143 SOL per token

Eligibility:Open to everyone

Model:Overflow mode, allowing additional contributions above the target cap, tokens are distributed in proportion to contributions, and excess funds will be refunded

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