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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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NX Finance: A New Leader in Solana Decentralized Finance Ecosystem Returns
The Yield Layer of the Solana Decentralized Finance Ecosystem: Innovations and Developments of NX Finance
Against the backdrop of the thriving Solana ecosystem, NX Finance stands out as an innovative yield aggregator. It aims to become the yield layer of the Solana Decentralized Finance ecosystem, providing users with diversified yield strategies through the yield leverage of interest-bearing assets and the yield split of airdrop points.
The Rise of the Solana Decentralized Finance Ecosystem
Recently, the amount of funds on the Solana chain has significantly increased, with the total locked value (TVL) skyrocketing from 300 million to 4 billion dollars from the third quarter of 2023 to July 2024. This growth is primarily attributed to the memecoin craze and the subsequent influx of large amounts of capital.
As the amount of capital increases, users' demand for stable DeFi returns is also rising. Currently, DeFi returns on the Solana chain mainly come from interest-bearing assets within single products, such as LST( Liquid Staking Token) type assets and JLP type on-chain perpetual contract trading pools.
In addition to traditional DeFi yields, many projects use a points-based airdrop to incentivize user participation. However, different users have varying needs and risk preferences regarding the returns implied by the points, based on their individual circumstances.
The Goals and Strategies of NX Finance
The goal of NX Finance is to become the yield layer of the Solana DeFi ecosystem, meeting the needs of different investors through two core strategies:
Fulcrum Strategy
The Fulcrum strategy allows users to enhance returns by leveraging yield-bearing assets. Taking the JLP( Jupiter Liquidity Provider) asset pool as an example, users can collateralize JLP, borrow USDC to purchase more JLP, thereby obtaining higher returns.
Gold Mining Strategy
The Gold Mining strategy aims to split the profits from airdrop points. Users can pledge assets and borrow funds to participate in airdrop activities of target protocols, while lenders can earn stable borrowing interest.
NX Finance's Contribution to the Solana Decentralized Finance Ecosystem
Seamless integration of yield-bearing assets: NX Finance allows users to adjust leverage ratios for risk reallocation. For example, the JLP leveraged farming strategy had an average annualized return of up to 220% in June.
Risk redistribution of point airdrops: Through innovative airdrop strategies, NX Finance provides flexible options for users with different risk preferences, extending risk allocation to the time dimension.
The Future Development of NX Finance
In the third quarter of 2024, NX Finance plans to launch more asset lending pools and has kicked off the airdrop season on July 1. After the airdrop season ends, an IDO is expected to take place at the end of the third quarter.
Airdrop Season 1 - Points Adventure Event
The points system of NX Finance includes total locked-up volume points, a referral system, and team gains. Users can earn points by participating in various activities, thereby increasing their chances of receiving future airdrops.
Summary
As an important part of the Solana Decentralized Finance ecosystem, NX Finance is leading the way with its innovative strategies. It not only provides opportunities for maximizing returns but also balances risks through modular and composable solutions. As the Solana DeFi ecosystem continues to evolve, NX Finance is expected to play a key role in offering diversified yield products and enhancing the maturity of the ecosystem.