What is Nibiru Chain? Nibiru Chain is Layer 1 built using the Cosmos SDK toolkit. The platform only focuses on supporting the DeFi market. So what is Nibiru Chain? How does it work? Let’s find out in this article!
To understand more about Nibiru Chain, you can read the following articles:
- Overview of the Cosmos 2022 Ecosystem
- Cosmos – The new home of Delphi Digital after the fall of Terra
- Why did dYdX choose Cosmos as the next project?
- What is Axelar Network (AXL)? Axelar Network Cryptocurrency Overview
- What is Onomy (NOM)? Overview of Onomy Cryptocurrency
- What is Evmos (EVMOS)? Evmos Cryptocurrency Overview
- What is Juno (JUNO)? Juno Cryptocurrency Overview
- What is Osmosis (OSMO)? Osmosis Cryptocurrency Overview
- What is Cronos (CRO)? Cronos Cryptocurrency Overview
What is Nibiru Chain?
Overview of Nibiru Chain
Nibiru Chain is Layer 1 built using the Cosmos SDK toolkit. The platform only focuses on supporting the DeFi market, providing products such as Perpetual, Spot, Staking and liquidity provision. Enables users of over 40 blockchains to trade with leverage using a suite of composable decentralized applications.
Although Nibiru Chain is a Layer 1 using the Proof of Stake consensus mechanism, the platform itself builds DeFi products for the ecosystem integrated on the platform. This is also quite similar to a few other platforms on Cosmos like Canto.
Nibiru will also function as a censorship-resistant and permissionless platform for developers to deploy smart contracts in the Go and Rust languages. Build dApps to support and grow the DeFi market.
Mechanism of action
Products in the Nibiru ecosystem:
- Nibi-Perps: A perpetual futures exchange where users can gain exposure to leverage and trade on a wide variety of assets with minimal gas fees.
- Nibi-Swap Spot AMM: Nibi-Swap is an automated market making protocol for multi-chain assets. This application provides users with access to swaps, pools and bonded liquidity.
- NUSD Stablecoin: Nibiru supports a two-token economic model, where NIBI is the staking utility token for the protocol and NUSD is a partially collateralized, capital-efficient stablecoin for the protocol.
- Price Feed Oracles: Nibiru accurately prices assets using a native, decentralized oracle system and communicates with other Cosmos layer 1 chains using an inter-blockchain communication bridge (IBC).
Development Roadmap
Core Team
Unique Divine: Co-Founder / Lead Software Engineer
- In 2020, Unique successfully obtained a Bachelor’s degree in Applied Physics at Columbia University, then he continued to successfully obtain a Master’s degree in Applied Mathematics at Columbia University itself.
- Also in 2020, Unique worked as Artificial Intelligence Engineer at ApTSi. Mr. dDeveloped new ML applications to automate parts of doctor-patient interactions with NLP, write containerized applications, RESTful web microservices, APIs using Spring Boot and Java.
- In 2021, Unique worked as Senior Software Engineer at Sommelier Protocol, Sommelier is a blockchain protocol for implementing on-chain automated trading strategies.
- Currently, Unique is Co-Founder and Lead Software Engineer at Nibiru Chain, a project established in 2022.
Boris Revsin: Core Contributor
- In 2007, Boris joined the founding of CampusLIVE Inc, which became Breaktime Media with Series A funding in 2009.
- In 2009, Boris joined the founding of Breaktime Media, which was acquired by Connelly Partners in 2014.
- In 2015, he helped found VentureApp (now HqO), but after more than 2 years of building and developing products here, he left to find a new opportunity.
- In 2017, Boris continued to start a business with Game Theory Group, Game Theory Group became Republic Labs in 2019 investing and researching into fintech/crypto companies.
- In 2021, Boris joined the board of directors of Tailwind Two Acquisition Corp, which successfully merged with Terran Orbital (LLAP) in March 2022. Tailwind Two Acquisition Corp is a $345 million SPAC focused on technology space. Tailwind Two trades under $TWNT on the New York Stock Exchange.
- Boris became Head of Republic Capital in 2018. Republic Capital oversees all fund and institutional products in the Republic ecosystem. As of January 2022, manages over $1 billion in assets in the firm’s funds.
- Currently, Boris is a Core Contributor at Nibiru Chain and Managing Partner at Tribe Capital.
Sankha Banerjee: Builder
- In 2012, Sankha successfully earned a PhD in Philosophy and Applied Mathematics at Massachusetts Institute of Technology.
- In 2013, Sankha worked as a Quantitative Researcher/Trader at Castleton Commodities International. Manage the implementation and maintenance of the code base for fundamental and quantitative analysis in the electricity and gas business.
- In 2016, Sankha worked as a Quantitative Trader at Blue Ridge Capital, designing and implementing statistical arbitrage strategies in futures and G10 currencies using Kalman filtering. Researched and developed a systematic full energy portfolio based on genscape and EIA data.
- In 2017, Sankha became Portfolio Manager at Eastmore Group, designed and implemented a portfolio of high Sharpe statistical arbitrage and trend following strategies on BITMEX, using minute bars of order book data .
- In 2019, Sankha worked at Family Office as Chief Executive Officer
- Currently, Sankha is the Core Team of Nibiru Chain, a project established in 2022.
Investors
September 23, 2022: Seed round successfully raised $8.5M at a valuation of $100M invested by funds such as HashKey Capital, Tribe Capital, Kraken Ventures, NGC Ventures, Republic Capital, Original Capital, SaxeCap, BECO Capital, Alves Ventures, VC3 DAO, CapitalX, Cerulean Ventures, Cogitent Ventures, Token Metrics, Basis Set, Broadhaven Capital Partners, Contango Digital Assets, Cosmostation.
Tokenomics
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Exchanges
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Nibiru Chain Information Channel
- Website: https://nibiru.fi/
- Twitter: https://twitter.com/NibiruChain
- Discord: https://t.co/X9wTloVpdm
- Medium:
Summary
Nibiru Chain is a DeFi development-focused platform built on the Cosmos SDK framework. Nibiru will take advantage of Cosmos’ available infrastructure as well as connect to all other Chains in the Cosmos ecosystem.
So I have clarified what Nibiru Chain is? Nibiru Chain cryptocurrency overview. Hope this article brings you a lot of useful knowledge!