What is Nitro Cartel? Nitro Cartel is an ecosystem with many internal protocols on cross-chain or yield farming and is also the next project to be Public Sales on Camelot’s platform – the leading AMM on Arbitrum’s ecosystem.
So what’s new and interesting about Nitro Cartel? Everyone, let’s find out in this article!
What is Nitro Cartel?
Nitro Cartel is a DAO (decentralized autonomous organization) built and developed with a number of clear principles as follows:
- Liquidity booster and TVL of the entire Arbitrum generator.
- Allocate the capital of Passport holding members efficiently and transparently to generate maximum profits on the Arbitrum ecosystem.
- Nitro Cartel introduces a new governance mechanism to effectively deploy strategies and the project can combine with leading DeFi projects on the Arbitrum ecosystem.
- Receive rewards and distribute rewards from other protocols on the Arbitrum ecosystem that can be incentive, retroactive, airdrop,…
The Passport concept is the first concept when users set foot in the Nitro Cartel ecosystem. The passport serves as a gateway and proof of Nitro Cartel membership. In the early stages of project development, Passport plays the role of project administrator, which means that Passport holders will have the right to vote on proposals on Nitro Cartel. In the future, the project’s token NITRO will be launched and replace Passport’s governance rights, and Passport holders will hold the majority of this token.
The project’s operating mechanism is quite simple, Nitro Cartel Treasury will initially be a source of revenue from selling Passport to the community, then people in the community will vote together on how to use this tresury resource. on the Arbitrum ecosystem to make profits.
The project officially launched the mint Passport on December 4, 2022 with a mint price of 0.4 ETH.
There will be 1,000 Passports in total, of which 80% will be for the community and the remaining 20% will be for the development team.
Nitro Cartel is an ecosystem with decision-making power around Passport Holders and they have some of the following products:
- Arbitrove: Arbitrove gives Passport Holders unlimited access to emerging to leading DeFi protocols, Yield Farming or NFT projects on the Arbitrum ecosystem.
- Hyperplane Bridge: Nitro Cartel will work with Layer Zero to solve cross-chain issues on the Arbitrum ecosystem.
Development Roadmap
In Nitro Cartel’s development roadmap, there are 3 strategic products: Arbitrove, Hyperplane Bridge and Dinero.
Core Team
Similar to projects on Arbitrum, Nitro Cartel’s development team is anonymous and they only share information about their experiences. Experience of Core Team and BD Team members includes:
- Former Machine Learning engineer from FAANG.
- Extremely system engineer at one of the largest financial institutions in the world.
- Former founder of an infrastructure project on NFT.
- Blockchain analyst and researcher at a prestigious university.
- Ecosystem investors have invested in GMX, Jones DAO, Plutus DAO,…
- Former banker in the United States.
- Former BD director of a quite famous DeFi project.
- Core member of a Research DAO team.
Tokenomics
Currently, there is only information about the issuance of NITRO tokens, which will depend on the vote of the Passport holding team, and after issuance, Passport holders will hold a large portion of the project’s tokens.
Project Information Channel
Summary
Nitro Cartel is quite an interesting project and deserves to be on the watch list of a researcher in the Solana ecosystem. However, we still need to observe the effectiveness of the projects that Nitro Cartel will introduce in the near future.
