Introducing Nerve Finance: the first StableSwap AMM on Binance Smart Chain
Nerve is a StableSwap AMM designed to allow trading stablecoins and pegged synthetic assets quickly with minimal slippage.
Why Build Nerve?
Ethereum is currently pricing out 99% of potential DeFi users.Current gas fees on ETH have reached a point where the on-chain transactions provide little value for most users. The Ethereum network has become a playground for whales. While future scaling solutions may solve this, L1s such as BSC, provide a solution right now. The volumes and TVLs of BSC have clearly shown there is demand for alternatives in DeFi. The future of DeFi is cross-chain and interoperability.
We’re launching Nerve on Binance Smart Chain since BSC allows us to achieve the true values of DeFi: the democratization and access of finance without restrictions. Unlike many recent projects focused on optimizing the short-term, we’re building Nerve to create a long-standing centerpiece of the DeFi and BSC ecosystem.
Our first pool will consist of 3 stablecoins: BUSD, USDT, and USDC. The trading fee is 0.04%, there is no admin fee, and there is a 0.64% deposit fee to create sticky liquidity. Slippage is close to zero, due to our StableSwap algorithm. The fees are returned to pool liquidity providers as well as Nerve token holders.
Rewards will be paid out in $NRV — Nerve’s native token.
$NRV will be listed for trading on a Pancake Swap pool as of block 5305392, approximately Monday, March 1st at 15:00 UTC.
Initial Liquidity Mining
To bootstrap our liquidity and community, 50% of all NRV minted each block will be rewarded to initial NRV-BUSD Pancake LPs. The other 50% will go to Stablecoin pool LPs. Specifics on how to receive these rewards will be released at launch.
The NRV token
- NRV is a BEP20 governance token capped at 100,000,000 NRV
- Tokens are rewarded to liquidity providers and stakers
- NRV can be staked for $xNRV to receive additional NRV, based on trading fees, deposit fees, and emissions
- The initial emission schedule will mint 50 tokens per block, reducing by 33% each week, until the third week. Following that, each weekly emission will decrease by 10%
- As the community develops, this emission schedule and total supply can be modified via a decentralized governance vote.
- Following Sushiswap’s model, 10% of all emissions will be reserved for the community treasury to fund future Nerve development and expansion. This treasury will become governed by the community once enough decentralization is reached.
Smart Contracts and Security
Nerve smart contracts have not yet been audited and users should exercise caution. Code audits and economic attack vector evaluation are included in the team’s ongoing development timeline.
That being said, we’ve taken steps to minimize and reduce potential security issues:
- Much of our StableSwap AMM implementation was based on Saddle’s Solidity contracts, which was originally based on Curve’s Vyper contracts. Saddle’s contracts were audited here. This does not mean that our contracts were audited, as they were slightly modified. Exercise caution.
- The $NRV token, staking components, and LP rewards are based on Sushiswap’s contracts, which were also audited.
Join the community
Nerve is listing $NRV and launching the stablecoin pool, as well as starting liquidity mining on Monday, March 1st, 2021 at 15:00 UTC (at BSC block: 5305392). Subscribe to the pages below for more updates, and information about Nerve and its future roadmap for decentralized finance applications.