Nibiru is a blockchain within the Cosmos ecosystem, specifically designed for DeFi (Decentralized Finance) services. Its main aim is to offer various DeFi tools like Dexes (Decentralized Exchanges), Perp (Perpetual Contracts), Oracles, Stablecoins, and more.
What is Nibiru
Here's how it works:
- Focus on DeFi Services: Nibiru is solely dedicated to providing DeFi tools to users. This includes a range of financial services operated on blockchain technology.
- Current Testnet Offerings: In its testing phase, Nibiru has a Dex, a Perp terminal, and staking features available for users to try.
- Inter Blockchain Communication (IBC): Nibiru is part of the IBC, which means it can interact with other blockchains in the Cosmos ecosystem and, in the future, with EVM blockchain (Ethereum, Arbitrum, etc.). IBC allows for secure fund transfers between blockchains, cross-chain computations, and data transmission.
- Uses Web Assembly (Wasm): For smart contracts, Nibiru uses Wasm, a modern method that executes code faster than traditional JavaScript.
- User Experience: Nibiru's objective is to provide its DeFi tools to users across connected chains, aiming for a smooth and seamless experience.
- Future Developments: The team plans to implement interchain queries and accounts, Automatic Liquidation protocols, and introduce NUSD, their ecosystem's stablecoin.
In summary, Nibiru is creating a focused DeFi platform within the Cosmos ecosystem, making it easier for users to access a variety of financial tools and services across multiple blockchains.
Team of Nibiru
Nibiru review
Pros
Experienced Coders
Strong coding and DeFi experience in the team, despite an anonymous founder.
Wide Interoperability
Connected to over 40 IBC chains, with upcoming EVM chain connections.
Enhanced Performance
Offers high throughput, low latency, and strong security for efficient blockchain operations.
Cons
Limited Funding
Received minimal funding a year ago.
Unknown Team Structure
Lacks clarity on the team's composition, with an anonymous founder and one known developer.
UI/UX Concerns
Current testnet dApp experience falls short compared to competitors.
Low Social Engagement
Despite a large community, social media engagement is relatively low.