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.
Nibiru
DeFi
Infrastructure
Description
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.