Nimbus DAO, a decentralized governance protocol rivaling Compound and Yearn Finance, announced the launch of its governance token, GBNU, on Uniswap on 17th March, 2021. The platform offers over 10 earning strategies including via participation in IPOs, startup financing, peer-to-peer lending and borrowing, and so on.
Over the past few months, the decentralized finance ecosystem, popular as DeFi, has seen tremendous growth as governance protocols took shape with rising demand for decentralized ruling. Nimbus, launched in 2019, is a DAO governed ecosystem that offers multiple financial instruments to help users earn the highest returns.
On March 10th, the community welcomed the GBNU token, launching it on its internal swap platform, Nimbus Internal Swap Machine – witnessing a meteoric surge of 200% in less than 48 hours. Now, every Uniswap user will be able to swap for GNBU tokens, following the listing on 17, March 2021.
According to a statement from the team, the GNBU token enables voting and trading amongst a slew of other utilities, prime of them, earning from over 10 revenue generating financial instruments on the Nimbus platform. Moreover, the integration with Uniswap opens up for “exciting possibilities and arbitrage opportunities between the Nimbus internal swap and Uniswap V3.
Governance tokens allows holders to have a direct say on the proposals through decentralized voting. Only 10% of the GNBU tokens will be distributed to the Nimbus Organization – maintaining decentralization on the platform.
“GNBU holders shall be able to create proposals and submit votes on economic, technical, and governance-related matters of the Nimbus Platform,” the statement reads.
During its short lifetime, Nimbus platform has acquired over 50,000 users on its platform expanding its utility to them – from trading and voting to new decentralized financial products including its IPO participation dApp, Peer-to-Peer Lending & Borrowing dApp, Crowdfunding dApp, and Crypto Arbitrage-Trading dApp.
Portions of each of these revenue generating activities are distributed between GBNU holders. This makes the token better than most of the current governance tokens as it provides a diversified and risk mitigated strategy while earning optimal returns for the holders, a spokesperson said in a statement.
Nimbus platform recently announced its plans to launch a stock in a top North American stock exchange to provide more value to its holders.