Categories: DeFi News

Nimbus Platform (NBU), the Ultimate DeFi Ecosystem, Gains Listing on Uniswap DEX!

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Nimbus platform – a DAO-governed ecosystem that generates over 10 reward streams for users based on the most-wanted financial tools, such as IPO participation – is finally launching on Uniswap on February 24th, 2021 at 12 PM GMT. The move to Uniswap opens up new exciting opportunities for users including arbitrage opportunities and the ability to execute larger swaps while preventing slippage on the rates. This was shared in an official announcement on Nimbus Telegram channel on Feb 11th

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The listing aims to further grow the Platform’s existing 50,000 user-base by providing a simpler access to the main “key” of the Platform: the NBU token. The integration is also expected to boost the $32,000,000 NBU market cap even further above the current mark that has been achieved in less than a month since the NBU launch. 

Additionally, as NBU gets listed on more and more centralized exchanges and DEX’s, this allows for more arbitrage opportunities and makes it easier for traders to make swaps without facing much slippage on the token price. This comes as great news for all those who queue up to get their NBUs in higher batches while sticking to an attractive exchange rate. 

The Nimbus platform is a DAO-governed ecosystem of decentral applications that allows users to earn various revenue streams based on participation in IPOs, startup financing, peer-to-peer lending, liquidity provision, crypto arbitrage-trading anв so on. Unlike many other DeFi projects, most Nimbus solutions are based on tried-and-true financial tools that are rather simple to understand for an average user, yet efficient.

Nimbus platform is similar to Uniswap in that it also has its own automated market maker (AMM) – Nimbus Internal swap machine. The swap allows users to directly swap the NBU token for wBTC, ETH, DAI, or USDT and ensures the ecosystem runs in synergy. 

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However, unlike Uniswap, each swap on the Nimbus Internal swap generates rewards for Nimbus governance token holders, liquidity providers, referral program participants, etc. Also, if you provide liquidity to the swap by adding your crypto assets to a pool, you will get a portion of the transaction fees and receive 100% APY on your assets. 

The platform’s internal Swap currently has $3.3 million in liquidity. During the past week, the Platform daily transaction volume peaked at $430,000. The numbers are expected to grow following the listing of NBU tokens on Uniswap as the volumes on the exchange gradually increase. 

All in all, the integration to Uniswap is expected to accrue NBU’s value as the bullish momentum in the crypto market and demand for DeFi products kicks on. Having the internal swap and Uniswap listing build a “perfect synergy” for users providing “benefits and opportunities both when holding and trading your tokens”, a Medium post from the Nimbus team reads. 

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Casper Brown

I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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