Unrelenting volume propels NRV token to impressive performance in only a week.
Price Hike
The Nerve team saw a spike in volume as the protocol posted $26 million traded over 24hours on August 16.
As of the 9th of August, the NRV token was trading at $0.61. In just seven days, the price more than doubled to its current form, which is $1.26 on August 16, according to CoinGecko. The team jumped out the gate with their launch and accredited some to their choice of blockchain.
“Nerve was launched on Binance Smart Chain because BSC allowed us to achieve what we hold as the true values of [Decentralized Finance (DeFi)]: the democratization and access of finance without restrictions,” the Nerve Team explained via their official page, relating to why they decided not to launch with Ethereum.
This move is particularly impressive as Nerve Finance continues to develop in offering a financial service without restrictions, despite not being cross-chain yet. The protocol also announced via Twitter that it became a top 15 decentralized exchange, with $102 Million in total volume locked and over $4.6 Billion in total traded volume.
BSC Intertwined With Nerve’s Long-standing Aims
A stated and underlined point of inspiration for Nerve is from how they perceive Ethereum as pricing out 99% of potential DeFi users through elevated gas fees. They understood that by differentiating themselves, they could tap into a bigger potential market of users.
Regardless of the lofty potential of decentralized networks, the perception is that a protocol that prioritizes user experience cannot afford to work from Ethereum currently. BSC is posited as the beginning, offering a base that allows Nerve to grow and expand while offering users a fairer and freer financial service.
“We are building Nerve to create a long-standing centerpiece of not just the BSC ecosystem – but across all of DeFi. BSC is just the start,” the team explains on their official webpage.
Steady Volume Growth | Source
What is Nerve?
Launched on Binance Smart Chain (BSC), Nerve is an automated market-maker (AMM) focused on low-slippage trading of stablecoins and other pegged assets.
What do we mean by low-slippage? Say you are a DeFi user attempting to swap $100,000 USDC to BUSD. PancakeSwap, currently the biggest AMM on Binance Smart Chain, would let you have $99,396.6, meaning you lose over $600 in the process. Through using Nerve you would receive $99,999.7 that is almost 0 lost or ‘slipped’.
Nerve also launched 3Pool, its signature liquidity pool that allows you to earn yield by depositing BUSD, USDT or USDC.
The team explain on their official page that they have also recently established an fUSDT metapool and pegged BTC and ETH pools in service of its cross-chain Nerve Bridge, as well as an rUSD metapool in collaboration with Ramp DeFiand a UST metapool in collaboration with Terra. More pools are constantly in development, and projects are welcome to apply to develop a metapool with Nerve through the BUIDL program.
Nerve is non-custodial, meaning the Nerve developers do not have access to your tokens.
Find Nerve Finance at these links:
Source : bsc.news
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