Nibiru is a community-owned decentralized blockchain built for the next-generation web3 experience. The firm operates a (DeFi)Decentralized Finance and smart contract hub where derivatives are traded. The firm prides itself as being at the center stage of ushering in the next era of money through DeFi that facilitates users and businesses to stake, swap, provide liquidity and trade perpetual futures on the Nibiru Chain. It is also a sovereign proof-of-stake open-source blockchain that forms a member of an interconnected family that includes the Cosmos ecosystem. Its main objective is to unify leveraged derivatives trading, spot trading, staking and bonded liquidity provisions to enable users of more than 40 blockchains to trade using composable decentralized applications. The startup is set to launch its mainnet and stablecoin this summer.
Nibiru chain has recently, announced the closure of a seed fundraising round that yielded $8.5 million in funding, bringing the firms total valuation to $100 million. The fundraiser was co-led by Tribe Capital, Republic Capital, NGC Ventures and Original Capital. The funds acquired from this event are set to be utilized in facilitating the development of Nibiru’s technology stack as well as its team and community. The event place has extended since July of 2022 meaning it managed to raise some funds in the crypto winter of 2022. The firm however has plans to unveil a series A funding round to drive its valuation to $200 – $250 million.
Once the Nibiru is built out, it contain several features that will form part of its technology stark. Nibiru ecosystem will have Nibi-perps – a perpetual futures exchange where users can trade a myriad of assets in a completely on-chain and non-custodial manner while incurring minimal gas fees.
Another feature is the Nibi-swap Spot AMM – an AMM(Automated Market Maker) protocol for multi-chain assets. This feature gives its users access to swaps, pools and bonded liquidity across many chains.
Nibiru is also set to power a two-token economic model with the launch of its NUSD stablecoin. The model will operate with NIBI as the staking and utility token for the protocol while NUSD will act as a capital efficient and partially-collateralized stablecoin for the protocol.
The firm will also roll out Nibiru Feed Oracles that will facilitate accurate pricing of assets using a native system of decentralized oracles and leverage communication with other Cosmos layer-1 blockchains to achieve interoperability.
With the imminent launch of Nibiru mainnet, the firm has been operating a testnet where several applications have already gone live. The firm has iterated its compliance to IBC(Inter-Blockchain Communication) protocol at Genesis to facilitate secure and permissionless transfer of value and funds between blockchains together with arbitrary data – cross-chain smart contract calls, fee payments and NFT transfers while eliminating reliance on a centralized bridging solution.
