Nord Finance: An Advanced Cross-Chain Decentralized Finance Ecosystem

Nord Finance’s implementation of the Binance Chain Network has attracted quite an interest amongst users. With integrations planned with Polygon (formerly Matic), Elrond, and Orion Protocol, Nord is on the path to be the leader among multi-chain DeFi ecosystems.

By
Wilfred Victor
on
March 17, 2021
Category:
Project Insight

Introduction to Nord Finance

Ethereum is the leader of the Decentralized Finance (DeFi) movement. With Uniswap’s innovative decentralized exchange discovery last year - the Automated Market Makers (AMM) - yield farming has witnessed massive adoption in the space. Several projects such as Compound, Maker, Aave & Uniswap have opened incredible wealth creation opportunities for investors and traders alike. 

To drive mass adoption and demystify DeFi investing for the users, Nord Finance was launched with the vision of delivering traditional financial products for the DeFi ecosystem. 

Nord Finance is a blockchain agnostic platform offering an unified user experience for users across blockchains. Deployed on the Ethereum blockchain Nord Finances offers products such as savings, advisory, loans, investment/funds management, and swaps to users irrespective of their block. Offering cross-chain interoperability, LP staking, Nord Savings and other products on a single platform is what distinguishes Nord Finance from other DeFi protocols.

To deliver on its core principles of bringing traditional financial instruments drive mass adoption of DeFi, Nord Finance has 4 key products: 

Through these products, Nord Finance offers several key features.

  • Smart Chain Fund Management: Put your stable coins to use and earn the highest yield available in the DeFi ecosystem with the Nord dedicated innovative protocol.
  • Cross-chain swaps and interoperability: Nord platform eliminates the need for users of varying blockchain platforms to move assets across the different blockchains for swap functions. The multichain protocol chain switching ensures users receive the best Annual Percentage Yields (APY).
  • Zero cost transactions: The platform will set up to not charge upfront network fees for deposits. The smart contract absorbs the gas fees, which are adjusted in the final APY. Users do not have to worry about the high gas cost currently prevalent in the Ethereum blockchain.

Journey So Far

Over the last 2 months the team has successfully launched the Nord Savings platform (v1) with Liquidity Mining program to attract more users and incentivise token holders leading to a TVL of USD 3.5 Mn. Over the next few weeks, the team plans to launch it’s yield farming strategies from multiple lending platforms effectively completing the first goal of launching the Nord Savings V1. 

Additionally, as part of launching Nord Savings V2 the team has already completed the integration with Binance Smart Chain (BSC). The beta testing program for Nord Savings V2 has been successfully completed and the platform is expected to launch to the public soon after the audit is completed by Zokyo.


Strategic Partnerships: Enabling the Multi-Chain DeFi Vision


Polygon: Polygon ( Previously Matic Network) partnership will explore endless possibilities in unlocking the potential of DeFi assets to the broader financial ecosystem. This strategic partnership will usher in increased DeFi adoption, enhancing the overall user experience encouraging mainstream users to participate in the revolutionary financial paradigm.

Elrond Network: Nord finance to bring massive opportunities gives eGold holders the chance to participate in DeFi opportunities on other platforms, while also enabling users from different blockchains to engage with our ecosystem, for mutually beneficial growth.

Orion Protocol: Partnership will accelerate the ecosystem by providing flagship solutions resulting in an enhanced utility wave

Frontier: The partnership will allow users the ability to use their phones to access the Nord saving product feature

Unilend: Nord will leverage the trading platform to execute the customized Robo-advisory service and unleash its full potential

Zokyo: The partnership will have Zokyo in charge of all of the platform audits to strengthen its security 
MAHADao: NORD Finance will be integrating ARTH, a non-depreciating value coin in its Nord Savings product enabling lending of ARTH and earning passive income.


Tokenomics

$NORD is the native governance tokens that fuel the activities of the Nord Finance ecosystem. It can be mined via the Liquidity Mining program or purchase on either Centralized or Decentralized exchanges. Its primary use will be in staking, voting, and employed farming strategy across different Defi platforms.


Roadmap

Nord saving, staking platform exchange listing is already underway. The V1 versions for loan and swap feature and staking program V2 are scheduled for Q1 this year. Nord Advisory, the Robo-advisory tool available for the platform users, will be deployed in Q3. With this users will be able to make informed financial decisions when the Advisory integration has been fully deployed in the future.


In Conclusion

With mainstream/institutional investors entering the blockchain ecosystem, the DeFi Ecosystem in its current shape has barely scratched the surface. Going forward, multi-chain capabilities would be critical to drive DeFi adoption.

Integration with Binance Smart Chain Network has showcased Nord Finance’s technological capabilities and garnered a tremendous amount of interest across the crypto community. With integrations planned with more blockchain networks and a wide range of traditional financial products re-imagined for the DeFi ecosystem, Nord Finance is on the way to become a one-stop solution for all financial requirements of users and investors alike.

Users who wish to learn more about Nord Finance can check out the following resources and media pages:

Website

Twitter 

Telegram

Announcements

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.