The Nolus Protocol, a revolutionary semi-permissioned blockchain platform, has demonstrated exceptional performance in its initial phase. The platform, which bridges lenders and borrowers in the DeFi money market, reported an impressive total transactional volume of nearly $15 million within just six months of its launch. This remarkable achievement includes a notable spike in January, where the daily volume reached $250,000.
Nolus Protocol, based in Tallinn, offers its unique DeFi Lease product, allowing borrowers to secure up to 150% financing on their initial investments. This innovative approach is coupled with access to leveraged assets through whitelisted strategies. More than 4,000 DeFi Lease positions have been initiated, amounting to over $8.6 million in value. These leases are backed by nearly $4 million in down payments (collateral), featuring key assets such as ATOM, OSMO, AKT, TIA, wETH, and wBTC.
The protocol's success is further evident in its management of over 1 million active leases, with down payments totaling $1.1 million to secure $2.6 million in leases. Assets like OSMO and TIA have been particularly popular, yielding returns above 150%. The average profit per lease across all positions is an impressive 70%.
Nolus Protocol's risk management strategies have proven effective, with only 0.5% of the $8.6 million lease positions facing liquidation. This is a testament to the user-friendly liquidation terms and the partial liquidation mechanics, which protect users' initial investments.
The Total Value Locked (TVL) in the Nolus Protocol has grown from $1 million to $4.5 million in just 60 days, driven by a competitive 10% APY real yield for liquidity providers (LPs) and appealing borrowing conditions. The upcoming integration with Astroport on Neutron is set to further enhance Nolus’s capabilities, leveraging Astroport’s liquidity and Neutron’s replicated security backed by the economic strength of the Cosmos Hub.
Nolus Protocol defines a new money market between lenders and borrowers, utilizing a semi-permissioned Proof of Stake (PoS) blockchain built using the Cosmos SDK. The platform's focus on interoperability, security, and performance, along with its integration of IBC and Interchain Accounts, positions it as a key player in the evolving DeFi landscape.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
