Napier Finance, The end game for Curve ecosystem.

Yusuke O

Published in

Napier

2 min readNov 13, 2023

Overview

Napier is a liquidity hub for yield trading focused on unlocking the full potential of Curve ecosystem.

Napier allows users with versatile yield management strategies and opens doors for any fixed-term asset can be listed on Napier (Curve).

The market will be incentivized on Curve and Convex Finance to create a capital-efficient flywheel where liquidity providers can receive trading fees, CRV, CVX, and Napier native token on top of their staking or lending yields.

Backed by the best

Napier is backed by Michael Egorov (Curve Finance founder), C2tP(Convex Finance Cofounder), Winthorpe (Convex Finance Cofounder), B Dash Ventures, FLICKSHOT, Mrblock (Curve Finance), Charlie (DeFiLlama Cofounder), Brandon Neal (Euler Labs COO), Sidney Gottlieb (Prisma Finance cofounder), Jinwoo Park (Hashed/MYTY founder), Jawz (Ex-OlympusDAO), Edward Mulraney (Liquity), Sho Yoshida (Crypto Investor), Fracton Ventures and many more.

Current state

The market for fixed yields have gained significant traction, as seen with the rapid growth of Pendle Finance. However, that is just the begining. With the entrance of more institutional investors and user-facing apps into this market, the demand for fixed yield protocols will undoubtedly become the new holy grail of DeFi, serving as an essential foundation for the next wave of DeFi’s evolution.

Curve & Napier

We chose to build on Curve pool to achieve maximized capital efficiency for yield trading. Napier AMM optimizes fixed-term assets, seamlessly syncing with Curve v2 for enhanced dynamics.

NPR: Token & Governance

NPR uses the veToken model which controls several aspects of the protocol:

The Napier time-dependent pool
Pool parameters for fixed-term assets
Protocol fees
Emissions (and which pool should receive them)

Governance participants, among other things, have the ability to incentivize the minting of PTs/YTs or change mint and swap fees on their assets of choice with the goal of incentivizing yield sources protocols like lending or liquid staking to participate in Napier’s governance. veNPR holders can also choose to incentivize any LP tokens with NPR emissions.

Napier

Please dive into our two articles explaining the groundbreaking Napier Protocol. Here are the links:

Wen

In the coming weeks, we will reveal more about Napier, its launch, tokenomics, and its novel mechanisms while the protocol goes through multiple audits from the best auditors there are.