Demystify NAOS Protocol — A Tutorial
NAOS Protocol may look daunting at first, consisting of multiple dashboards filled with arcane financial terms and metrics. Let’s jump right in to see how it works!
Product Structures and Functions for Each Page
NAOS dApp consists of four major components: Formation, Transmuter, Galaxy and Farm.
Homepage is a personalized dashboard for users to see macro-economic benchmarks and their activities on NAOS protocol, including investment and transaction histories.
Formation is where users deposit BUSD and mint nBUSD. Deposited BUSD will be deployed to Alcapa Finance to earn yield, and minted nBUSD can be staked in Galaxy Beta Insurance Pool to earn additional yield.
Transmuter allows users to convert nBUSD to BUSD.
Galaxy consists of Alpha Lending and Beta Insurance Pools. There are two Alpha Pools with different loan/lock periods, users can stake BUSD to be deployed as lending capital in the real world. Users can also stake nBUSD (mint from Formation) in the Beta Pool, which serves as insurance coverage for the Alpha pool.
Farm provides an overview of all staking pools available on NAOS Protocol. NAOS Boost Pool is a single token staking pool, stakers can boost their NAOS rewards up to 2.5x in the Alpha pool. NAOS Beta Pool here is the staking pool for Beta token holders, it provides additional NAOS rewards to the investors who participate in the Beta Insurance Pool.
Step-by-Step Guide
NAOS Boost Pool
NAOS Boost Pool is a single token staking pool with lock-up periods ranging from 3 months to 4 years. The longer the lock-up period, the more NAOS rewards you will be able to earn. Staking in the Boost Pool also enables you to boost your Alpha Pool Rewards (1x-2.5x).
- Go to Farm > NAOS Boost Pool.
2. You will see your available NAOS tokens. Click STAKE to start staking.
3. Input the amount you wish to stake and choose the preferred lockup period.
4. Click Stake to confirm the transaction.
How to unstake tokens from the Boost pool?
Enter Farm > NAOS Boost Pool. Click UNSTAKE and choose the transaction to remove your tokens.
How to claim rewards from the Boost pool?
Claiming NAOS reward from Boost Pool subjects to a 7-day cooldown period, once initiated cooldown, users will have 24 hours to claim the rewards on the 7th day. If the reward was not claimed within 24 hours, users will need to re-initiate the 7-day cooldown.
Users also have the option to claim rewards immediately without a cooldown period, however, 50% of reward will be penalized and returned to the pool.
- Click CLAIM REWARD in the NAOS Boost Pool page.
2. Choose COOLDOWN on the pop-up page. If you choose to claim immediately, 50% of your rewards will be returned to the pool.
3. Once Cooldown is activated, wait time will be imposed.
Beta Pool Guides
To get Beta tokens, users need to go to Formation, deposit BUSD and borrow nBUSD. Then stake nBUSD in the Galaxy Beta Insurance pool.
- Enter the Formation Vault and check your BUSD balance.
2. Click DEPOSIT in the pop-up window.
3. You will be able to borrow nBUSD up to 50% of your deposited BUSD.
4. Enter the uBUSD amount you wish to borrow, click Borrow to get nBUSD.
5. Go to Galaxy > Beta Pool.
6. Input nBUSD amount, DEPOSIT to get Beta tokens.
How to stake Beta tokens into Beta Staking pool?
- After getting Beta tokens, go to Farm > NAOS Beta Pool.
2. You will see available Beta tokens.
3. Input the amount and click Stake.
How to claim rewards from Beta Staking pool?
To get Beta token staking rewards, simply click CLAIM REWARD on the Beta Staking Pool page.
How to redeem Beta tokens?
To redeem Beta tokens, users should first unstake Beta tokens.
- The NAOS Beta Staking Pool page shows the amount of your staked Beta tokens. Click the UNSTAKE button below.
2. Input the unstake amount and choose UNSTAKE.
3. Go to Galaxy > Real World Assets Pool, click the REDEEM button on the top.
4. Choose the BETA category, put in the amount then click Redeem.
If you’re holding erc20 NAOS token, you can find the step-by-step tutorial here on how to bridge it to bep20 NAOS token.
About NAOS Finance
NAOS Finance is a decentralized real-world asset (RWA) lending protocol that facilitates the borrowing of crypto native assets by using RWA as collateral. NAOS has established a large network of corporate borrowers and is operating with financing licenses in multiple regions. In the effort of connecting CeFi with DeFi, NAOS takes an ecosystem approach and looks to engage in meaningful strategic partnerships to expand the boundary of decentralized finance.
