Nereus Finance expands to Polygon blockchain!

The Nereus Finance team worked nonstop and did great things in this short existence. To mention that Nereus is not even one year old.

Nereus got two markets; one is lending/borrowing, and another is the NXUSD market. NXUSD is a Nereus Finance StableCoin, and this is the place where the Power of DeFi happens.

What news did we bring you now?

1. Nereus Finance expands to a Polygon blockchain.
2. Now you can borrow NXUSD on the Polygon blockchain and earn rewards on two different protocols, Aave and Nereus.
3. For depositing NXUSD in the Polygon blockchain, everybody will have a fixed 12% APY!

In less than a year, Nereus Finance expanded to a new blockchain. Polygon is a new chain you can use in the Nereus Finance NXUSD market.

Now you can borrow NXUSD StableCoin with collateral at the Polygon blockchain and use it in many different ways.

The collateral that you can use on the Polygon blockchain is:

1. MATIC
2. USDC
3. DAI
4. WBTC
5. WETH
6. USDT

Except for these coins, we place additional collateral, allowing you to receive rewards on two different protocols! (Aave & Nereus) Before explaining, let’s see what tokens we can use as collateral.

1. aPolUSDT
2. aPolDAI
3. aPolUSDC

What are aPolDAI, aPolUSDC & aPolUSDT Tokens?

aTokens are Aave tokens minted and burnt upon supply and withdraw of assets to an Aave market, which denote the amount of crypto assets supplied and the yield earned on those assets. The aTokens’ value is pegged to the value of the corresponding supplied asset at a 1:1 ratio and can be safely stored, transferred or traded.

That means when you hold a aTokens their number increase. Now, you can use aTokens as collateral and borrow NXUSD, which you can deposit in the Nereus Finance Earn module and receive very lucrative APY%.

With this option, you can receive rewards on Aave and receive rewards on NXUSD when you deposit it in Nereus Finance Earn Module.

So, you will earn rewards in Aave and Nereus Finance with the same collateral. You got to be aware that when you deposit, for example, aPolUSDC in the NXUSD market as collateral, your collateral will not be visible in Aave until you withdraw it back from the Nereus NXUSD market.

Fixed 12% APY

NXUSD market on Polygon blockchain offers all users a fixed 12% APY. In this market, there is no need for any additional action.

What is NXUSD?

NXUSD is a over-collateralized ERC-20 standard token on the Avalanche and Polygon blockchain, pegged to USD, that is minted by the Nereus Finance decentralised platform. Nereus uses multiple tokens as collateral to mint NXUSD, and is fully collateralized, meaning the circulating supply is pegged more than 1:1 to the collateral asset. This over-collateralization makes it more secure and ensures the price remains stable. Notably, Nereus offer 0% interest to protocol participants that borrow from the platform. NXUSD will be minted in smart contracts, and there’s an origination fee for borrowing as low as 0.5% with competitive loan-to-value (LTV) ratios.

What are NXUSD’s Key Benefits?

First and foremost, NXUSD offers a best-in-class borrowing experience on the Avalanche blockchain, as well as:

• Maximum capital efficiency — Nereus allows users to borrow up to 90% LTV, unprecedented compared to other DeFi borrowing protocols. This makes borrowing highly capital efficient and allows for up to x10 leverage on investments.
• 0% interest rate — you can borrow crypto without accruing interest
• One-time borrow fee — Nereus charges a one-time borrowing fee as low as 0.5%
• Spend, earn and redeem every day — Nereus has leveraged its longstanding relationship with crypto payments platform, Wirex, to allow NXUSD to be spent at over 80 million vendors globally using their crypto-enabled debit card. With instant payments at point-of-sale, you’ll be able to utilize this in day-to-day life.