Nereus will be Launching on the Avalanche Network

Last week, we announced that we would be launching a brand new, game changing DeFi protocol, Nereus.

Having recognised the growing importance of the metaverse and Web 3.0, we identified user’s needs from a protocol and a gap in the DeFi market. We’re aiming to build on the shortfalls of existing protocols, to add improved characteristics and better governance that we believe will enable everyone to have easier access to the benefits of DeFi.

To do this, we have strategically decided to launch the protocol on the popular, well-respected, Avalanche network.

What is Avalanche?

Avalanche (AVAX) is a highly scalable smart contract-capable blockchain platform that offers a huge range of benefits, without compromising on decentralisation or levels of security.

It aims to address problems with congestion found on other blockchain such as Bitcoin, Solana and Ethereum, causing high fees and slow transaction speeds, which has been impacted by growing demand for crypto, DeFi and NFTs. Although there’s been a lot of interest in Layer 2 solutions built on top of the Ethereum blockchain, these still have their problems with security. Enter: Avalanche.

Avalanche remains on Layer 1, but addresses these underlying issues. In fact, Ava Labs, the founders and developers of Avalanche, claim they’ve built the fastest smart contract blockchain platform to date by using 3 different blockchains at once. Each blockchain is specialised to focus on a certain task — decentralisation, security, scalability — to keep it agile.

Why we chose Avalanche?

Avalanche has been designed to be faster, cost-effective and eco-friendly.

These advantages align with our aims for creating Nereus, where we recognise that there are considerable issues with existing networks and protocols that are limiting users experience.

In fact, Avalanche processes roughly 4.5k transactions a second, with the potential for up to 20k, compared to Ethereum which processes 15–20.

We believe that unless these problems are addressed, it could hinder a mainstream digital economy from ever being realised, and a 1 second transaction time to finality that Avalanche currently offers represents near-world conditions.

At Nereus, we stand for honesty, openness and rapid development to serve the millions already seeking safe and secure DeFi products, and we believe that building the protocol on the Avalanche network will help us achieve this.

What’s more, they’ve already got a great reputation, having received $230 million in investment recently. Although Ethereum is still leading the blockchain race with $158 billion TVL, Avalanche is catching up with a respectable $2 billion+ TVL, and has some of the leading names in the blockchain space such as Curve and AAVE already using the network.

With the launch of Nereus round the corner, we’re excited to work with Avalanche to help us do so.

For more information about Nereus, read our whitepaper here.