Strengthening Nereus Finance: Adjusting NXUSD Rewards and WXT Locking for a Sustainable Future
Strengthening Nereus Finance: Adjusting NXUSD Rewards and WXT Locking for a Sustainable Future
Introduction:
We are announcing an important update that will contribute to the long-term sustainability and growth of the Nereus Finance ecosystem. You all know that Nereus Finance had 20% APY for people who locked WXT in Nereus. We had these big rewards for more than a year.
As we continue on our mission to create a robust decentralized finance (DeFi) platform, we are making adjustments to the NXUSD rewards program and WXT locking requirements. These changes reflect our commitment to building a stronger foundation while fostering increased participation from our valued Nereus Finance community.
Gradual Adjustment of NXUSD Rewards:
After careful evaluation and consideration of market conditions, we have made the decision to lower the APY (annual percentage yield) for NXUSD rewards. While the previous 20% APY has been highly rewarding, we believe it is crucial to adapt to the evolving market dynamics. Effective from the 17. July. 2023., the NXUSD rewards will be adjusted to 16% APY. This adjustment ensures a sustainable and fair distribution of rewards, aligning them with the current market landscape.
Increasing WXT Locking:
In addition to the changes in rewards, we will be implementing an increase in the WXT locking requirement. This adjustment aims to incentivize our community members to actively engage and participate in the Nereus Finance ecosystem by holding and locking their WXT tokens. By increasing the WXT locking, we foster a more committed and dedicated community, reinforcing the stability and growth potential of the Nereus Finance ecosystem.
The Benefits of Adjustments:
While adjustments may initially raise questions, we want to emphasize the positive impact these changes will have on Nereus Finance and its community. Gradually aligning our rewards with market conditions ensures the long-term sustainability and viability of the Nereus Finance ecosystem. It also mitigates potential risks associated with unsustainable reward structures, fostering a healthier environment for all participants.
The increased WXT locking requirement serves multiple purposes. It enhances the stability and liquidity of the ecosystem by encouraging community members to hold and lock WXT tokens. Furthermore, it cultivates a stronger sense of commitment and engagement within the Nereus Finance community, driving collaboration, feedback, and active participation in the growth and development of the platform.
Conclusion:
At Nereus Finance, we remain dedicated to building a robust and sustainable DeFi ecosystem that empowers our community members. The adjustments to the NXUSD rewards program and WXT locking requirements are strategic steps toward achieving this goal. We believe these changes will strengthen the foundation of Nereus Finance, encourage responsible participation, and position us for long-term success in the ever-evolving DeFi landscape.
We appreciate your continued support and understanding during this transition. Rest assured, we are committed to transparent communication and further enhancements that will enrich your Nereus Finance experience.
These changes will take effect at 17. July.2023. Please make sure that you correct your WXT locking so that you would not fall into the Tier 2 category.
