[DEFI][ANN] Nimbus - Established FinTech Company. DAO-governed ecosystem.

[nimbusplatform.io]

👋Hey Nimbus Community, 

As promised in the last #NimbusGlossary edition,  we present you with the term - ✨Proof-of-Stake (PoS)✨

Here are some key facts on PoS:

✅ Unlike its counterpart Proof-of-Work, PoS is considered a more energy-efficient consensus mechanism. It requires relatively less computation power, a low barrier to entry costs, etc.

✅ PoS also makes the mechanism less vulnerable to cyberattacks by design since it will also negatively affect the miner's interest (the malicious miner also has tokens locked as collateral) who initiated the attack. Moreover, the person attacking the network will have to own 51% of the stakes. The network also incentivizes to keep the network secure and healthy.

✅ Becoming a validator means accepting significant responsibility and possessing a high level of technical expertise. 

✅ For instance, the minimum amount a validator should stake is relatively huge (For ETH 2.0 minimum staking amount is 32 ETH).

[nimbusplatform.io]

👋Hey Nimbus Community, 

Didn’t get enough time to fulfill the terms of the Dubai Contest? We have great news for you! 

We have extended participation till February 28th!

You have ~24 more days to:
✅ Reach up to 30,000 BUSD turnover of your 1st line or Rank 21 (group turnover) on NBU Staking volume via the Nimbus Affiliate Program
Or 
✅ Reach a Staking volume of up to 45,000 BUSD of your 1st line to get you and your partner on board to the land of wonders

🔹More info and participation details here! 👉https://link.nimbusplatform.io/269ad4

Don’t miss out! This is your chance to fly to the land of wonders for free!✈️🌇

[nimbusplatform.io]

✋Hey Nimbus Community,

Nimbus’s latest audit report run by Certik has been officially updated on the Certik Website.

The audit is a security assessment of the Nimbus Codebase.

For more details and statistics, go here! 👉 https://link.nimbusplatform.io/mab

[nimbusplatform.io]

✋Hey Nimbus community,

🥇 Did you know that the US government now holds $4 billion in Bitcoin? It is almost double Tesla’s wallet! It is forecasted that as long as cryptocurrency-related crimes continue to grow, the US government’s crypto pockets will get bigger too. The question then becomes, can the government’s funds beat the Grayscale Bitcoin Trust, which has $27.93 billion, and MicroStrategy, which holds $5.43 billion worth of BTC? https://www.fxempire.com/forecasts/article/how-does-the-us-government-hodl-more-bitcoin-than-tesla-893442

🙊 In terms of crypto integration, this time Apple stood out. Long story short, the company has presented a new Tap to Pay on iPhone feature, which raises hopes of on-device crypto transactions in the near future. Although it is not to become available until later in 2022, its launch has led to speculation that it will also unlock the ability to buy using cryptocurrencies via the new system. Dispute the fact that the new ability will only be available in the US on its release — it is a big step for the industry. https://www.notebookcheck.net/Apple-s-new-Tap-to-Pay-on-iPhone-feature-raises-hopes-of-on-device-crypto-transactions-in-the-near-future.598472.0.html

🍔 Talking about NFTs, McDonald’s has just recently filed trademark applications for virtual goods, services, and even virtual restaurants and cafes. Are you ready for some meta burgers? https://www.forbes.com/sites/masonbissada/2022/02/09/mcdonalds-files-trademark-for-metaverse-based-virtual-restaurant/

👼 Last but not least, Gucci announced that it will launch its own virtual world on digital real estate platform The Sandbox, as it expands its presence in the metaverse for its Gen Z-focused platform Gucci Vault. The brand has even purchased an undisclosed amount of land on The Sandbox, which lets people and brands buy and develop virtual real estate. Gucci and The Sandbox will create an interactive fashion experience based on Gucci Vault. https://www.voguebusiness.com/technology/gucci-plans-virtual-world-for-gen-z-on-sandbox

[nimbusplatform.io]

We’re excited to release the Nimbus Mobile App 3.0 update!

Here’s what’s new:

🏆 Mint your Smart LP n-NFTs without going through unnecessary steps. It takes one click to start generating yield into your MetaMask wallet

🏆 Easily track the rewards of your n-NFTs, save on gas fees and redeem your assets any time

To use this dApp select Binance Smart Chain network in your crypto wallet.

Only available on the Google Play Store

Test and send your feedback here with "mobile app" in the subject line

[nimbusplatform.io]

👋Hello Nimbus Community,

The Nimbus Affiliate Program Trip-To-Dubai Contest has come to an end. Today, Feb 28th was the last date of participation.

We'd like to thank all of you who participated in the event!🙏

We're excited to meet the contest winners in Dubai soon…🙌 March 13th, to be exact!

And to all our Affiliate Program members who missed the contest or couldn't clear the levels in time... fret not! We'll be back with even more thrilling events soon.

Until then, Stay tuned and keep Staking!😎

P.S.
Tomorrow, all winners will be added to the chat in Telegram where they can ask questions regarding the trip and any other details they are interested in. All relevant information about the meeting in Dubai will be also added there.

[nimbusplatform.io]

🚨Important Update!

You must have noticed the inaccurate APRs on the Lend and Borrow dApps. We were aware of this issue and have been testing the smart contracts to identify the root cause behind it. Ever since the bug was identified, all hands have been on deck to address it. 

Today, we're here to brief the community on the bug and its after-effect.

We must go back a bit in time to understand the bug and what after-effects it caused:

⚫️ The Lend/Borrow dApp was launched in Aug 2021

⚫️ The price feeds for BUSD/BNB provided by Chainlink and that of NBU/GBU provided by Nimbus were prematurely updated to the production, which then caused the bug, and the error remained in the system for 8 hours. All four pools, including BUSD, BNB, NBU, and GNBU were affected by the bug.

⚫️ Due to this oversight, the loan to value ratio was such that it was possible to take out a loan of 100 BNB using less than 1 GNBU as collateral. That paints a picture of the eventual imbalance between the amount borrowed & the amount supplied.

⚫️ Back in Sept 2021, when the system accepted the loan (with the wrong collateral), the loan was accepted for 90 days since that was the primary condition set by the user.

During the span of these 90 days, the system did not catch that there was a misalignment between loan and collateral. However, after the end of this time period, which was in Dec 2021, when the imbalance had escalated, the system began calculating inaccurate APRs. In Jan 2022, interest was accrued on these loans, leaving us where we are now.

As soon as we noticed the irregularities, we began working on the bug extensively and even adjusted the amount of liquidity in the Testnet. However, even a stimulated replenishment of the pool failed to correct the rates on the dApp. As of now, we've figured out the solution to this bug, which is further elaborated as:

✅ For the rewards incorrectly accrued due to the bug, we aim to construct a script to calculate the sum of those rewards that users of the Lend and Borrow dApps received less out of the total sum. Since the process is extensive and complex, the resolution time could be around 2 weeks, after which we’ll be back with more updates.

✅ We will temporarily suspend the Lend and Borrow dApps until the end of March. During this period, we'll fix the bug and reissue the smart contracts. We also have solid advisors with expertise in lending-borrowing, aiding alongside to expedite the process as much as possible.

✅ The Lend and Borrow dApps is one of the key underlying mechanisms of the Smart LP NFT. To ensure that the n-NFT related operations are not affected while we fix the bug, we're also exploring the feasibility of sending 30% of the supply to the most enterprising lending-borrowing platforms.

We admit that this event has caused unnecessary inconvenience to our users and could have been avoided. To help make it better, we're utilizing all resources to correct this event from its very root cause. 

Thank you for your patience as we bring the order back to the platform and get back to you with more updates🙏

[indo1]

I see your project is quite complete as a DeFi project and it also looks like the project you are developing has lasted more than a year.
Usually I see DeFi projects can't even last even 3 months, Nimbus seems to have an advantage over other DeFi,
but strangely this project is not yet popular even though I'm sure your project is the best project.
I would like to know, what are your plans in the near future to attract the community to your project?
are you still focused on developing Nimbus Dapps so finish them first before promoting them to attract the community?

[nimbusplatform.io]

⚠️ Important update on the Lend and Borrow dApps! ⚠️

As a vital step in bug resolution, we’re implementing the following temporary changes to the Lend and Borrow dApps.

As we continue to resolve the Lend and Borrow bug, we wanted to update the community on the recent progress. 

For the Borrow dApp:

☑️ Borrowing new loans & extending existing loans has been ceased temporarily

☑️ Only repayment function for existing loans remains active 

For the Lend dApp:

☑️ Deposit withdrawal has been ceased temporarily

☑️ The rewards for existing lenders are being calculated, keeping the conditions for reward calculation the same as when operations were functioning normally 

☑️ Once the calculation concludes, liquidity will be injected into the pools, and deposit withdrawal will begin functioning once again. Reward accrual will resume at the same time.

⏳The bug resolution time is being estimated until the end of March.

✅ The bug has not affected or implicated the n-NFT functionality, and it continues to function optimally and unhindered!

[nimbusplatform.io]

🚀 Livestream alert!

A community adored event is happening again. We are happy to announce another live stream with Alex Lemberg, the CEO of the Nimbus Platform!

⏰ Save the date on Thursday, March 31, at 6:00 pm UTC.

Alex will talk about the news and updates of the first months of 2022, future plans, and more. Don't miss it out!

[nimbusplatform.io]

👋 Hey Nimbus Community,

Gentle Reminder - The Livestream with Nimbus CEO Alex Lemberg begins in 24 hours!

Date: March 31 at 6 PM UTC

Don’t miss out on the valuable insights shared during the stream!

▶️ Link will be shared right before the event, so stay tuned.

[nimbusplatform.io]

👋 Hey Nimbus Community, 

The Nimbus Affiliate Program v3.0 has been updated to version 3.1.

If you thought the 5 different rewards already made the Program so worthwhile, this update will surprise you!🤩

Check it out here! 👉https://nimbusplatform.medium.com/v3-0-to-v3-1-nimbus-affiliate-program-upgrade-45a883f6a4a5

[nimbusplatform.io]

✋Hey Nimbus Community,

🥷Starting this week, U.S. customers of Cash App will be able to automatically invest a portion (or the entirety) of their direct-deposit paychecks into Bitcoin. Soon, users will also be able to invest their spare change into cryptocurrency. https://www.forbes.com/sites/ninabambysheva/2022/04/07/cash-app-users-can-now-invest-their-paychecks-into-bitcoin

☺️ The Philippines-new crypto hub? PayMaya, a local digital financial services platform, now allows its users to buy and earn digital assets. In the long term, the startup aims to provide a full-suite experience for crypto buying with the new feature. https://www.techinasia.com/tencent-backed-paymaya-rolls-crypto-feature

🤑The UFC launches Bitcoin payouts to the top three fighters on every pay-per-view event, with a total of $60,000 split between the winners. It has also increased the share of the money that athletes see in the growing world of NFTs from 30% to 50%. https://www.bloomberg.com/news/articles/2022-04-07/ufc-to-start-paying-bonuses-to-fighters-in-cryptocurrency

🥳 CME Group, the world's leading derivatives marketplace, has presented 11 new crypto-reference rates and real-time indices. Thus, it plans to increase confidence and accuracy when managing cryptocurrency price risk or creating structured products like ETFs. https://www.prnewswire.com/news-releases/cme-group-and-cf-benchmarks-to-launch-11-new-cryptocurrency-reference-rates-and-real-time-indices-on-april-25-301519757.html

🤩 Coinbase finally expands to India. The CEO of the world's second-largest exchange announced that the company is making "a long-term investment" in the country. To achieve its goal, Coinbase plans to hire 1,000 people in India at its tech hub by the end of the year. https://www.coindesk.com/business/2022/04/07/coinbase-starts-crypto-trading-services-in-india

[nimbusplatform.io]

👋Hey Nimbus Community, 

Making a living by playing games! 

Sounds like a far-fetched dream? Well, for many users, it's a reality thanks to 🎮 Play-to-Earn Games!

The gaming industry has surely evolved from Play-to-Play ⏩ Free-to-Play ⏩ Play-to-Earn. In the traditional sense, people could earn different types of in-game items long before P2E was popularized. 

Why has the concept exploded only now?

The key to the P2E explosion is blockchain technology and crypto, which have some unique advantages and utilities for players, such as NFT and true ownership.

One of the biggest Play-to-Earn pioneers is Axie Infinity. Other leading Play-to-Earn platforms include Decentraland, The Sandbox, Gods Unchained, and more!

The gaming market, in general, has caught momentum, and the statistics speak of it:

In 2021 Bitkraft (https://www.bitkraft.vc/gaming-industry-market-size) predicted that the gaming industry would soon witness a boom, with over 3 billion players joining the guild. Newzoo, a top gaming research and data platform, has reported that the gaming market has witnessed steady annual growth, and with this rate, the market can easily reach a revenue of $200B and 3B players by 2023.

Combining the total market cap of the current top 10 on-chain pay-to-earn games (https://www.coingecko.com/en/categories/gaming) (including Axie Infinity, Enji Coin, Sandbox, Ulta, Atari, Gala, and more) of in-game revenue can easily appreciate by 77%.

To that end, sizing up the gigantic potential of play-to-earn games and how it is shaping the gaming industry makes it safe to say that P2E is not a short-term trend, and it could evolve in a sustaining market created based on reasonable use cases. 

[nimbusplatform.io]

Important roadmap update:

As a part of a roadmap update for 2022, we will be introducing a number of changes aimed at stabilizing the NBU token value in the long term.

Some of these steps include:
✔️Developing strategies that stabilize our economy and increase the token value floor
✔️Reconstructing token value floors for Affiliate Program
✔️Enhancing marketing efforts
✔️Refactoring and upgrading Nimbus dApps and functionalities over time in line with market movement
✔️Partnerships
✔️Introducing a range of hybrid NFT-based instruments on the Nimbus Platform

With this new rationale, we aim to bolster the stability of not just the NBU and GNBU tokens but of the whole ecosystem. Additionally, as these efforts supplement a potential uptrend in the token values, Nimbus users and the token holders will be able to discover new avenues to accumulate and hold NBU and GNBU tokens.

[nimbusplatform.io]

👋Hey Nimbus Community,

The crypto space generally proliferates at a dramatic rate. It is unfeasible to keep track of every asset there is 😖

A much better approach is filtering the assets you are interested in from the noise. If that seems relatable to you - a “watchlist” is a must-have tool in your inventory.

But the thought of making your own watchlist sounds cumbersome?

Well, crypto tracking platforms such as CoinGecko and CoinMarketCap have made the art of watchlist - effortless.

In order to create your own watchlist, you simply look up the asset on these tracking platforms and click on the “star” ⭐, which is usually present right beside the asset ticker.

Moreover, things are about to get very exciting with upcoming updates on the Nimbus Platform. In that case, you’d want to keep your eyes on the NBU/GNBU tokens in your bag by adding them to your watchlist -

NBU
👉CoinGecko: https://www.coingecko.com/en/coins/nimbus
👉CoinMarketCap: https://coinmarketcap.com/currencies/nimbus/

GNBU
👉CoinGecko: https://www.coingecko.com/en/coins/nimbus-governance-token
👉CoinMarketCap: https://coinmarketcap.com/currencies/nimbus-governance-token

[nimbusplatform.io]

🚨 IMPORTANT TECH UPDATE 📲

The APR on the LP Staking contract will be downgraded.

In particular, one of the steps to be undertaken to stabilze the Nimbus Platform economy is the LP Staking APR reward reduction.

✅ The change will endure all pairs, but this time NBU/GNBU will suffer the most - APR on this pair will be downgraded from 100% to 0%. This is due to the fact that the NBU/GNBU pairs are being used by the bot that leverages token prices across two different markets.

✅ Moreover, rewards will not be accrued to the share of LP tokens from NBU/GNBU liquidity pairs added to LP Staking via Nimbus Swap or PancakeSwap.

✅ Users who have injected liquidity into NBU/GNBU pairs can continue to receive rewards by transferring their liquidity into NBU/BNB or GNBU/BNB pairs and maintaining it.

In a future roadmap update, we will share our plans for project's ecosystem and functionality improvement. This APR downgrade is the strategies' implementation aimed at stabilizing the overall economy of the Nimbus Platform.

[nimbusplatform.io]

Hey Nimbus Community,

Yesterday, a tech update announced a change in the LP Staking APR rates, specifically influencing the NBU/GNBU pair.

After implementing the update, the rewards on the users' dashboard were not being displayed correctly. This is a technical issue and the tech team is addressing this concern as we speak.

Users’ rewards that were accumulated during the LP Staking period under the previous APR have already been sent to the users' wallets via the airdrop.

It is essential to mention again that the current measures are aimed at stabilizing the Nimbus Platform's economy and enhancing the project's functionality improvement.

Thank you for your patience and support. We apologize for any inconvenience caused due to the announcement and the tech implementation 🙏

[nimbusplatform.io]

👋Hey Nimbus Community, 

What happens if there is an NFT you really wish to acquire, but its cost is too overwhelming?😫

This is where F-NFTs open new horizons! 😎 Don’t know what that is❓

Fret not, today’s segment of the Nimbus Glossary is covering ✨F-NFTs✨

F-NFTs have created a revolution that opened new horizons in the NFT sector. Some more benefits of NFT fractionalization are:

✅ Price Discovery: F-NFTs can help users assess the market value of the NFT quickly. 

Suppose you have digital painting and you wish to assess its market value. All you need to do is fractionalize that NFT and sell a fraction of it on the market.

✅ Liquidity: NFT fractionalization solves the liquidity issues that come with NFTs. When selling a high-priced NFT, you need to rely on the collectors who can acquire such a high-value asset. But with F-NFTs, you can segregate the ERC-721 token into multiple ERC-20 tokens and sell each token individually. Hence, one can generate a lot of interest for the asset and address the liquidity issue to a large extent.

[nimbusplatform.io]

👋 Hey Nimbus Community,

You may be wondering - Where are the Lend/Borrow dApps?🤔

The wait is over…🙌

The Lend and Borrow dApps were relaunched today, on May 2, 2022.

What’s new within the Lend/Borrow dApps?

General update:
✅ The APR bug has been fixed

For lenders:
✅ Lenders can now withdraw their previous NBU, GNBU, BNB and BUSD deposits
✅ Lenders can make fresh deposits to get rewards in BNB and BUSD tokens only

For borrowers:
✅ Borrowers can redeem previous NBU, GNBU, BNB and BUSD loans
✅ Borrowers can take out new loans in BNB and BUSD only

❗Note:
As you can see, NBU and GNBU deposits have been disabled from the dApps. As a part of the NBU and GNBU tokens' value stabilization/uptrend strategy, we wanted to prevent the additional unpredictive pressure that NBU and GNBU loans create on the existing system.

Although this appears to be relative only to the Borrow dApp in hindsight, it affects the Lend dApp as well, as both systems are interdepend on each other since they operate on the same liquidity pool.

More details will be released soon, so, stay tuned! 😉