Nerve is an automated market-maker (AMM) on the Binance Smart Chain (BSC) designed for low-slippage trading of stablecoins and other pegged assets.
Nerve launched its signature 3Pool with a basket of dollar-pegged stablecoins consisting of BUSD, USDT and USDC. The protocol has since established an fUSDT metapool and pegged BTC and ETH pools in service of its cross-chain Nerve Bridge, as well as an rUSD metapool in collaboration with Ramp DeFi and a UST metapool in collaboration with Terra. More pools are constantly in development, and projects are welcome to apply to develop a metapool with Nerve through the BUIDL program.
Nerve is non-custodial, meaning the Nerve developers do not have access to your tokens.
Swap between stablecoins on Binance Smart Chain with the lowest possible slippage.
Trustlessly transfer up to $30M in ETH or BTC or $5M in USDT to or from BSC using the Nerve Bridge.
Earn the NRV governance token as a reward for providing stablecoin liquidity in Nerve's signature 3Pool or its metapools, or for providing BTCB or ETH to deepen liquidity for the Nerve Bridge. All present some of the best yields in DeFi for premier pegged assets.
If your willingness to risk impermanent loss is a bit higher, you can also provide liquidity for the NRV governance token itself in the NRV/BUSD pool on PancakeSwap to earn more rewards.
After wrapping your tokens to provide liquidity to whichever pool you choose, be sure to stake your LP tokens in the right pool to earn your NRV.\
Collateralize the NRV governance token to secure a non-liquidatable stablecoin loan via Ruler Protocol, or lend your stablecoins to earn NRV, RULER, Ruler swap fees, interest, and access to forfeited collateral.
Let us say you are a DeFi user looking to swap $100,000 USDC to BUSD. Using PancakeSwap ($10B+ TVL), the largest AMM on Binance Smart Chain, you'd receive $99,396.6 - losing $603.4 in value. If you had used Nerve instead, you'd receive $99,999.7 - almost zero slippage. Nerve's swapping algorithm is specifically designed for pegged assets, and as a result it is much more efficient than an AMM such as PancakeSwap that is not optimized to do so.
Until now, there was no way to trustlessly bridge funds into or out of BSC, with the main method of transfer being through the centralized, custodial Binance Bridge. In addition, the Binance Bridge imposes strict transaction limits that severely decrease its utility for many users. Taking advantage of Nerve's reputation for secure, deep liquidity, the Nerve Bridge was established to allow users to transfer large sums of ETH, BTC, or USDT (ERC-20) between BSC and their respective networks with minimal cost for the convenience.
Nerve was launched on Binance Smart Chain because BSC allowed us to achieve what we hold as the true values of DeFi: the democratization and access of finance without restrictions. Current gas fees on Ethereum have priced out 99% of potential DeFi users. Despite the promise of decentralized networks, a protocol obsessed with the user experience cannot afford to base itself on Ethereum at this point in time. However, unlike many recent projects focused on optimizing the short-term, we are building Nerve to create a long-standing centerpiece of not just the BSC ecosystem - but across all of DeFi. BSC is just the start.
TLDR: Faster. Cheaper. Cross-chain.