How Does Nord Savings Work — Part 1
Introduction to Nord Finance
Nord finance is an advanced decentralized financial ecosystem designed to simplify DeFi investing by bringing key features of traditional finance to the DeFi ecosystem.
Designed as a block-chain agnostic platform with multi-chain interoperability, our aim is to offer users easy access to a plethora of financial products including, but not limited to, yield-farming aggregation, funds management, robo-advisory and loans against assets.
At Nord Finance we are building a one-stop advanced decentralized financial ecosystem for all investments needs of its users to meet their financial goals. Within the Nord Finance ecosystem, we are building 4 key products:
Nord Savings:
Delivers the highest possible risk-adjusted returns for stable coin investments through multi-chain yield-farming. Nord Savings provides an easy-to-access gateway to the complex and dynamic world of DeFi based Yield-Farming. To deliver the highest risk-adjusted APYs, To assess protocol risk, Nord Savings leverages the DeFi Score framework. We have built our own proprietary algorithm above the DeFi score framework to assess risk
Nord Advisory:
Understands the user profile and their investment requirements basis their financial goals. Our robo-advisory is designed to offer customized investment solutions. Our technology chalks out customized investment strategies for the users and deploys their stable coins using our proprietary algorithm in a goal-oriented diversified portfolio. The data-driven proprietary algorithms help users build a smarter portfolio to achieve their financial objectives.
Nord Loans:
Allows users to Leverage their Crypto investments to avail loans to meet any unforeseen expenses. By pledging their crypto investments on our smart contract users can avail an instant over-collateralized loan to meet their financial needs. Nord Loan is a personal overdraft facility where the users pay interest only when they withdraw the amount. Nord Loans is a hassle-free way to get funds without liquidating your assets.
Nord Swap:
Nord Finance is designed to be ethereum compatible, blockchain agnostic and a multi-network universal protocol to enable exchange and interaction of digital assets. The protocol offers multi-chain asset swaps facility to its users
Over the course of this 3-part article series we will explain how Nord Savings simplifies De-Fi Investing and delivers the highest risk-adjusted APY with near zero transaction fees.
How Does Nord Savings Work — Part 1
In its current state, De-Fi investment is complicated. The savvy investors (whales or technically adept) can invest in customized yield-farming strategies to deploy their capital and maximize their returns. However, most investors neither have access to customized strategies nor have the time to do in-depth research required to make consistently high APY.
Let’s understand this with the De-Fi Journey of a typical investor.
Consider 2 investors — Jack & Jessica — with 1000 USDT in their wallets for yield-farming.
Jack ‘s — Yield-Farming Journey
Jack wants to use traditional yield-farming. Let’s see what steps he has to follow to get a high APY on his investments:
Step 1: Jack needs to have enough Ether in his wallet for gas fees. In case he doesn’t have enough Ether, he needs to send USDT to an exchange, buy Ether and send back to his wallet.
Step 2: Jack now needs to spend time to identify the ‘right’ pool for his investments across multiple lending platforms.
Step 3: To identify the ‘right’ pool, he needs to shortlist pools, assess pools’ APY trends and finalize quickly before the APY drops due to Farmer Saturation.
Step 4: Additionally, he needs to do in-depth research about the pool to ensure that the pool is genuine and not a rug-pull — critical to ensure favorable risk vs. reward.
As research is a time-consuming activity most investors end up entering a pool late and earn lower APYs compared to the savvy investors who get a first-mover advantage.
Step 5: Assuming Jack is able to satisfactorily complete Step 3 & 4 he can invest in a pool of his choice. As APYs are dynamic Jack needs to constantly track his portfolio and re-start the process if APYs drop below his expectations.
Jessica’s — Journey : The Nord Experience
Instead of choosing traditional yield-farming, Jessica decides she wants to use Nord Finance with the 1000 USDT in her wallet.
All she needs to do is to connect her wallet to the Nord Finance app and enjoy the high yield returns on the go. A few benefits offered by Nord Finance over traditional yield-farming approach for a typical investors are:
1. No Upfront Gas Fees: Jessica doesn’t need to hold any Ether in her wallet. Nord Finance’s Smart Contract is designed to absorb the upfront network fees and adjust it in the final APY.
2. High Returns: Nord Finance automatically identifies the best yield-farming strategies to deliver the highest returns to the investors.
3. Easy to Track: Nord Finance’s detailed dashboard offers real-time portfolio updates.
The Nord Finance Advantage:
- Stable-coin based yield-farming — USDT, DAI, USDC, BUSD and others.
- No Upfront Gas Fees — No Ether, No Exchange, No Multiple transactions.
- Highest risk-adjusted returns — your personal fund manager.
- Efficient time management — No Hassle, No Research.
- Level playing field — Savvy investor’s yield farming strategies accessible to all.
To Be Continued…
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