Nord Finance launches Nord Savings V1 with its Liquidity Mining Program
At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem to serve the rising needs targeting novice users and professionals to meet their financial goals.
Today we are thrilled to announce that we are launching Nord Savings V1 on Ethereum network.
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.Read more about How Does Nord Savings Work — Part 1
First step towards bringing the full-fledged Nord Savings product is to pool the liquidity from multiple users and once we have enough liquidity onto the platform, we will be enabling yield farming strategies for better APY. Read more about How Does Nord Savings Work — Part 2
To begin with, we are launching the Nord Liquidity Mining program for our platform users. Nord Savings users will be able to deposit stable coins ( USDT , USDC and DAI) into our platform and earn attractive APY rewards for contributing to the network without being worried about impermanent loss of their crypto assets.
Introducing Nord Savings V1 Liquidity Mining Program:
Platform users will be able to participate in the public liquidity mining program by accessing the Nord’s interface via https://nordfinance.io commencing from February 19th at 12:00PM UTC.
Please follow step-by step guide to participate in liquidity mining program at http://bit.ly/NordSavings_Guide
For facilitating pooled liquidity aggregation mechanisms, liquidity contracts are the significant phenomena to transform the vision to reality. The incentivized liquidity pools are instrumental in driving upfront Total Value Locked in the initial phases. Whereas the front-loaded liquidity will be driven to different lending platforms when yield farming strategies are enabled in Nord Savings.
During this liquidity mining program Nord Savings users will be able to deposit stable coins ( USDT , USDC and DAI) into the smart contract and receive respective nTokens (nUSDT/nUSDc/nDAI) in return. By holding the nTokens (nUSDT/nUSDc/nDAI) tokens, users are rewarded with $NORD governance and utility token.
Remember to not move any of your nToken (nUSDT/nUSDc/nDAI) token from the wallets, otherwise users may fail to earn $NORD rewards.
A total reward pool of 1,000,000 $NORD will be distributed under incentive programs, including yield farming, staking, and liquidity pools over 12 months.
Note: NORD Savings V1 has 0.5% entry load on the stable coin deposits , there is no exit load. There is NO performance fee during liquidity mining program.
On the mainnet launch of Nord Savings V1 on Ethereum Network, the assets deployed in the liquidity contracts will be instrumental in mining Nord and executing yield farming strategies. The technological front is designed with a generalized architecture framework in mind. Our community will be able to participate in the yield farming strategies without facing technical complexities. Read more about How Does Nord Savings Work — Part 3
Nord Savings V1 smart contract successfully concluded its security audit in collaboration with Zokyo. The code’s functionality was intricately reviewed by the Zokyo team, thus employing the Truffle testing framework. Can read more about the Audit.
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