NX Finance X Jupiter Integration

Project description:

NX Finance is the first protocol to seamlessly integrate AirdropFi and yield aggregation on Solana. Our vision is to position NX Finance as the central nexus on Solana, seamlessly integrating the entire ecosystem by the core of “Leverage”, “Yield”, and “AirdropFi”.

One-liner: Leverage farm airdrop or yield in Solana

What can users do on your project?

Leverage JLP yield: employ $JLP as collateral to procure USDC loans, with the option to leverage up to 5X their $JLP assets.

Thread about JLP: x.com

Lend USDC: deposit USDC to earn a secured yield, profiting from the earnings generated by its leverage strategy while providing borrowers the opportunity to significantly boost their returns.

How is this integrated with Jupiter?

NX Finance is intricately designed to integrate seamlessly with Jupiter’s JLP protocol. By leveraging JLP, we offer users enhanced yield opportunities through strategic leverage and lending. Our platform not only benefits from Jupiter’s robust liquidity but also contributes to its growth by driving substantial trading volumes and increasing the overall utility of JLP.

We also allow jupSOL as collateral in different leverage strategies.

Team:

  • The team hails from Hong Kong, with the founder being an alumnus of The Hong Kong University of Science and Technology (HKUST).

  • Comprising a dedicated team of 8 full-time members.

  • Previously engaged in the development of an NFTfi project called Furion before pivoting towards the establishment of NX Finance.

Founder:

vision

Why did you build the project?

We have found some product-market fit in Solana DeFi.

In Solana, we have some yield-bearing assets, like $JLP/FLP/LST. Moreover, some projects are using a point system to incentivize their community. Some degens believe the token and airdrop opportunities are huge and would like to capture the largest exposure with the highest capital efficiency. This is great to match them with risk-averse users.

We believe we can redistribute to users with different risk tolerances, which we can learn from a great project - Pendle.

How does your project fundamentally change the web3 space?

NX Finance is dedicated to democratizing access to advanced DeFi strategies, with a focus on expanding high-yield opportunities and leverage strategies to a wider user base. Our goal is to reduce entry barriers for newcomers and enhance overall engagement in the DeFi ecosystem, fostering a more inclusive and diverse financial environment within web3.

What are your upcoming plans for the project?

Leverage FLP1 Yield: Allow up to 5X leverage to farm the liquidity provider in FlashTrade, which is a PerpDex

LST Collateral: Offering different liquidity-scaled tokens (LST) as collateral on our platform in order to boost the staking narrative. Some examples of LST are JupSOL, INF, vSOL, and sSOL.

Leverage Airdrop Strategy: Allowing users to borrow assets and deposit them into different protocols to farm more airdrops.

I live the idea of creating leveraged returns for JLP, but I’m noticing that people seems hesitant to try out NXFinance because they believe the UI/UX is too similar to that of Jupiter, and are concerned it is a scam. Have you given any thought to this effect, or how to notify users of the relationship between Jupiter and NXFinance?

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