NX Finance X Jupiter Integration

Community Jupiter Integrations
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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.

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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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What is your connection to Furion Global Capital Ltd.? According to your Terms of Services NX Finance is a product of Furion.

A quick research showed that there are several serious experiences that users of Furion’s platform shared online. Also, Furion is the successor to Broadman Vickery Global PTY LTD, whose license was suspended due to fraudulent activities. This company was regulated by ASIC but had its license revoked for misleading investors and mismanaging client funds

I think these things should be addressed and transparently disclosed.

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There is a mix here of claims and to sustain a bare entry minimum of professionalism, it would help to be a bit more transparent than just showing a Twitter account.

The bare minimum is the Linkedin of the founder, but given the scope here, I would argue that at least 3 more people from that team should be shown with their Linkedin.

Previously engaged in the development of Furion before pivoting towards the establishment of NX Finance.

Now as per the comment of @Brathering:

What is your connection to Furion Global Capital Ltd.? According to your Terms of Services NX Finance is a product of Furion.

I would really like a clear, non evasive and transparent statement how the different companies affiliate to each other or rather how many of the current team members were also part of the other “pivoted from” entities:

  1. Broadman Vickery Global PTY LTD
  2. Furion Global Capital Ltd
  3. NX Finance
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1)okay, we will add more teammember details soon. but in fact, most of the member twitter don’t have any post.

2)only me is work in Furion Global Capital Ltd. before.

3)I don’t know what is Broadman Vickery Global PTY LTD and we don’t have any relationship with them.

Additionally, Furion is a project that has only launched a testnet, and it is impossible for it to have engaged in fraudulent activities.

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Yes, we will change the UI soon. The reason why our UI is similar to Jupiter is we believe this can increase the user experience, but the NX community hopes we change the style.

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That’s where I get lost.

As far as I can see, Furion Global Ltd. already has a leverage platform for Forex, Cryptos and so on for several years. And there are many suspicious reports to say the least, e.g. https://www.wikifx.com/de/dealer/3777184767.html.

Am I right that this is the company you worked for?

Am I right that this is the company that is mentioned in your Terms of Service?

Why are you saying that they just launched testnet then?

I don’t want to FUD, I just want to understand. I’m sure transparency is needed and if provided, it can maybe wash away all concerns.

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oh, I got you! just the similar name but totally two different company! hahha

No, this is wrong. This is not the company I worked for.

No, this is not right for the company that is mentioned in our terms of service.

I worked at “Furion Global Limited”, not “FURION GLOBAL CAPITAL LTD”

totally understand your concern, hahaha

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Thanks for these information. So I understand that Furion Global Limited is not to be confused with Furion Global Capital Ltd.

I just wanted to check something else and realized that your Terms of Service document was updated in the meantime, not mentioning Furion Global Limited anymore. Any reason for that?

You said that you worked at Furion Global Limited. Is it this NFT project? x.com

As far as I can see, the website is no longer online and there were no updates for months. So it’s hardly possible to confirm of this is the company you worked for, although it seems likely based on your introduction in the opening post.

Tbh, it’s just mildly confusing that

  • you worked for Furion Global Limited in the past, but not anymore;
  • old Terms of Service showed that NX Finance is under management of this Furion Global Limited;
  • new Terms of Services have no mention of this Furion Global Limited anymore.

I would appreciate if you could shortly explain if the Furion Global Limited in the old Terms of Service is the same company you worked for and why it is not mentioned in the new Terms of Services anymore.

Thanks!

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I get a feeling that rabbit hole you tripped over goes deep enough to reach an iceberg, but then again just the tip of that :sweat_smile:

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  1. yes for that NFTfi project.Furion launched testnet during the bear market.

  2. Yes for “you worked for Furion Global Limited in the past, but not anymore”

  3. yes for “old Terms of Service showed that NX Finance is under management of this Furion Global Limited”

  4. yes for " * new Terms of Services have no mention of this Furion Global Limited anymore."

The reason why we changed the term of user is because a few people were confused about “Furion Global Limited” and “Furion Global Capital Ltd”. This is because we would like our friends to take a look at our product and our improvements on UI/UX. Our team is working hard to deliver a better product and you can join our discord and see our governance.

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I really appreciate your answers. I’m glad that there is no connection to Furion Global Capital Ltd. and please apologize that I confused it with Furion Global Limited.

One last question:

The Furion.io platform’s testnet didn’t finalize into a mainnet and the social accounts haven’t been active for months with the website not being reachable anymore. I assume, the project is somewhat dead.

If Furion Global Limited is connected to NX Finance (and as far as I understood it is, you just took its mention out of the Terms of Services to prevent confusion), in which way is it connected? Is NX Finance some kind of subsidiary company?

Thanks in advance and good luck for your project!
Brathering

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Relentless and polite, I will keep an eye on your posts in future :rofl: :rofl: :rofl:

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