It is a decentralized liquidity market protocol, not related to storage, where users can participate as depositors or borrowers. Depositors provide liquidity to the market for passive income, while borrowers can take loans with redundant provision (indefinitely) or lack of provision (single-block liquidity).
About the Nereus platform
The project is optimized for the provision of dynamic and fixed interest rates with lower requirements for the provision, with an emphasis on use options that go beyond trade and price speculation.
Wirex investments are intentionally planned in such a way as to minimize the direct participation of the platform in the project. In essence, WXT will be a grant, financing the development of the protocol and supporting its initial launch.
Created by former employees Wirex, Nereus decided to use the WXT in the protocol for several reasons:
| 1. | Accelerate the development of the protocol and to bring a working product to the market faster. |
| 2. | The ability to attract 4 million Wirex customers, already familiar with the currency. |
| 3. | Ensure an immediate mechanism, where the Nereus protocol users can add or delete the provision between traditional and decentralized fiat networks. |
| 4. | Cooperate decentralized use options that already exist for the WXT under the Nereus protocol. |
Instead of starting from scratch, Nereus is a lending and borrowing market, based on AAVE open code. The goal - not to re-invent decentralized finances, but in improving the existing protocols in anticipation of mass implementation on the market. Nereus seeks to solve problems directly, relying on the established advanced methods of existing protocols, such as Aave, Compound and MakerDao. Institutional access to Nereus may be carried out in partnership with the Wirex Pro product. Wirex Pro will facilitate business adaptation, transaction monitoring and dispute resolution, and Nereus will provide liquidity and access to the protocol.
Additionally about WXT
WXT was selected as its own token to receive income within the Nereus protocol. The Nereus WXT rate will allow users to receive 50% of the entire income, obtained by lending within the protocol. As a mechanism for encouraging participation, WXT remuneration will receive both lenders and borrowers. Remuneration can be exchanged immediately to a fine or after a three-month blocking. Those who wish to get a reward immediately will pay 75% of the fine, which will be returned to users who choose a three-month blocking. This method stimulates users to hold WXT in a constant remuneration protocol.