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Plume Network Relaunches Nest Protocol with nBASIS on Pendle

Plume Network Relaunches Nest Protocol with nBASIS on Pendle

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by Maya Lundqvist

5 months ago

Plume Network has made waves in the decentralized finance (DeFi) space by reintroducing its Nest Protocol, which now incorporates real yield through the innovative nBASIS token on Pendle. As enthusiastically stated in the publication, this development marks a significant step towards bridging the gap between real-world asset returns and blockchain technology, reflecting a growing trend of capital efficiency in the sector.

Relaunch of the Nest Protocol

The relaunch of the Nest Protocol is a collaborative effort involving prominent players such as:

  • Plume Network
  • Pendle Finance
  • the Plasma Foundation

Their goal is to synchronize real-world liquidity with blockchain capabilities, thereby enhancing the overall functionality and appeal of DeFi solutions.

Market Response and Total Value Locked

In just four days following the launch, Pendle has reported an impressive addition of $318 million in Total Value Locked (TVL), indicating a strong market response. This surge not only highlights the potential of the Nest Protocol but also suggests a shift in how DeFi sectors are beginning to perceive and integrate traditional financial instruments into their frameworks.

In a significant move for the DeFi sector, RedStone has integrated HyperStone into its ecosystem, enhancing developer capabilities. This development contrasts with Plume Network's recent Nest Protocol relaunch, which focuses on real yield. For more details, see read more.

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