Arbitrum Week at Nerite

It’s Arbitrum Week at Nerite!

Nerite is now the largest Arbitrum native CDP protocol by TVL.

This week Nerite is committing to supporting the Arbitrum ecosystem long term by:

• Giving 5x boosted Shell Points for all loans on nerite backed by ARB token. 

• Joining Arbitrum DAO as a Delegate.

• Creating new USND liquidity pools that earn Arbitrum DRIP incentives.

Boosted Shell Points

Nerite lets borrowers take out USND against their ARB tokens at user set interest rates. Shell Points reward Nerite users for their actions. Starting September 23 and ending September 30th at 5pm EDT all ARB positions will earn 5x points for every USND borrowed. Our goal is to boost ARB borrowers and reward our users even more.

Read all about how Shell Points reward Nerite users in the launch blog here: https://www.nerite.org/writing/shells

Arbitrum DAO participation

Today we delegated over 65,000 ARB tokens to Nerite DAO. Nerite DAO was created using the smart contract framework from our governance partner, Aragon. This will allow Nerite as a community to contribute to Arbitrum DAO governance decisions like upgrades to the network, directing ARB incentives, and more. The more ARB we delegate, the more influence the Nerite community will have over the future of Arbitrum.

Check out our Arbitrum DAO delegate profile here: https://www.tally.xyz/gov/arbitrum/delegate/0x108f48E558078C8eF2eb428E0774d7eCd01F6B1d

Nerite DAO is not yet available for users to directly participate in because the NERI governance token is not yet live. Please beware of scams which say otherwise and go slow.

DRIP Incentives for USND Pools

Arbitrum DAO recently launched the DRIP campaign to boost and incentivize liquidity across the Arbitrum network. The initial theme of Round 1 of incentives is “Looping” with projects like Euler getting large ARB token grants to distribute to LPs. 

More info on DRIP here: https://arbitrumdrip.com/

That’s why we created a new pool on balancer for our stablecoin, USND, which is paired with USDC. This pool rehypothecates inactive USDC into Euler’s eeUSDC vault, which is currently earning DRiP incentives! All LPs on the pool will also earn 2x Shell Points for each $1 of value deposited.

USND-USDC Boosted Balancer Pool: https://balancer.fi/pools/arbitrum/v3/0x483bc7fe92fc392305dd97d4d3363e0e0a7f144d

Nerite’s long term commitment to the Arbitrum Ecosystem

Nerite will succeed when Arbitrum succeeds, and we want the reverse to also be true: for Arbitrum as an ecosystem to succeed when Nerite does. Nerite’s direct involvement in future Arbitrum DAO governance will help align our direction long term. Nerite aims to become the Arbitrum Dollar. Our primary goal is to make USND the safest most resilient stablecoin on Arbitrum.

If you are building something new on Arbitrum, reach out to us, as we are aggressively pursuing more USND integrations into existing and novel apps.

Go slow.