What is Nibiru Chain?

Nibiru is a sovereign proof-of-stake blockchain, open-source platform, and member of a family of interconnected blockchains that comprise the Cosmos Ecosystem.Nibiru unifies leveraged derivatives trading, spot trading, staking, and bonded liquidity provision into a seamless user experience, enabling users of over 40 blockchains to trade with leverage using a suite of composable decentralized applications.It can be said that Nibiru is a blockchain specially designed for transactions.

Why is the protocol called Nibiru?

Nibiru associates closely with transition and diruption of an existing system.

• Nibiru (Babylonian astronomy) (opens new window): Nibiru translates to “crossing” or “point of transition”.

• Nibiru Cataclysm (opens new window): “... the name ‘Nibiru’ is derived from the works of the ‘ancient astronaut’ writer Zecharia Sitchin and has interpretations Babylonian and Sumerian mythology...“

What is Nibiru Ecosystem?

Nibiru Ecosystem has:

1.Nibi—Perps

A perpetual futures exchange where users can take leveraged exposure and trade on a plethora of assets — completely on-chain, completely non-custodially, and with minimal gas fees.

2.Nibi-Swap Spot AMM

Nibi-Swap is an automated market maker protocol for multichain assets. This application gives users access to swaps, pools, and bonded liquidity gauges.

3.NUSD Stablecoin

Nibiru powers a two-token economic model, where NIBI is the staking and utility token for the protocol and NUSD is a capital-efficient, partially collateralized stablecoin for the protocol.

4.Price Feed Oracles

Nibiru accurately prices assets using a native, system of decentralized oracles, and communicates with other Cosmos layer-1 chains using the Inter-Blockchain Communication (IBC)protocol.

What is the background of Nibiru?

According to TechCrunch, the derivatives protocol Nibiru completed a $7.5 million seed round of financing at a valuation of $100 million. This round of financing was participated by Tribe Capital, Republic Crypto and Kraken.

According to reports, Nibiru was founded by Tribe Capital partner Arjun Sethi along with four industry veterans, and the protocol seeks to build the first mainstream decentralized multi-chain solution.