We are excited to announce that Neptune Protocol will be launching on Eclipse. Neptune Protocol is a native, overcollateralized stablecoin lending protocol purpose-built for the Eclipse ecosystem.

Stablecoins are one of the key products that have found a clear product-market fit in crypto. Neptune will be the first to deliver a decentralized stablecoin and aims to provide an essential medium of exchange on Eclipse.

David Mass, Co-Founder and CEO of Neptune Protocol says, “Blockchains are based on the underpinnings of trust and transparency, which goes against the grain of centralized stablecoins. The roots of DeFi are strongly correlated based on centralized products such as USDC and USDT, facing regularity, security, and collateral risk. Leveraging Eclipse’s trifecta of speed, security, and scalability has helped us build Neptune, an overcollateralized and decentralized stablecoin which will help bootstrap Eclipse’s DeFi ecosystem.”

What is Neptune?

Neptune Protocol is a decentralized stablecoin protocol purpose-built to facilitate their stablecoin, USDN, a decentralized stablecoin soft-pegged to the US dollars. On Neptune Protocol, users can take out 0% interest loans for a one-time fee by depositing eligible collateral, which includes TIA, stTIA ,wETH, stETH, SOL, JitoSOL, mSOL, stDYDX or RETH on day one.

Neptune Protocol offers users:

• No interest loans

• Maximum LTV as high as 90.9%

• Low minimum loan amounts

• Multiple collateral types originating from various ecosystems

Once minted, users can use the USDN stablecoin across Eclipse’s vast DeFi ecosystem and always have the inherent guarantees of a censorship-resistant, permissionless, and secure stablecoin.

Neptune on Eclipse

Eclipse sits at the unique intersection of various blockchain ecosystems. It utilizes the SVM as the execution environment, settling to Ethereum, and publishing data to Celestia. Through a range of bridging solutions, Eclipse will act as a home for various assets from each of these ecosystems, including SOL, TIA, and ETH. As such, despite USDN being a native stablecoin to the Eclipse ecosystem, it unites various ecosystems together by accepting various collateral types.

Furthermore, Eclipse’s focus on performance as an SVM L2 will ensure that crucial operations such as minting, redemptions, and liquidations will always be executed rapidly, ensuring protocol solvency for Neptune Protocol.

Neptune

Neptune Protocol is building USDN, the native stablecoin of Eclipse. Building upon the established sustainability of Liquity, Neptune Protocol is gearing up for its public testnet ahead of the highly anticipated Eclipse Mainnet launch. By delivering a comprehensive, secure, and user-centric decentralized borrowing platform and offering 0% interest rates on loans, Neptune Protocol is creating a robust and reliable stablecoin.

Neptune Protocol recently announced partnerships including Switchboard and Pyth, along with more collaborations and integrations in the pipeline that will propel both Neptune and Eclipse Network to new heights within the DeFi sphere.

Join Us

Eclipse invites you to join Neptune’s Twitter and Discord communities to stay informed about the latest advancements. Delve into the new era of DeFi and unveil the myriad of opportunities that Neptune Protocol and Eclipse Network have in store.