Millicent Labs, core contributors to Millicent One — the vertically integrated chain for compliant onchain finance and RWAs — are excited to announce our partnership with Nuffle Labs.
This collaboration will leverage Nuffle's cutting-edge modular blockchain solutions, Near Data Availability (Near DA) and the Nuffle Fast Finality Layer (NFFL), to bridge the gap between traditional finance DeFi, setting a new standard for onchain finance.
Nuffle Labs, an independent entity spun off from the NEAR Foundation, with a recent $13 million funding round led by Electric Capital, Nuffle Labs is focused on creating scalable, secure, and efficient solutions to enhance the capabilities of blockchain networks.
As the demand for compliant blockchain solutions in finance continues to grow, Millicent is ready to deliver a robust, secure, and efficient platform for RWAs and onchain financial operations. This partnership with Nuffle Labs represents a significant step forward in achieving this goal.
Near DA offers Millicent One a cost-effective and reliable solution for storing and accessing transaction data. This is crucial for maintaining transparency and compliance in financial operations. Key benefits include:
Unparalleled Cost-Effectiveness: Users from the Web 2.0 world aren’t used to paying gas fees for simple actions like buying a stock on Robinhood, or sending money with CashApp. That’s why Millicent One offers a gasless transactions for the vast majority of our community.
Near DA's storage costs are approximately 85,000 times cheaper than Ethereum mainnet and up to 30x cheaper than Celestia, significantly reducing operational expenses to unlock much better experiences for Millicent One’s users and partners.
Source: https://www.nearmodular.com/
Scalability: Near DA offers 4mb/s of block space per shard — with each 4mb block providing exactly 4mb of usable data, free from cryptographic bloat — across its four shards, for 16mb/s of data throughput. This efficiency, coupled with NEAR's unique ability to dynamically reshard in response to growing demand, ensures Millicent One can scale seamlessly.
Source: https://near.org/data-availability
Reliability: A Top 20 system by marketcap, with 100% uptime since their launch in April 2020, Near is a battle-tested and time-proven solution. That isn’t just impressive – it's a non-negotiable foundation for financial institutions considering blockchain adoption and the future of onchain finance.
NFFL addresses one of the most persistent challenges in the Ethereum ecosystem: slow transaction finality. This innovation is particularly crucial for Millicent One's mission to bridge TradFi and DeFi, as it dramatically improves both overall network efficiency and cross-rollup communication.
NFFL is engineered so that each transaction is irreversible and recognized as legitimate in record time. In order to achieve this, NFFL leverages both NEAR’s advanced consensus mechanisms and EigenLayer for economic security.
Unmatched Speed and Security: While rollups traditionally offer fast ‘soft’ finality, ‘hard’ finality settling to Ethereum mainnet currently takes 12 minutes. Through NFFL, Millicent One adds an additional finality guarantee in just 3 to 4 seconds — backed by $500m of restaked ETH already pledged to NFFL’s EigenLayer AVS by Swell. This dual-layer protection and game-changing speed is essential for real-time financial operations and RWA transactions.
Interoperability and Chain Abstraction: NFFL takes a critical step towards an interoperable ecosystem that aligns perfectly with Millicent's goal of creating an open and unified platform for onchain finance. NFFL enables fast finality for all cross-rollup transactions, solving the liquidity fragmentation issue currently challenging the Ethereum ecosystem.
This partnership with Nuffle Labs marks a pivotal moment in Millicent’s journey to revolutionize compliant onchain finance. By leveraging Near DA and NFFL, we are setting new standards for efficiency, security, and interoperability in the blockchain space.
As we integrate these technologies into Millicent One, we invite financial institutions, asset managers, and DeFi enthusiasts to join us in exploring the vast potential of compliant onchain finance. Together, we're building a future where traditional and decentralized finance are one and the same.
Ready to be part of that future? Visit millicent.io or join our community on Twitter/X to learn more about how Millicent and Nuffle are reshaping the financial landscape.
Millicent One is the first vertically-integrated chain for compliant DeFi and tokenized Real World Assets, dedicated to creating more rewarding financial opportunities, accessible to everyone, everywhere.
Former core contributors to the NEAR Protocol and builders on Ethereum, Nuffle Labs builds next-generation modular infrastructure for all layers. There’s NUFF for everyone.
