Greetings Nablans!
We're excited to announce we launched our Mainnet Alpha NFT on the Arbitrum network. This marks the beginning of a phased rollout that will gradually open up our innovative liquidity provision and swapping features to you, our valued users.
As a multichain platform, we are designed to operate on any EVM-compatible network. When deciding on the first chain to launch our Mainnet Alpha, we closely tracked both Base and Arbitrum ecosystems, focusing on the respective trading volumes for the assets Nabla will support.
While Base has seen growth in areas like memecoin trading, which is not a match for Nabla, we haven't observed the expected growth in trading volumes for our targeted assets (stables, LRTs, RWAs, and yielding assets).
In contrast, Arbitrum has demonstrated significantly higher daily trading volumes (>>$10m) for all five of our initially supported assets, compared to Base, where none of these assets see a daily trading volume of >$10m so far.
This stark difference led us to conclude that launching our mainnet alpha test phase on Arbitrum is the best choice.
We solely focus on generating high swap volumes for the initially listed assets to battle-test and fine-tune our pricing algorithm before listing other assets with lower trading volumes but additional liquidity incentives from token issuers.
Still, as a multichain platform, we consider launching on Base after the Mainnet Alpha phase once this elaboration is done. The decision to start with Arbitrum was just made to determine the first chain for our launch.
If you participated in our previous testnet phases on Ethereum Sepolia, Base Sepolia, or Arbitrum Sepolia, you're eligible to mint the Mainnet Alpha NFT on Galxe.
This NFT grants you exclusive privileges within the Nabla Finance ecosystem, including providing liquidity to our swap pools and the Backstop Pool before anyone else.
Mint here: https://app.galxe.com/quest/NablaFinance/GCuVTtvhTM
Please note: while the NFT is transferable, you can only use it with one wallet. Once you provide liquidity using a specific wallet, you cannot use the NFT with another wallet.
We have outlined a four-step plan for the Mainnet Alpha rollout, starting with the launch of the Backstop Pool in early August, followed by the Swap Pool launch.
Initially, we will only grant swap access to select partners. Around 2 weeks after swaps are enabled, we will extend access to the Mainnet Alpha NFT holders.
This phased approach ensures a controlled and stable launch, maintaining the system's integrity and security. More details will follow before the Mainnet launch.
We understand that some community members may be eager to participate but haven't had the opportunity to engage with our testnet. Don't worry!
We have you covered. You can join the Mainnet Alpha NFT waitlist and be whitelisted three days after the Swap Pool launch, provided the pool caps haven't been met or if we increase the caps.
We encourage you to thoroughly assess the risks and benefits of participating in our platform and make informed decisions based on your financial goals and risk tolerance.
This is just the beginning of an exciting journey as we bring Nabla Finance to the world. We are incredibly grateful for your continued support and can't wait to start on this next chapter together.
Stay tuned for more updates, and get ready to experience the future of DeFi on the Nabla planet!
Gökhan Seckin
Over 1.2k subscribers
