Nestedfi: an NFT-based social trading platform
Nestedfi is a DeFi project that brings crypto trading, social engagement, and NFT-curated portfolio together in a platform. Nestedfi makes it possible for newbies to copy trade strategies from experienced crypto traders, experienced traders can share their strategies using an NFT-linked profile, NestedNFT, and be rewarded.
Nestedfi which also allows the selling and swapping of tokens started on the 0x chain and is now a multichain project. 0x chain was chosen because it was the only infrastructure that favored the building of multichain dApps, in the earlier days of Nestedfi, as against the prevailing Ethereum-focused dApps.
Nestedfi is built on the philosophy of social trading where users at different levels of expertise can connect with each other, help each other with their expertise, trade, and do more in a user-friendly ecosystem.
Components of Nestedfi
Nestedfi has specific aspects that cater to the needs of traders:
- Build and track portfolio
Traders in Nestedfi can build, track and share their portfolio strategies. While Nestedfi provides a non-custodial system where traders are responsible for their assets, profiles can be shared to benefit newcomers – NestedNFT.
There are more than 30,000 portfolios on Nestedfi that users can copy trade from. And Nestedfi has made it easier to connect portfolios with email addresses/phone numbers/social networks or web3 wallets such as Metamask, and Coinbase Wallet.
- Copy trading
NestedNFT is a profile built as an NFT and can be shared by the owner to facilitate copy trading. Copy trading is a system where a trader, mostly a less experienced, uses the same or similar trading strategy from an experienced trader to trade.
For each time a user accesses the NestedNFT of a professional trader, to carry out copy trading, royalties are paid to the owner of the profile. This makes the social life of the platform exciting. Users can also follow their preferred traders to receive future notifications of their trading strategies.
An automatic smart contract update is done whenever a user changes the composition of their portfolio in Nestedfi. This update is reflected in the global data of Nestedfi but it’s important to note that the NFT that represents the users’ profile is not re-minted.
- Buy, sell, & swap tokens
Nestedfi users can buy, and sell more than 1500 cryptocurrencies of their choice from the platform. This is possible with a debit or credit card as well as through a bank transfer. They can also swap a particular token for another.
- Staking, farming, and lending
Aside from earning by trading to make a profit, users can earn interest from their crypto using the staking, farming, and ending tools on Nestedfi.
- Top tier security
In order to have a safe platform, Nestedfi has invested in smart contract auditing with security experts in the industry and has insured users’ funds using $5 million with the Nexus Mutual insurance company.
Nestedfi claims to have one of the lowest fees in the industry with 0.3% charged for basic operations such as depositing while withdrawal is charged at 0.8%.
Nestedfi is a multichain platform that’s integrated with Ethereum, Polygon, Optimism, BNB Chain, Avalanche, and Arbitrum. This provides users with a large pool of some of the most prominent crypto assets.
Roadmap of Nestedfi
- Raised $7,500,000/Series A from Alan Howard, Third Prime, Republic, Kenetic, and CMT Digital Ventures in 2022.
- Shared 50,000 NST tokens to all early birds who used the Nestedfi platform from February 23rd, 2022.
- Integration with Ethereum in April 2022, Arbitrum in September 2022.
- Partnership with Morpho Labs in September 2022.
In February 2023, it conducted a smart contract audit by Trail of Bits, released Nested portfolio cards, and added $agEUR to its stablecoin list. Nestedfi also won the Optimism prize of $250,000 to further develop its platform.
Future updates include integration with Starkware, Ledger Live, and the launch of the Nested Ambassador Programme.
Team & partners of Nestedfi
Rudy Kadoch is the founder and CEO of Nested Finance. Rudy claimed to have abandoned a course he was taking to go full-time into launching the project when he saw the opportunity Nestedfi could fill.
Adrien Supizet, a certified blockchain expert and software engineer, is the CTO and one of the co-founders of Nested Fi. Aurélien Rousseau, a product designer and blockchain enthusiast, is one of the co-founders and Chief Product managers of Nestedfi.
A list of investors and partners in Nestedfi include Alan Howard, Republic Capital, Kenetic Capital, CMT Digital, Joseph Eagan (former president of Polychain Capital), Lily Liu (co-founder of Earn), and Julien Bouteloup (founder of StakeDAO, REKT, Blackpool, and early contributor of Curve).
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