If there is any part of the blockchain ecosystem that has become popular in the last few years, it is the decentralized finance (DeFi) sector. The reason for this is that DeFi successfully offers many of the products and services offered by the traditional financial system but does so with greater privacy, flexibility, and lower costs for users.
The result of this has been billions of dollars locked on DeFi platforms in the last two years and more innovative DeFi platforms popping up, especially those that allow users to earn an income on their initial investment. One of the latest of these is Nimbus, which is a DAO-governed ecosystem of dApps that provide a number of income-generating streams and is geared towards creating a decentralized bank for users.
How Nimbus Works
For users to gain access to Nimbus’ features, they first need to open a wallet address with Metamask, WalletConnect, Coinbase Wallet, Fortmatic, or Portis. Once this is done, the wallet will need to be connected to the Nimbus platform and then be used to store any of NImbus’ two native tokens: NBU or GNBU which they will need to conduct transactions.
The process of acquiring any of the native tokens will see users making use of Nimbus’ swap machine, which is one of its top features. Through the swap machine, users can trade major tokens like BNB or ETH for NBU or GNBU and this will require authentication on both platforms and the payment of a transaction fee. After the swap has …