# Nest Protocol

> Nest Protocol is a decentralized oracle built on Ethereum and powered by the NEST token. 

- Canonical URL: https://iq.wiki/wiki/nest-protocol
- Categories: Projects & Protocols
- Tags: DeFi, Infrastructure
- Created: 2022-08-06T01:38:24.211Z
- Last updated: 2022-08-06T01:46:28.217Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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[Nest Protocol](https://iq.wiki/wiki/nest-protocol) is a decentralized oracle built on Ethereum and powered by the NEST token. The protocol is a distributed price oracle network that incentivizes users to bring off-chain data on-chain[\[1\]](#cite-id-h9t4o89sx7u)[\[2\]](#cite-id-blhkzperwrh).  
  
# Overview  
  
NEST 1.0 started in December 2018 as a lending protocol. NEST 2.0 changed to oracle and launched on November 30, 2019. In July 2020, NEXT 3.0 launched with multi-asset oracles.  
  
On May 18, 2020, Bibox listed Nest Protocol (NEST) with NEST/USDT and NEST/ETH trade pairs[\[3\]](#cite-id-rmm48oh3itc).  
  
On August 6, 2020, Huobi Global announced launching Nest Protocol on its platform. NEST/USDT, NEST/BTC and NEST/HT trading became available from 15:00, August 7, 2020[\[4\]](#cite-id-twmtec5wfc).  
  
# NESTCore  
  
The NESTCore team is anonymous. NESTCore is a small team that consists of one chief architect, one economist and several smart contract developers. There is little public information about the NESTCore team. Their philosophy is that a truly decentralized project is not about the team instead it is all about the community[\[5\]](#cite-id-ldnais9ecc).  
  
## See Also  
  
List of [Oracle](https://iq.wiki/wiki/oracle) Coins