Read

Edit

History

Notify

Share

Nibiru Chain

Nibiru Chain is a Layer 1 and ecosystem supporting a variety of , including those in the realms of , , and other sectors. It is structured to serve as a streamlined Web3 hub, featuring user-friendly APIs, language SDKs, and a comprehensive "Super App" interface. [1]

Overview

Nibiru is a focused on establishing a universal Web3 hub with an improved user experience. Built using the SDK on consensus, it enables interoperability through Inter-Blockchain Communication (IBC). [2]

Nibiru offers a searchable index of blockchain data for Web3 projects to analyze user behavior and network activity. It includes an Oracle Module for secure and efficient blockchain solutions, addressing platform limitations. [2]

For developers, Nibiru introduces an incentive model linking rewards to time-weighted Total Value Locked (TVL) in smart contracts, ensuring alignment with ecosystem growth. [2]

Smart Contracts

Smart contracts on Nibiru are implemented using Rust CosmWasm, which operates within the WebAssembly (Wasm) runtime. CosmWasm contracts are resistant to re-entrancy attacks, a prevalent vulnerability in smart contracts. They are also designed to be compatible across IBC chains and leverage the memory safety and performance advantages of Rust. [1][3]

NIBI Token

Nibiru Chain's staking and utility token is named "NIBI." This token is crucial for the network's Proof-of-Stake consensus and decentralized governance. NIBI holders can participate in decision-making processes and secure the network by paying gas fees for computation. Staking or delegating NIBI tokens to validator operators may result in staking rewards for token holders. [4]

Tokenomics

Nibiru's tokenomics revolve around the distribution of its token supply, which totals 1.5 billion tokens when fully diluted. These tokens are allocated across various groups as follows: [4]

  • Community (60%): The largest portion, comprising 60% of the token supply, is earmarked for the community. This allocation encompasses stakers, recipients of development grants, participants in hackathons, liquidity providers, partners, and those involved in general community governance. Distribution occurs on a non-linear schedule based on a normalized exponential function.
  • Core Contributors / Team (15.3%): Approximately 15.3% of the tokens are allocated to core contributors, including the core team, strategic advisors, and future hires. This allocation is subject to employee token options, with no tokens released at Token Generation Event (TGE), and vesting linearly over time.
  • Investors (Seed) (8.5%): A portion totaling 8.5% of the token supply is reserved for seed investors who participated in the funding round in 2022. This round was co-led by Tribe Capital, Republic Capital, NGC Ventures, and Original Capital. Tokens are not released at TGE; instead, a cliff of 25% occurs at month 9, followed by linear vesting of the remaining 75% over 36 months.
  • Investors (Post-seed) (8.2%): Another 8.2% of the tokens are allocated for post-seed investors, including partners and private investors. Any excess tokens from this category are retained in the strategic reserve. Tokens are not released at TGE; instead, a combination of 24-month and 36-month linear unlocks is applied.
  • Public Sale (CoinList) (8.0%): Finally, 8.0% of the token supply is designated for the public sale, conducted on CoinList. Upon launch, 10% of these tokens are unlocked, with the remaining 90% vesting linearly over 12 months.

Nilestream

Nibiru’s Nilestream initiative aligns market makers, liquidity providers, financial entities, and trading groups as integral liquidity members, offering privileged access to Nibiru’s ecosystem projects. Nilestream's members are selected as strategic partners through Nibiru’s diligence process. [5]

Funding

Nibiru Chain concluded its $8.5 million seed funding round in September 2022. The round was co-led by Tribe Capital, Republic Capital, Original Capital, and NGC Ventures. Additionally, a consortium of investors participated in the funding, including HashKey Capital, SaxeCap, Beco Capital, Alves Ventures, VC3 DAO, CapitalX, Cerulean, Cogitent, Picks & Shovels, Lecca, Imperator, Helikon, Basis Set, Broadhaven, TokenMetrics, MeteorCap, Acacia Digital, and . [6]

See something wrong? Report to us.

Nibiru Chain

Commit Info

Edited By

Edited On

May 29, 2024

Feedback

Average Rating

Based on over 2 ratings

How was your experience?

Give this wiki a quick rating to let us know!

Twitter Timeline

Loading...

Loading

Media

REFERENCES

Join the IQ Brainlist

Sign up for the IQ Brainlist to get early access to editing on the IQ.wiki site!

Join Now

Subscribe to our newsletter

The IQ Ecosystem Report will keep you updated on everything IQ.

Subscribe

IQ.wiki

IQ.wiki's vision is to bring blockchain knowledge to the world and knowledge onto the blockchain. A part of Brainfund group

https://twitter.com/IQWIKIhttps://www.reddit.com/r/Everipedia/https://t.me/everipediahttps://www.instagram.com/iqwiki_/https://github.com/EveripediaNetworkhttps://discord.gg/x9EWvTcPXthttps://www.facebook.com/iqdotwiki

IQ

What's IQ?StakingBonds

Company

About usCareersBrandingIQ GPTIQ Dashboard

© 2024 IQ.wiki Powered By BrainDAO & IQ