NX Finance｜Leveraged Yield Farming Platform on Solana

NX Finance is a leveraged yield farming platform built on Solana. Users can lend $USDT and $USDC to earn interest from borrowers, and by depositing $JLP or $vSOL, they can maximize the rewards earned from each protocol.

The interest rates for $USDC and $USDT are tied to Jupiter, so the more active Jupiter is, the more you can earn. If you deposit $JLP or $vSOL, in addition to the leveraged interest rate, you can earn points from each protocol, which can be used for airdrop campaigns.

For more information on vSOL, please see here.

Currently, the TVL is $2.78M, which is lower than Meteora, another farming protocol, at $61.3M.

Risk Considerations

There are four trading risks associated with leveraged yield farming:

1. Withdrawal Restrictions: Token withdrawals may be restricted if there are not enough tokens in the vault due to lending.
2. Interest Rate Fluctuations: Borrowing and deposit interest rates change depending on token utilization, affecting returns.
3. Perpetual Market Risk: Limited liquidity may prevent the liquidation of positions, and sudden large changes in funding rates may affect trading.
4. Liquidation Risk: Excessive leverage and the health rate of collateral assets falling below the borrowed amount will result in forced liquidation.

Official documentation is here

• Reward: NXPoint > Converted to Token at TGE
• How to Earn: Lending $USDT, $USDC, using $JUP, $vSOL as collateral
• Calculation Method: 3 Points per $1 lent, 3 Points per $1 collateral, 1 Point per $1 leveraged

Airdrop Procedure Summary

1. Access the site from here
2. Connect Twitter and Discord
3. Use $Jup and $vSOL as collateral
4. Deposit $USDC and $USDT as lending assets.

1. Access the site from here
2. Connect Twitter and Discord
3. Use $Jup and $vSOL as collateral

1. Deposit $USDC and $USDT as lending assets.