NX Finance｜Leveraged Yield Farming Platform on Solana
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Table of Contents
Project Details
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:
- Withdrawal Restrictions: Token withdrawals may be restricted if there are not enough tokens in the vault due to lending.
- Interest Rate Fluctuations: Borrowing and deposit interest rates change depending on token utilization, affecting returns.
- Perpetual Market Risk: Limited liquidity may prevent the liquidation of positions, and sudden large changes in funding rates may affect trading.
- 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
Airdrop Details
- 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 Strategy
Airdrop Procedure Summary
- Access the site from here
- Connect Twitter and Discord
- Use $Jup and $vSOL as collateral
- Deposit $USDC and $USDT as lending assets.
Illustrated Instructions
- Access the site from here
- Connect Twitter and Discord
- Use $Jup and $vSOL as collateral
Notes
Increasing lending leverage increases APY but carries liquidation risk. Always make judgments based on your own appropriate values.
- Deposit $USDC and $USDT as lending assets.
Disclaimer
- ・This article is created for informational purposes only and should not be used to solicit the sale, purchase, or underwriting of cryptocurrencies, securities, or other financial products, nor should it be considered an invitation to engage in such transactions, or constitute financial or investment advice.
- ・The information and opinions in this article are obtained from sources that we believe to be reliable, but we do not guarantee their accuracy, completeness, suitability, timeliness, or truthfulness.
- ・We, the authors, and all related parties are not responsible for any damage or loss caused by or related to the information published in this article. Cryptocurrencies involve hacking and other risks, so please conduct thorough research before using them.
Supervised by
Shingo Arai
CEO, Rokubunnoni Inc.
After completing a Master's degree in Management Engineering at Tokyo University of Science in 2013, Shingo Arai worked as an engineer, data scientist, and data analyst at multiple companies in the web, app, and advertising industries. He entered the cryptocurrency and blockchain space around 2017, founded Rokubunnoni Inc. in January 2018, and launched Crypto Times — a blockchain-focused media outlet — in February 2018. With approximately 9 years in the industry, his expertise spans DeFi, L1/L2 protocols, tokenomics, ZKP, and domestic/international regulatory trends. He actively conducts on-chain asset management and research. He has authored and supervised hundreds of articles, spoken at conferences in Japan and abroad, served as a DeFi investment seminar instructor, and operated KOL ambassador programs.
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